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MANILA, Philippines — Former agriculture secretary Leonardo Montemayor yesterday said that farmers should not be blamed for the decision of importers not to bring in rice while waiting for the implementation of Executive Order 62 on reduced tariff on the outsourced staple, following the warning of Agriculture Secretary Francisco Tiu Laurel Jr. that a 60-day temporary restraining order (TRO) against EO 62 could result in a rice shortage.
MANILA, Philippines — Agriculture Secretary Francisco Tiu Laurel Jr. warned of a rice shortage if the Supreme Court issues a 60-day temporary restraining order (TRO) against Executive Order 62, which reduces tariff on rice.
MANILA, Philippines — The Bangko Sentral ng Pilipinas’ (BSP) Monetary Board (MB) has left interest rates untouched, the central bank announced on Thursday.
Agriculture Secretary Francisco P. Tiu Laurel Jr. said Tuesday the Cabinet will discuss an upcoming executive order aimed at cutting import duties on rice after agricultural stakeholders aired their apprehensions over the impact of the impending tariff reduction.
MANILA, Philippines — Agriculture Secretary Francisco Tiu Laurel Jr. said he is open to filing a petition to raise rice tariffs later this year if the reduced rates would prove effective in pulling down the retail prices of the staple to as low as P42 per kilo.
MANILA, Philippines — Rice retailers have committed to selling rice at lower prices, or P45 per kilo, starting in July.
MANILA, Philippines — Farmers’ groups will ask the Supreme Court to stop the implementation of Executive Order 62 that allows a 15 percent tariff on imported rice, down from the current 35 percent, until 2028.
(UPDATES) MALACAÑANG has ordered tariff cuts for rice and other key commodities in an effort to keep prices low and inflation under control.