PRESIDENT Ferdinand R. Marcos, Jr. has given the go signal to extend the reduction in tariffs on pork, corn, rice and coal for at least one year, amid supply shortages and high inflation, Malacañang said.
pork, corn, rice and coal for at least one year, amid supply shortages and high inThe Palace said in a statement that Mr. Marcos approved the recommendation of the National Economic and Development Authority Board to extend Executive Order No. 171, which reduced Most Favored Nation tariA copy of the new EO was not released by Malacañang.
“Through this policy, we shall augment our domestic food supplies, diversify our sources of food staples, and temper inflationary pressures arising from supply constraints and rising international prices of production inputs due to external conflict,” Mr. Balisacan was quoted as saying in the Palace statement.
Mr. Nelson said the extension also gives the Philippines a chance to receive more “good quality” meat products from the United Kingdom , which has exported 28,000 metric tons of pork products to the Philippines in the“The EO is designed to boost supply in the Philippines,” he said. It will also boost long-term relations between the UK exporters and Philippine importers.s, which they said may threaten the growth of the local agriculture sector.t from the EO.
SINAG noted that the farmgate price of live hogs is only at P155 to 175 per kilo, while imported rice prices are higher than local rice for the past few months.ts at the expense of the producers, consumers and the foregone revenues of government.”
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