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Agriculture stakeholders are proposing a periodic review of rice tariffs instead of outright reduced rates until 2028.

“In our discussions with industry representatives, the suggestions ranged from reviewing the tariff every six months to one year, or even every four months,” Agriculture Secretary Francisco Tiu Laurel Jr. said in a statement on Wednesday.

Tiu Laurel said he plans to raise industry stakeholders’ suggestions at the Cabinet level, pending the issuance of an executive order that would implement the National Economic and Development Authority (NEDA) Board-approved reduction in rice import tariff rates to 15% from 35% until 2028.

The decision of the NEDA Board, chaired by the President and vice-chaired by the NEDA chief, aims to reduce the rice prices, especially for the poor and vulnerable sectors.

Following this, farmer groups called for NEDA Secretary Arsenio Balisacan’s resignation, saying the tariff rate cut would not bring down rice prices.

Balisacan has since defended the planned reduction in rice import tariff rates, saying the decision was “not made lightly” and that the government would continue to support farmers.

President Ferdinand Marcos Jr., however, is yet to issue an executive order that would implement the reduced tariffs rates on imported rice.

Tiu Laurel said this situation would provide a window of opportunity for stakeholders in the agricultural sector to voice their concerns.

The Agriculture chief added that industry players raised concerns that tariff reduction would not result in significant lowering of rice prices and could also adversely affect local farmers since traders could lower buying prices for palay.

Tiu Laurel said a “balanced approach” that considers both consumer welfare and the viability of local agriculture “should be considered by the Cabinet when the tariff reduction issue is discussed.” — VBL, GMA Integrated News

Source : msn