THE Philippines’ largest feed millers group has urged the government to further extend Executive Order (EO) No. 10 which lowered the tariff on imported corn from 35 percent to 5 percent.
Edwin Mapanao, president of Philippine Association of Feed Millers, Inc. (PAFMI), said while they prioritize locally produced corn for the feeds, the supply is not enough.
He said the big challenge is to bridge the gap, especially with El Niño expected to have a significant impact on the country’s agriculture next year.
“We need to prepare for this,” Mapanao said.
He noted that Vietnam has only a 2 percent tariff on corn, while Thailand has zero tariff. This means that these countries are better positioned to bring in raw materials from Latin American and non-ASEAN countries.
In August this year, the government conducted a review on the possible further extension of reduced tariff on pork, corn, rice and coal, according to the Department of Finance.
President Ferdinand R. Marcos Jr. signed EO No. 10 late last year extending the temporary modification of rates of import duty on various products including meat, corn and rice in a bid to maintain affordable prices and augment the supply of agricultural commodities in the country.
EO No. 10 extended the reduced Most Favored Nation (MFN) tariff rates on meat of swine (fresh, chilled or frozen) at 15 percent (in-quota) and 25 percent (out-quota); corn at 5 percent (in-quota) and 15 percent (out-quota); rice at 35 percent (in-quota and out-quota); and coal at zero duty until the end of this year. (ABS-CBN News/Philippine News Agency)
