The Bureau of Customs (BOC) collected P5.9 billion in tariffs from some 1.43 million metric tons (MMT) of rice imported by traders following the implementation of the rice trade liberalization law in March, according to the Department of Finance (DOF).
In a report to Finance Secretary Carlos G. Dominguez III, Customs Commissioner Rey Leonardo B. Guerrero said preliminary data indicated that the Subic Bay port recorded the highest collection of rice tariffs at P1.37 billion.
During a recent DOF
Executive Committee meeting, Guerrero also reported that the Port of Manila
collected P978.51 million in tariffs, followed by the Manila
International Container Port (MICP) with P942.76 million.
The Port of Cagayan de Oro collected P754.13 million in tariffs from rice imports, while the Port of Davao recorded P703.93 million.
Republic Act (RA) 11203 was signed and approved by President Duterte last February 14 and took effect on March 5. It converted the quantitative restriction on rice into tariffs.
Dominguez said RA 11203 is a “proud accomplishment” of the Duterte administration as it took more than 30 years to get Congress to pass a “game-changing” reform.
He said liberalizing rice imports will not only make quality rice more affordable and accessible to Filipinos, but will also lower the country’s inflation rate and help farmers become more productive and competitive.
According to the DOF, liberalizing rice imports has made the staple food more affordable to Filipinos, as retail prices fell by P10 per kilogram.
RA 11203 also mandated the creation of the P10-billion Rice Competitiveness Enhancement Fund (RCEF) to help palay growers and their farmers’ cooperatives transition to a new trade regime.
RCEF aims to provide farmers tools and equipment, assistance in the production, promotion, and distribution of certified rice seeds, upgrading of post-harvest storage facilities, credit assistance, irrigation support, and research and development (R&D) support.
The BOC-MICP said the DOF will publish a guide for businesses on the rice import process to enable them to take advantage of the liberalized rice importation policy in the country.
The MICP said the guide is a product of the focused group discussion (FGD) spearheaded by Finance Assistant Secretary Antonio Joselito G. Lambino II last June 27.
The FGD included representatives from randomly selected businesses that are into rice trading even before the passage of RA 11203.
“The discussion centered on extracting feedback from the private sector on the proposed information materials on rice importation. The DOF is compiling a resource material that can be used by businesses as a guide into the rice import process if they wish to take advantage of the liberalized rice importation policy in the country,” the MICP statement read.
Based on proposals during the FGD, the resource material will be used as an official guide on the rice importation process which will include flowcharts on the methods of importation, the documentary requirements from each agency, an estimated timeframe for every step, and the contact information of the involved offices. Rea Cu
Image credits: Nonie Reyes