Philippines: Philippine Rice Tariffication Update
On August 14, 2018, the Philippine House of Representatives approved House Bill (HB) 7735, or the proposed “Revised Agricultural Tariffication Act”. HB 7735 sets Most Favored Nation bound tariffs at 40 percent inside the tariff rate quota or minimum access volume (MAV), and 180 percent outside the MAV. Rice imports from ASEAN countries will have no quotas and will be levied a uniform 35 percent duty. HB 7735 sets the rice MAV at 350,000 tons. The Senate bill is still at the committee level and will have to go through three hearings and a vote before reconciling the two bills can proceed.
