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Industry players seek deferment of rice tariff cut

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Industry players are seeking the deferment of the implementation of the tariff cut on rice imports to provide the local sector ample time to prepare for the impact of the economic measure.

Workers arrange sacks of National Food Authority palay or unmilled rice inside their warehouse in Balagtas, Bulacan on May 22, 2024.MANILA, Philippines —

Prism is a group composed of various stakeholders across the rice value chain from seed growers, farmers, millers to traders, importers and retailers. First, they are seeking the proper implementation of support programs to farmers that include subsidies, financial assistance and training to help local producers improve their productivity and competitiveness in light of reduced tariff protection.

The industry group also put forward the establishment of a “robust” monitoring mechanism to track the impact of the tariff reduction on rice prices as well as local production. Pundits have earlier noted that palay prices would drop between P3 and P4 per kilogram while retail rice prices could fall by as much as P7 per kilogram because of the tariff cut.

The government should also promote the consumption of locally-produced rice instead of imported grains to domestic consumers, the group added.VNGGames officially releases newest MMORPG 'Ghost Story: Love Destiny' in Southeast AsiaA celebration of scooter culture and communication in Manila: The Classic Panarea Sessions 2024Apple on Friday said it would delay the rollout of its recently announced AI features in Europe because of"regulatory uncertainties"...

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