Trade and markets
 

Detail

Area
Philippines
Commodity Group
Rice
Commodity
All
Date
19/06/2014
Policy Category
Trade
Policy Instrument
Import quota
Description
Received approval from the WTO Council for Trade in Goods to extend quantitative restrictions on rice imports until 30 June 2017. The draft decision, which still requires approval by the WTO General Council and is subject to annual revision, foresees the Philippines to raise the rice Minimum Access Volumes (MAV) to 805 200 tonnes starting on 1 July 2014, up from the 350 000 tonne volume set under the 2006 extension of the special treatment. Of this volume, 755 000 tonnes are to be allocated as country-specific quotas to seven trading partners, namely Australia (15 000 tonnes), China (50 000 tonnes), El Salvador (4 000 tonnes), India (50 000 tonnes), Pakistan (50 000 tonnes), Thailand (293 100 tonnes) and Viet Nam (293 100 tonnes), with remaining quantities (50 000 tonnes) part of an omnibus quota. The in-quota tariff rate is to be lowered from 40% to 35%, while out-of-quota rates will remain set at 50%. The National Food Authority will retain the first right to import MMA volumes, taking into account increased private sector participation.