{"id":19549,"date":"2024-07-02T03:04:34","date_gmt":"2024-07-02T03:04:34","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/govt-urged-to-prepare-for-expected-surge-in-rice-imports\/"},"modified":"2024-07-02T03:04:34","modified_gmt":"2024-07-02T03:04:34","slug":"govt-urged-to-prepare-for-expected-surge-in-rice-imports","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/govt-urged-to-prepare-for-expected-surge-in-rice-imports\/","title":{"rendered":"Gov\u2019t urged to prepare for expected surge in rice imports"},"content":{"rendered":"
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THE MARCOS ADMINISTRATION <\/span>should ensure that the lower tariffs <\/span>on imported rice will not result in a further decline in rice self-su<\/span>ff<\/span>iciency, the Philippine Chamber of Agriculture and Food, Inc. (PCAFI) said. <\/span><\/p>\n

In a letter to President Ferdinand R. Marcos, Jr., PCAFI President Danilo V. Fausto aired the group\u2019s \u201cgrave concerns\u201d over the recent issuance of Executive Order No. 62 which slashed tarif<\/span>fs on rice to 15% until 2028.<\/p>\n

\u201cThe challenge to EO 62 is how to implement it without a further decline in self-suff<\/span>iciency in this age of climate change and geopolitical disruptions,\u201d he said.<\/p>\n

Mr. Fausto said the government should reassure the rice sector by preparing for a surge in rice imports through the Special Rice Safeguard under Republic Act (RA) No. 11203 or the Rice Tariffication Law (RTL). <\/span><\/p>\n

\u201cThis means determining the volume or price triggers, as the case may be, as soon possible. The last administration, ignoring the said mandatory provision, did not even bother to compute for either one,\u201d he said.<\/p>\n

Mr. Fausto noted the RTL was implemented by the previous administration to benef<\/span>it traders, to the detriment of consumers and rice farmers. He also claimed the law decreased the country\u2019s self-suff<\/span>iciency to 75%-80% from 90%-95%.<\/p>\n

Under the law, a special safeguard duty on rice \u201cshall be imposed\u201d in order to protect the Philippine rice industry from <\/span>sudden or extreme price <\/span>f<\/span>luctuations.<\/span><\/p>\n

This is in accordance with RA 8800, or the Safeguard Measures Act, as well as its implementing rules and regulations, the law stated.<\/p>\n

Mr. Fausto said that EO 62 has generated \u201ccontroversy\u201d due to the non-conduct of \u201cgenuine and timely consultations.\u201d He said the National Economic and Development Authority\u2019s (NEDA) insistence that the hearings of the Tari<\/span>f<\/span>f Commission last year constitute compliance with due process \u201cdamages its credibility as a crisis manager.\u201d <\/span><\/p>\n

He said that the system is f<\/span>lawed as NEDA, which proposed the tarif<\/span>f cuts, has jurisdiction over the designated fact-finding body, the Tariff Commission.<\/p>\n

\u201cThe sectors are left with no choice but to f<\/span>ile a case on the issue of due process. By NEDA\u2019s logic, it can go back to hearings conducted 10 or 20 years ago and insist that the proceedings therein would constitute compliance as long as they involved the same sector,\u201d he said.<\/p>\n

\u201cThis is dangerous. There will be no more new hearings,\u201d he added.<\/p>\n

Raul Q. Montemayor, national manager of the Federation of Free Farmers, told BusinessWorld<\/i> in a Viber message that the Special Rice Safeguard is \u201cvery weak.\u201d<\/p>\n

\u201cThe additional tarif<\/span>f cannot exceed 1\/3 of the applied tarif<\/span>f. In the case of rice, the maximum additional tarif<\/span>f we can apply is 5%, and it can be applied only from the time we breach the trigger up to the end of the year, even if the import surge spills over to the next year,\u201d Mr. Montemayor said.<\/p>\n

\u201cWhat will be more ef<\/span>fective are the general safeguards, where there are no limitations on the additional tarif<\/span>f that can be imposed, and which can be put in place from 200 days up to 2 years. But this needs real-time data to determine if there is a surge and that the surge is hurting farmers,\u201d he added.<\/p>\n

