Department of Agriculture (DA) Secretary Francisco Tiu Laurel Jr. on Monday said he is more likely to recommend a slight and gradual hike in the tariff on imported rice in the next review in June.
This came after the DA and Department of Trade and Industry (DTI) reported a significant decline in retail prices of imported rice in the local market, which is now at PHP40 to PHP45 per kg. level from the PHP60 per kg. level.
Under Executive Order (EO) 62, the tariffs on imported rice were reduced from 35 percent to 15 percent in June 2024 to help “drop retail prices of rice by PHP6 per kilogram to PHP7/kg.”
In a media interview during the joint market inspection with the DTI at the Mega Q-Mart in Quezon City, Tiu Laurel said the DA’s recommendation prefers a staggered reversion.
“Ang general direction natin (Our general direction) is we will be recommending a slight increase,” he said.
“Ang hindi pwedeng mangyari at tingin ko hindi tamang mangyari is from 15 ibabalik sa 35 in one go. Delikado iyon, magkakaroon ng shock sa market (What should not happen and I think what’s improper to happen is from 15 will increase to 35 in one go. That’s risky, there will be a market shock).”
Tiu Laurel said the DA has yet to determine the particular tariff adjustment to be recommended in the upcoming review.
“Ayan ang personal recommendation ko. Of course, iba naman iyong pananaw ni [National Economic and Development Authority] Secretary [Arsenio] Balisacan, iba naman iyong pananaw ng iba (That’s my personal recommendation. Of course, Sec. Balisacan has his view, others have their own). We will deliberate on that,” Tiu Laurel said.
He likewise said they would seek a meeting with President Ferdinand R. Marcos Jr. to discuss the results of their deliberation and their recommendation.
Tiu Laurel said the last tariff review was in February.
To date, the imposed tariff on imported rice remains at 15 percent. (PNA)
