Panel approves tariff cut for rice and commodities

Tariffs on rice will be cut to 15% for both in-quota and out-quota rates, down from 35%, through to 2028. — Bloomberg

MANILA: A Philippine inter-agency panel led by the president has approved lower tariffs on rice and extended existing tariff cuts on some other commodities to combat inflation and ensure ample supply.

Tariffs on rice will be cut to 15% for both in-quota and out-quota rates, down from 35%, through to 2028, Economic Planning Secretary Arsenio Balisacan told a press conference yesterday. Lower tariffs on corn, pork and mechanically de-boned meat were also extended until 2028.