June 13, 2022
Philippines to allow import of more pork and corn through adjustment of tariffs
Philippines President Rodrigo Duterte had issued Executive Order (EO) No. 171 to modify tariff rates for pork, corn, rice and coal, thus facilitating the import of more goods into the country at lower prices.
This is among the key recommendations of the Economic Development Cluster in addressing the inflationary impact of the war in Ukraine.
EO No. 171 extends the validity of EO 134 and 135, which lowered the most favored nation tariff rates for the importation of pork and rice.
The EO also reduces most favored nation tariff rates for corn to 5% in-quota and 15% out-quota, citing that corn accounts for more than 50% of the total production cost of large-scale broiler and swine farms.
- National Economic and Development Authority (Philippines)