5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
No Result
View All Result
Home Stock

Farmers seek details of Indian rice import plan

by
December 6, 2023
in Stock
0
Farmers seek details of Indian rice import plan













REUTERS

THE Department of Agriculture has been asked to disclose the details of its plan to import Indian rice, the Federation of Free Farmers (FFF) said on Wednesday.

Agriculture Secretary Francisco Tiu Laurel, Jr. said during a Commission on Appointments hearing on Tuesday that the grain shipments would be sufficient to meet rice demand up to January or February.

The Indian government has allocated a quota of 295,000 metric tons (MT) of non-basmati white rice to the Philippines, after having declared a freeze on such exports to ensure its own domestic supply.

“It is not clear if a government agency will undertake the shipment, notwithstanding the fact that the Rice Tariffication Law prohibits imports by the National Food Authority (NFA)… (or if) the private sector will do the importing,” FFF National Manager Raul Q. Montemayor said in a statement.

Under Republic Act No. 11203, importing rice was removed from the NFA’s functions. Private traders have instead been allowed to bring in rice shipments while paying a 35% tariff on Southeast Asian grain. 

As of Nov. 16, rice imports amounted to 2.93 million MT, according to the Bureau of Plant Industry. 

On Monday, Mr. Laurel had reduced the deadline for rice traders to bring in their imports to 30 days, regardless of its country of origin, through Memorandum Circular No. 53.

Mr. Montemayor added that the FFF is calling for the reinstatement of the 50% tariff on rice sourced from non-ASEAN suppliers.

“Imports from non-ASEAN countries have not increased significantly despite the tariff reduction. Retail prices have not dropped, and most of the rice imports are for premium grades for sale to well-off consumers,” he said, citing data from the Philippine Statistics Authority.

Since 2021, the tariff on non-ASEAN grain was cut to 35%, equaling the tariffs on ASEAN and non-ASEAN rice.

Executive Order No. 10, signed by President Ferdinand R. Marcos, Jr. last year extended the lower tariffs until Dec. 31, 2023.

The FFF has argued in a Tariff Commission hearing that government losses from the tariff cuts have topped P1 billion. — Adrian H. Halili

CEDadiantiTyClea

RELATED ARTICLESMORE FROM AUTHOR



MORE STORIES


Previous Post

FTA utilization tracker to be co-developed with South Korea

Next Post

DoE calls for accelerated retirement, repurposing of coal-fired power plants

Next Post
DoE calls for accelerated retirement, repurposing of coal-fired power plants

DoE calls for accelerated retirement, repurposing of coal-fired power plants

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.







    Fill Out & Get More Relevant News





    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recommended

    Jeremy Clarkson slams regulators as ‘most expensive’ Hawkstone beer advert is banned

    Jeremy Clarkson slams regulators as ‘most expensive’ Hawkstone beer advert is banned

    July 14, 2025
    How the law shapes the reality for motorcyclists after serious injuries

    How the law shapes the reality for motorcyclists after serious injuries

    July 14, 2025
    How The Canadian Academy of Osteopathy Is Reshaping Osteopathic Education

    How The Canadian Academy of Osteopathy Is Reshaping Osteopathic Education

    July 14, 2025
    30 manufacturing projects in the works

    30 manufacturing projects in the works

    July 14, 2025

    Disclaimer: 5GInvestmentNews.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 5GInvestmentNews. All Rights Reserved.

    No Result
    View All Result
    • Home
    • Privacy Policy
    • suspicious engagement
    • Terms & Conditions
    • Thank you

    © 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.