Philippines: Reduced MFN Tariff Rates for Rice Imports
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In a bid to diversify market sources and maintain affordable rice prices, the Philippines has temporarily lowered the Most Favored Nation tariff rates for rice. On May 15, 2021, President Duterte signed Executive Order 135, Series of 2021, setting the in-quota and out-quota rice tariff rates to 35 percent, compared to the original 40 percent in-quota and 50 percent out-quota rates. This places the MFN duty in line with the ASEAN rate of 35 percent, although U.S. rice export prospects remain limited due to higher prices. The Philippine government also cited climate change's potential to disrupt local production as a factor for the policy.