Senate OKs adjusted pork import tariffs, volume

The Senate has accepted the economic team's recommended pork import tariff rates and volume adjustments under Executive Order No. 128, which aims to address the dwindling pork supply due to the African swine fever.

The adjusted tariff rates will be 10 percent for in-quota imports and 20 percent for out-quota imports for the first three months, decreasing to 15 percent and 25 percent, respectively, for the remaining nine months.

The minimum access volume (MAV) for pork imports has been reduced to 254,210 metric tons from the initial 404,000 MT.

Agriculture Secretary William Dar stated that these revisions are necessary to curb the inflationary impact of the reduced pork supply.

The Executive Order will be in effect for one year, with the possibility of recall should pork prices and supply stabilize.

Local hog raisers were consulted as part of the agreement, and the Department of Agriculture is expected to provide regular reports on the matter.