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Import duty on pork products reduced
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Lower pork tariffs seen creating winners, losers
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Lower pork tariffs seen creating winners, losers
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President Rodrigo Roa Duterte
The President’s decision on lower tariff rates came days after asking Congress to increase the minimum access volume (MAV) for pork imports this year by 350,000 metric tons.
Under EO No. 128, the President approved the reduction of import tariff for fresh, chilled or frozen pork to 5 percent from 30 percent under the MAV quota for three months. The rate will be increased to 10 percent in the next nine months. After a year, it will return to the 30 percent tariff rate.
For pork imports beyond the quota, the tariff rate will be cut to 15 percent from 40 percent for the first three months. It will be raised to 20 percent in the next nine months. It will be back to 40 percent after a year.
April 8, 2021 | 12:35 am Font Size
by Kyle Aristophere T. Atienza, Reporter
Philippine President Rodrigo R. Duterte on Wednesday signed an executive order (EO) temporarily lowering tariffs on imported pork meat for one year, in order to address the current supply shortage due to the African swine fever (ASF) outbreak.
“There is an urgent need to temporarily reduce the Most Favored Nation tariff rates on fresh, chilled or frozen meat of swine to address the existing pork supply shortage, stabilize prices of pork meat, and minimize inflation rates,” Mr. Duterte said in EO No. 128, which was signed on April 7.
This, after the President asked Congress last month to increase the minimum access volume (MAV) for pork imports this year by 350,000 metric tons (MT) on top of the 54,210 MT under the current limit.