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President Marcos approves rice tariff cut to 15 percent until 2028

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To bring down the price of rice to P29 per kilo, President Marcos has lowered the tariff for imported rice until 2028, according to Socioeconomic Planning Secretary Arsenio Balisacan.

Workers arrange sacks of National Food Authority palay or unmilled rice inside their warehouse in Balagtas, Bulacan on May 22, 2024.MANILA, Philippines —

“But overall, with the tariff reduced from 35 to 15 percent, everybody will benefit from that. This is crucial because world prices are still increasing,” he added. Balisacan gave assurance that the lower rice tariff would not lower earnings for the government, but would increase economic activities. Meanwhile, the NEDA Board retained the tariff cover for other agricultural products, including sugar and vegetables such as onion, garlic, broccoli, carrots, cabbage, lettuce, sweet potatoes, cassava, coffee substitutes, complete feeds and feed preparations.

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