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Philippines to levy nearly P19 billion in tariffs on rice imports in 2021

 Last Update: 2022-03-02
 Source: Internet
 Author: User

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According to a report by the Philstar the General Administration of Customs of the Philippines said that in 2021, the Philippines will levy nearly 19 billion pesos on rice imports , an increase of 22% from 15.
5 billion pesos in 2020 .
Under the Rice Trade Liberalization Act, the government is required to allocate P10 billion annually to the Rice Competitiveness Enhancement Fund (RCEF) to improve the livelihoods of farmers hit by rice imports .
In addition to funding RCEP, the Philippine taxes on imported rice will also be used for financial assistance to rice farmers, securing agricultural rice land ownership, expanding rice crop insurance and crop diversification .

Philippine General Administration of Customs rice import

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