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said that lower rice import tarif<\/span>fs would mean a 20% discount on imported rice.<\/p>\n

\u201cRice accounts for nearly 9% of the consumer price index (CPI) basket, so imported rice accounts for nearly 1.8% of the CPI basket,\u201d said Mr. Ricafort in a Viber message.<\/p>\n

\u201cThus, lower imported rice tarif<\/span>fs and prices would help reduce headline inflation by about 0.36, on a standalone basis, but more if locally produced rice prices go down as a result of lower prices and tarif<\/span>fs on imported rice,\u201d he added.<\/p>\n

\u201cThus, average inflation towards 3% becoming more feasible, going forward.\u201d<\/p>\n

Asked about the imposition of safeguard duties, Mr. Ricafort said that it would \u201cef<\/span>fectively increase the price of imported rice and would help support farmgate palay prices and the incomes of palay farmers.\u201d<\/p>\n

Meanwhile, Mr. Fausto also recommended the allocation of more f<\/span>inancial resources to help the agricultural sector through \u201cenhanced guarantees for credit and insurance for farmers and millers.\u201d<\/p>\n

The government should also create programs to allow local government units to procure agricultural products directly from farmers and cooperatives during \u201ctimes of surplus or market failure,\u201d he said.<\/p>\n

Mr. Fausto said the government should boost the National Food Authority\u2019s (NFA) f<\/span>inancial and storage capacity to buy more palay.<\/p>\n

He also criticized the EO\u2019s provision that allows the NEDA to review the tarif<\/span>fs on rice every four months.<\/p>\n

\u201cNEDA is a very ideological agency. It has a well-known bias against local producers, especially those in agriculture and f<\/span>isheries,\u201d he said. \u2014 J.I.D.Tabile<\/b><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

THE MARCOS ADMINISTRATION should ensure that the lower tariffs on imported rice will not result in a further decline in rice self-sufficiency, the Philippine Chamber of Agriculture and Food, Inc. (PCAFI) said. In a letter to President Ferdinand R. Marcos, Jr., PCAFI President Danilo V. Fausto aired the group\u2019s \u201cgrave concerns\u201d over the recent issuance [\u2026]<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[14644,4818,168,177,13719,13108,966,1762,2256],"class_list":["post-19549","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-bworldonline","tag-expected","tag-for","tag-govt","tag-imports","tag-prepare","tag-rice","tag-surge","tag-urged"],"yoast_head":"\nGov\u2019t urged to prepare for expected surge in rice imports - Energy Buzz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energybuzz.ph\/govt-urged-to-prepare-for-expected-surge-in-rice-imports\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t urged to prepare for expected surge in rice imports - Energy Buzz\" \/>\n<meta property=\"og:description\" content=\"THE MARCOS ADMINISTRATION should ensure that the lower tariffs on imported rice will not result in a further decline in rice self-sufficiency, the Philippine Chamber of Agriculture and Food, Inc. 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Fausto aired the group\u2019s \u201cgrave concerns\u201d over the recent issuance [\u2026]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/energybuzz.ph\/govt-urged-to-prepare-for-expected-surge-in-rice-imports\/\" \/>\n<meta property=\"og:site_name\" content=\"Energy Buzz\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-02T03:04:34+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/govt-urged-to-prepare-for-expected-surge-in-rice-imports\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/govt-urged-to-prepare-for-expected-surge-in-rice-imports\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/person\\\/344f8dbaaecf75e51367eef93f492892\"},\"headline\":\"Gov\u2019t urged to prepare for expected surge in rice imports\",\"datePublished\":\"2024-07-02T03:04:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/govt-urged-to-prepare-for-expected-surge-in-rice-imports\\\/\"},\"wordCount\":789,\"publisher\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#organization\"},\"keywords\":[\"bworldonline\",\"expected\",\"for\",\"gov\u2019t\",\"imports\",\"prepare\",\"rice\",\"surge\",\"urged\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/govt-urged-to-prepare-for-expected-surge-in-rice-imports\\\/\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/govt-urged-to-prepare-for-expected-surge-in-rice-imports\\\/\",\"name\":\"Gov\u2019t urged to prepare for expected surge in rice imports - 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