The Tariff Commission will conduct a public hearing next week on a request to extend until next year the validity of Executive Order (EO) 171 series of 2022 which lowered most favored nation tariff rates on pork, corn, rice and coal.
In a notice posted on its website, the commission said the hearing will be conducted on November 9 but interested parties may send their evidences and supporting statements until November 16.
Stakeholders have clamored for the extension, saying the original basis for reducing tariff on said items remain relevant to date.
Tariff rates for these commodities are set to return to their higher rates by next year.
EO 171 cut the duty rates on pork for in quota shipments to 15 percent and for out quota shipments 20 percent to until the end of the year. The rates will revert to 30 percent and 40 percent, respectively, by next year if the EO is not extended.
EO 171 also lowered tariffs of in quota and out quota rice to 35 percent from 40 percent and 50 percent, respectively, while tariff for coal was temporarily removed.
EO 171 lowered tariff of corn to 5 percent for in quota from 35 percent and to 15 percent for out quota from 50 percent.
Based on data from the Department of Agriculture’s Bantay Presyo monitoring of markets in Metro Manila, as of yesterday, the prevailing price of kasim is at P300 per kg while liempo is at P370 per kg.
Imported rice special variety is at P50 per kg; premium at P45 per kg; well-milled at P41 per kg; and regular milled at P38 per kg.
Local rice special variety is at P50 per kg; premium at P45 per kg; well-milled at P40 per kg; and regular milled at P38 per kg. – Jed Macapagal
