Industry players seek deferment of rice tariff cut

Industry players are seeking the deferment of the implementation of the tariff cut on rice imports to provide the local sector ample time to prepare for the impact of the economic measure.

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"We urge the government to reconsider deferring the implementation of Executive Order (EO) 62, which reduces rice tariffs from 35 percent to 15 percent," the Philippine Rice Industry Stakeholders Movement (Prism) said in a recent statement.

"This deferment is essential to provide local farmers and stakeholders sufficient time to adjust and prepare for the economic impact," the group added.

Prism is a group composed of various stakeholders across the rice value chain from seed growers, farmers, millers to traders, importers and retailers.

The rice tariff cut would take effect 15 days after its publication in the Official Gazette last June 20.