The Bureau of Customs (BOC) has already exceeded its P10-billion rice import tariff collection target for this year.
“Yes, we have already reached P10.7 billion as of end-September,” Customs Assistant Commissioner Vincent Philip Maronilla told the BusinessMirror on Wednesday.
His confirmation came as the BOC is working with the Department of Agriculture and the Tariff Commission on the possible imposition of safeguard duties on rice imports to protect the farming industry.
Agriculture Secretary William Dar said last month that they are eyeing to raise tariffs on imported rice as early as mid-October in a bid to arrest an oversupply of the staple.
As of September, Dar said, they have already imported 2.4 million tons since March.
Despite the plan to double the current rice import tariff of 35 percent, Maronilla said, they think they would still be able to hit P15 billion even if the volume of rice imports would decrease.
“If they [importers] are going to shoulder [the additional 30 percent to 35 percent safeguard duties], then we’ll still have the same volume, then so much better. But if the volume decreases even by half of our projected price, I think we will still be able to make it because we are going to collect double the duties,” he said.
Under the rice trade liberalization law, or Republic Act 11203, the tariff revenues in excess of the P10 billion shall be earmarked by Congress and included in the General Appropriations Act for the following year.
Moreover, the law also provides that these excess tariff revenues shall be allocated for rice farmers’ financial assistance, titling of agricultural rice lands, expanded crop insurance program on rice, and crop diversification program.
Last month, National Statistician and Civil Registrar Dennis S. Mapa confirmed that average farm-gate price of unhusked rice have gone up from P8 per kilogram to P10 kg, particularly in Luzon.
Meanwhile, the average farm-gate prices of wet palay have reached P14 per kg to P18 kg in other provinces, such as those in the Visayas.