Good season, Philippines restricts rice imports from our country

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According to

Rice traders said the Philippine Department of Agriculture had suspended the issuance of “sanitary and phytosanitary clearance” for rice imports from Vietnam.

The Philippines is Vietnam’s largest rice export market, accounting for 40% of total rice exports.

A spokesperson for the Philippine Department of Agriculture confirmed that it is managing the issuance of Sanitary and Phytosanitary Import Permits (SPSICs) to suit needs.

“We only import what we need and we have a sufficient supply now, thanks to a good rainy season harvest,” the spokesman said.

Vietnam’s rice shipments to the Philippines in the first 10 months of this year rose 12.3% from a year earlier to 2.09 million tonnes, according to government customs data.

Previously, Vietnamese rice had to face stiff competition in the Philippines market after the country eliminated the difference in tax rates between imports from ASEAN, non-ASEAN and “Most Favored Nation” (MFN) with the aim of increasing Cheaper rice imports from India and Pakistan.

Specifically, in the middle of this year, the Philippines lowered the “Most Favored Nation” tax on rice to a single rate of 35%, from where it previously imposed a tax of 40% on imported rice within the quota and 50% on imported rice. with imports outside the quota, in line with the tax rate of ASEAN.

At that time, Finance Minister Carlos Dominguez of the Philippines announced that the country would seek more rice from supplying countries outside Southeast Asia, with the goal of diversifying supplies and keeping import prices at a reasonable level. physical. Accordingly, India is a source of cheap rice that can be supplied to the Philippines.

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