On 15 May 2021, the Government of the Republic of the Philippines announced the lowering of the Most Favoured Nation (MFN) tariff rates on rice for a period of one year, starting 2 June 2021. The measure reduced tariff rates on in-quota rice imports from 40 percent to 35 percent and those on out-quota rice imports from 50 percent to 35 percent. The temporary tariff reduction aims to encourage traders to import rice to boost market supplies while diversifying the country’s sources, targeting non-ASEAN countries. Coupled with a foreseen increase in paddy production in 2021, the increased imports of rice are expected to maintain affordable prices for consumers and contain inflationary pressure, amid concerns about increased prices of food, mainly pork meat and products, driven by African Swine Fever (ASF) outbreaks.