DA recommends retaining 15% rice tariff to stabilize prices

The Department of Agriculture (DA) has recommended retaining a 15-percent tariff on imported rice to help mitigate inflation effects and stabilize local prices.

In June 2024, President Ferdinand R. Marcos Jr. signed Executive Order 62 reducing the tariff from 35 percent to 15 percent to lower retail prices by PHP7 per kilogram.

DA Secretary Francisco Tiu Laurel Jr. said he will present this recommendation in June ahead of a July review by the Tariff Commission, emphasizing proper timing considering the harvest season is over.

The DA spokesperson Arnel de Mesa noted that retaining the tariff helps stabilize prices during lean months from June to September and complements their PHP20 per kilogram rice program for vulnerable sectors.

De Mesa explained that increasing tariffs amid limited supply could lead to higher prices, which retailers would find challenging. He also emphasized the importance of stable rice prices in maintaining overall economic stability.