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- (-) June 2024
- (-) Philippines
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Rice export prices further dropped 1-2 percent despite the strengthening of the Thai baht.
On June 20, 2024, President Ferdinand Marcos Jr. issued Executive Order No. 62 (EO 62) modifying the import duty rates of various commodities. EO 62 provides a multi-year comprehensive tariff schedule and applies to commodities subject to the Most Favored Nation (MFN) rates.
Rice export prices further dropped one percent due to the weakening of the Thai baht.
Fueled by Filipinos' fondness for food indulgences, rising disposable incomes, and increasing urbanization, the $1.2 billion confectionery and ice cream market is expected to see robust growth of eight percent annually through 2028.
Rice export prices dropped one percent due to the weakening of the Thai baht.
Rice export prices increased one percent due to the strengthening of the Thai baht.