Agriculture Secretary Francisco Tiu Laurel Jr. said the 15-percent tariff on imported rice might be kept until September to avoid a rise in local retail prices, as global rice prices have slightly increased following the end of harvest seasons abroad.
He plans to recommend retaining the lower tariff rate during the next review in July, following the historic cut from 35 percent to 15 percent in July 2024 under EO 62.
Tiu Laurel emphasized that any tariff increase should be gradual and carefully timed, ideally during the harvest season of exporting countries to prevent market shocks.
Vietnam’s rice prices recently saw a moderate rise, but domestic rice prices in the Philippines still fell by 10.9 percent year-on-year in April, the steepest decline since 2019.
Agriculture officials warn that raising tariffs now could push retail rice prices higher amid limited supply.
Source: PhilNews24 | May 27, 2025
