Abono, SINAG call for repeal of failed EO on rice
ONLY BENEFITED TRADERS, IMPORTERS
THE chairman of the Abono Partylist and the Samahang Industriya ng Agrikultura (SINAG) called for the repeal of Executive Order (EO) No. 62, citing its failure to reduce rice prices as intended and the adverse effects on local consumers.
In a letter dated March 3, 2025 addressed to Tariff Commission Chairperson Marilou Mendoza, SINAG and Abono Chairman Rosendo So sought the reinstatement of the tariffs on rice to its original rate of 35% to ASEAN countries and 50% to non-ASEAN countries by repealing the EO 62, series of 2024.
The groups said this policy failed to meet expectations and, in fact, led to higher rice prices.
So said that the House of Representatives’ Quinta Committee (Murang Pagkain SuperCom) cited a Philippine Statistics Authority data showing that domestic rice prices surged from P51 per kilo in July 2024 to P55.30 per kilo in December 2024 despite the reduction in the landed price of imported rice by P11 per kilo.
President Ferdinand Marcos Jr. issued EO 62 on June 20, 2024, modifying the import duty rates of various commodities. EO 62 provides a multi-year comprehensive tariff schedule and applies to commodities subject to the Most Favored Nation (MFN) rates. Tariff rates on agricultural /food commodities remain the same except for rice, which was brought down to 15% from 35 percent.
The QuintaCom, a legislative body tasked with monitoring food prices, revealed that the gap between domestic rice prices and the landed price of imports grew substantially, widening from P3 per kilo in 2023 to P20 per kilo in 2024.
The letter also cited the National Economic and Development Authority’s (NEDA) acknowledgment that the expected reductions in rice prices have not materialized.
Instead, the tariff cuts appear to have benefited importers and traders rather than consumers.
Data from the Quinta Committee shows that these groups collectively profited by a staggering P13 billion after the tariffs were slashed under EO 62.
“All these are more than enough reasons for the repeal of EO 62,” said So in the letter, calling on the Tariff Commission to act swiftly in addressing the economic impact of the executive order on Filipino consumers. (Eva Visperas)
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