Philippines

April 2008 | Ratings Update

The Philippines will scrap its 300,000 tonne ceiling on rice imports, and replace its 50% import tariff on rice with a minimal PHP2/kg service fee, in an attempt to encourage the private sector to bolster the state's efforts to make up the shortfall between growing demand and dwindling supply. Private traders, as a result of restrictive government policies, have been largely marginalised when it comes to rice imports, with the 300,000 tonne annual quota rarely being fulfilled. However, with the situation becoming increasingly desperate, it is hoped that the relaxation of import policies will encourage the private sector to participate more actively in securing much needed rice supplies.

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