LOCAL food producers are being “penalized” by the Marcos Jr. administration with its decision to extend lower tariff rates on key food items until the end of 2024, the Samahang Industriya ng Agrikultura (Sinag) said on Wednesday. “It is very unfortunate that the economic team led by Secretaries Ben Diokno…
THE President Marcos Jr.-led National Economic and Development Authority (Neda) Board on Thursday approved the extension of reduced tariff rates on key commodities until the end of 2024 to keep local food prices stable amid the volatile supply situation. In a press briefing, Socioeconomic Planning Secretary Arsenio M. Balisacan disclosed…
THE Philippines is mulling over requiring rice importers to post a bond amounting to at least 10 percent of their import value to ensure that they will bring in their approved volumes amid non-utilization of import clearances. Agriculture Secretary Francisco Tiu Laurel Jr. disclosed on Tuesday that the Department of…
SHORTENING the deadline for the arrival of rice imports could deter price manipulation in the market, the Philippine Chamber of Agriculture and Food Inc. (PCAFI) said. PCAFI President Danilo V. Fausto said the 30-day ultimatum given by Agriculture Secretary Francisco Tiu Laurel Jr. to rice importers to bring in their…
THE Philippine Economic Society (PES) announced that its 61st Annual Meeting and Conference on November 7 to November 8 would look at ways to contribute to a transformed, dynamic and resilient economy in line with the country’s new development blueprint, the Philippine Development Plan (PDP) 2023-2028. “This year, the government aims to steer the country