THE GOVERNMENT will maintain a two-month buffer stock of sugar to contain price volatility in the commodity, Malacañang said in a statement on Monday, citing a briefing President Ferdinand R. Marcos, Jr. delivered en route to the Davos conference in Switzerland. “We will maintain from now on, in sugar, a two-month buffer stock,” Mr. Marcos […]
Tag: imports
ASEAN sugar seen generating most savings if PHL imports
SUGAR imports from within the Association of Southeast Asian Nations (ASEAN) are expected to yield the Philippines savings of $480.82 per metric ton, the United States Department of Agriculture (USDA) said. Imports from ASEAN are subject to more favorable trade terms than goods from trade partners enjoying Most Favored Nation (MFN) status, for which savings […]
US chamber pushes for repeal of agri foreign investment cap
THE American Chamber of Commerce of the Philippines (AmCham) has called on the government to remove foreign investment restrictions in the rice and corn industry if it wants to boost farm productivity. AmCham issued the statement after President Ferdinand R. Marcos, Jr. extended tariff reductions on pork, rice, corn, and coal until the end of […]
Onion importers given until Jan. 27 to land their shipments
ONION importers cleared to ship in 21,060 metric tons (MT) of the produce have been given until Jan. 27 to bring in their cargoes in order not to unduly interfere with market conditions during the domestic onion harvest, the Department of Agriculture (DA) said. According to a letter to the Bureau of Plant Industry (BPI) […]
Extension of low tariff scheme seen encouraging more UK pork shipments
THE volume of pork shipped in from the UK will likely increase with the extension of a low-tariff scheme designed to contain inflation, the British Chamber of Commerce of the Philippines (BCCP) said. “We anticipate further growth in our pork exports in 2023, although the base is now higher, and therefore the growth rate may […]
Pork supply exceeds demand, Senate panel finds, casting doubt on gov’t import policy
By Alyssa Nicole O. Tan, Reporter THE Senate Agriculture, Food and Agrarian Reform Committee was told that the supply of pork exceeded demand in each of the years since 2019, raising questions about the government’s pork import policy. Senator Cynthia A. Villar, who chairs the committee hearing, on Monday cited data indicating a pork surplus […]
Pinoys in Japan win most of their Christmas games; Abarrientos beats Belangel
MOST of the Filipino imports in the Japan league won their respective Christmas games, while RJ Abarrientos prevailed in his match against fellow national team guard SJ Belangel in the Korean Basketball League. Thirdy Ravena, Matthew Wright and Ray Parks Jr. helped their teams win in the Japan B. League. Mr. Ravena, the first Filipino […]
PHL imports, consumption of distilled spirits seen returning to pre-pandemic levels by 2023
PHILIPPINE imports and consumption of distilled spirits are expected to return to pre-pandemic levels as pandemic restrictions ease, the Global Agricultural Information Network (GAIN) said in a report. “Prospects for growth are exceptionally bright due to the country’s young, fast growing, and highly urbanized population, the strong presence of premium US brands, and the proliferation […]
Import permits suspended for galunggong, mackerel
THE Department of Agriculture (DA) said it has suspended the issuance of sanitary and phytosanitary import clearances for round scad (galunggong), mackerel, and various other species, effective immediately. According to a department circular dated Dec. 13, the suspension also applies to the issuance of import documents for bonito, moonfish, pompano, and tuna by-products. The DA […]
Farmers lobby against extension of lowered food import tariffs
FARMER organizations are asking the government not to extend a scheme of lowered tariffs on food imports, which expire at the end of the year. Arguing the absence of benefit to consumers, the organizations said in a joint statement on Wednesday that President Ferdinand R. Marcos, Jr. should not extend Executive Order (EO) 171, and […]
Latest look into the country’s oil and gas industry
In today’s economy, oil and gas are vital resources. They generate energy to power critical facets of the economy, such as transportation and electricity. Oil is also an important material to create products like plastics and chemicals. Thus, the stability of the oil supply, as the Department of Energy (DoE) said, is “of paramount importance […]
Farmers lobby Marcos not to extend EO setting low rice tariffs
THE Federation of Free Farmers (FFF) asked President Ferdinand R. Marcos, Jr. not to extend the effectivity of an executive order setting lower tariffs for rice imports. FFF National Manager Raul Q. Montemayor said in a statement on Monday that lower tariffs do not benefit consumers. Executive Order (EO) No. 171 signed by former President […]
Extended low tariffs for pork, rice seen needed, but farm lobby says traders cornering benefits
A PROPOSAL to extend lowered tariffs for pork, rice, corn, and coal will temper the effects of surging inflation, the Foundation for Economic Freedom (FEF) said. Kristine F. Alcantara, FEF fellow, said during a hearing of the Tariff Commission (TC) on Wednesday that extending the effectivity of Executive Order (EO) No. 171 would help […]
Meat processors lobby for continued low tariffs on deboned meat imports
MEAT processors said the retention of the 5% most-favored nation tariff on mechanically deboned meat (MDM), which it relies on as a key raw material, will help keep food inflation in check. Jerome D. Ong, vice-president of the Philippine Association of Meat Processors, Inc. (PAMPI), said at a virtual hearing of the Tariff Commission (TC) […]
Inventory of refined sugar imports up 20% year on year at mid-October
THE inventory of imported refined sugar at mid-October is about 20% higher than their year-earlier levels, a sugar planter’s representative on the Sugar Regulatory Administration (SRA) said. Pablo Luis S. Azcona, a member of the SRA board, said the estimate for inventory levels is as of Oct. 16. He did not give specific volume estimates. […]
Lower pork tariffs to be extended
THE MARCOS administration is planning to extend lower tariff rates on key commodities such as pork, corn, rice, and coal to next year, Finance Secretary Benjamin E. Diokno said, as the government seeks to curb rising food inflation. “[The] economic managers have repeatedly raised the needed measures to address food inflation. In the last Cabinet […]
Polyethylene import duties seen to protect petrochemical industry
THE recently imposed duties on high-density polyethylene (HDPE) imports will protect the local petrochemical industry from cheap foreign resins entering the country, according to JG Summit Olefins Corp. (JGSOC). On Wednesday, the Department of Trade and Industry (DTI) ordered the imposition of safeguard duties on imports of HDPE pellets and granules for three years. “This […]
Cement industry says ‘premature’ to let safeguard measures vs imports expire
THE cement industry said it requires more time to adjust to competition from imports with the looming expiry of safeguard measures protecting domestic manufacturers on Oct. 22, which the Tariff Commission (TC) did not extend. Cirilo M. Pestaño, Cement Manufacturers Association of the Philippines, Inc. (CeMAP) executive director, said in a statement on Monday that […]
USDA raises PHL rice import forecast to 3.4 million MT
PHILIPPINE rice imports are expected to rise to 3.4 million metric tons (MT) in the July 2022-June 2023 period, the US Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) said, upgrading its previous forecast of 3.3 million MT. “Rice is a highly political crop in the Philippines, and supply sufficiency is very important for the […]
PHL lifts ban on poultry products from Hungary
THE Department of Agriculture (DA) has lifted the temporary ban on imports of poultry products from Hungary, which is now free from Highly Pathogenic Avian Influenza (HPAI) or bird flu. “In accordance with the provisions of the World Organisation for Animal Health Terrestrial Animal Health Code, Hungary is now free from HPAI,” according to the […]