Lower tariffs on agri products extended

MANILA, Philippines — President Marcos has extended the lower tariffs on swine meat, rice, corn and coal to increase their supply and to keep their prices affordable. 

Under Executive Order (EO) No. 10 signed by Marcos on Dec. 29, 2022, fresh, chilled or frozen swine meat, maize, rice, and coal shall be subject to the Most Favoured Nation rates of duty until the end of the year.  Coal shall be applied zero duty beyond 2023. 

The EO extended the reduced rates of duty on fresh, chilled, or frozen swine meat at 15 percent (in-quota) and 25 percent (out-quota); corn at 5 percent (in-quota) and 15 percent (out-quota); rice at 35 percent (in-quota and out-quota); and coal at zero duty.

“There is a need to extend the effectivity of the reduced tariff rates on rice, maize (corn), coal, and meat of swine (fresh, chilled, or frozen) to maintain affordable prices for the purpose of ensuring food security, help augment the supply of basic agricultural commodities in the country, and diversify the country’s market sources,” the President said.

All articles listed in the EO, which are entered into or withdrawn from warehouses in the Philippines for consumption, shall be levied the Most Favored Nation rates of duty upon its effectivity.

The tariff rates on coal shall be subject to a semestral review after Dec. 31, 2023, the order said.

Marcos also ordered the National Economic and Development Authority Committee’s tariff committee to submit its findings and recommendations on the lower tariff, including analysis and monitoring of the coal market.