The most pressing reason to revert to the original rates of import duty for swine meat is to stabilize the prices of poultry and livestock products while balancing the impact of such move to both consumers and producers, according to Executive Order 299, which will take effect on May 1.
The E.O., which was signed by President Arroyo last March 26, was issued upon the request of the local livestock and poultry industries, which continue to reel from the effects of cheap imported livestock and poultry products in the local market, for government assistance to bring down the costs of their inputs.
President Arroyo said in reimposing the original rates of duty on certain articles under Section 104 of the Tariff and Customs Code of 1978, that it is the policy of government to provide assistance to sectors facing economic difficulties. The articles specifically mentioned are livestock and poultry products.
The government had earlier lowered gradually the rates of import duty on a number of agricultural products from 30 percent for in-quota and 40 percent for out-quota for livestock and poultry products in line with its commitment to the General Agreement on Tariffs and Trade (GATT) and World Trade Organization (WTO) of a zero-percent duty on all imports by 2015.