Philippines enacts the Rice Tariffication Bill


On 15 February, the Government adopted the Rice Tariffication Bill, which will become effective on 3 March 2019. The Bill replaces quantitative restrictions on rice imports with a 35 percent tariff on imports from member countries of the Association of Southeast Asian Nations (ASEAN) and 40 percent for in-quota rice imports from non-ASEAN member countries, while a 180 percent tariff rate would be imposed to imports larger than the Minimum Access Volume (MAV). Revenues from the tariffs would feed into the so-called Rice Competitiveness Enhancement Fund with an annual funding of PHP 10 billion (USD 191 million) to support farmers and boost domestic production. The Bill also removes the regulatory functions of the National Food Authority (NFA) and limits its role to procuring rice for buffer stocks to address emergency situations. Overall, the measure aims to ensure sufficient domestic availabilities and keep prices in check.

Country: Philippines