The Philippines, the largest buyer of Vietnamese rice, is considering increasing import taxes. Meanwhile, the world's leading rice exporter, India, has started implementing an export duty on non-basmati rice.
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Source: thanhnien.vn Will the Philippines revert to a 35% import tax on rice? Agriculture Secretary Francisco Tiu Laurel Jr. stated: The main harvest has begun and the 60-day rice import ban (starting from 1.9) has helped domestic rice prices rise slightly to about 14 pesos (0.24 USD)/kg from the low of 8 pesos/kg. "President Marcos has directed the Department of Agriculture (DA) to prepare the necessary orders to extend the suspension of rice imports," Secretary Tiu Laurel was quoted by the country's press. However, halting imports or extending the ban is considered ineffective. Mid-week, representatives of the Free Farmers' Federation (FFF) proposed: Extending the import ban by 15 to 30 days will not resolve the situation of continuously falling domestic rice prices. The solution to this problem is to restore the 35% tariff rate on imported rice. This proposal is also being considered by the Philippine government along with the extension of the import ban. On June 4, 2024, the ...