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USMEF economist comments on Philippine tariff rate cut
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February 3, 2021
IARN The Philippine government is expected to discuss a proposal to reduce its pork tariff rates for in-quota and out-quota imports.
African Swine Fever has had a dramatic impact on pork production in the Philippines. As a result, agricultural officials in the country are considering a number of options for bolstering pork supplies and stabilizing prices. U.S. Meat Export Federation economist Erin Borror says the Philippines’ ability to supplement inventories with imported pork is hampered by very high tariff rates.
“The Philippines has the highest tariffs of any major import market,” Borror said. “They have a 30 percent tariff on imports of pork cuts, and that’s within a 54,000-ton quota. Anything over that pays a tariff of 40 percent. Their imports of pork cuts you have the double whammy of it being a price sensitive market and the highest tariffs in the world. It’s somewhat capped their ability to import.”
Feb 02, 2021
African swine fever (ASF) has had a dramatic impact on pork production in the Philippines, where agricultural officials are considering a number of options for bolstering pork supplies and stabilizing prices.
U.S. Meat Export Federation (USMEF) Economist Erin Borror said the country’s shortage really started to occur last year in 2020 during the pandemic. USDA estimates pork production in the region was down 30% year over year, and their imports were lower, as well.
“The situation has continued to intensify with ASF still spreading, disincentivizing producer to try to rebuild, even though hog prices are quite high,” Borror noted.