Arroyo said the rollback stems from the need to cushion the impact of high cattle prices, depreciated currency, and the recent mad-cow scare. Executive Order 11 will last until the end of 2004.
Martin Gomez, an official of the Cattle Feedlot Association of the Philippines, expressed optimism that the tariff reduction will benefit "beef consumers in the wet markets who have comprised the majority of our industry’s clients."
Gomez said the EO has been perceived as a catalyst that could perk up the local cattle market especially in the aftermath of the mad-cow scare which brought about the ban on beef products from Europe.
"Our association is working closely with Agriculture Secretary Leonardo Montemayor and his livestock officers regarding possible joint undertakings relative to improving the capabilities of local cattle production," he pointed out.
"It is an ambitious program that will need some serious policy reform involving as well the Department of Agrarian Reform and the Department of Environment and Natural Resources," Gomez said.
He added that the EO would help promote "a vigorous and sustainable local cattle industry which will provide the bulk of the requirements of our local markets."
"At the same time, we also realized that imported feeder cattle with its value adding feedlot activity is a necessity which needs continued support of government in order to augment our rapidly dwindling supply," Gomez said. – Rommel Ynion