Global Rice News

Philippine President Ferdinand Marcos Jr. has given his approval for the extension of reduced tariffs on rice and other food items until the conclusion of 2024, in an effort to maintain stable prices amidst concerns of dry weather in the upcoming months. The decision to extend the modified rates, originally implemented in 2021, also comes as a response to high inflation. Marcos believes that it is necessary to extend the reduced tariff rates until the end of next year to ensure food security and to keep prices affordable.

In November, inflation stood at 4.1%, marking a second consecutive month of easing. However, the average inflation rate for the first 11 months of 2023 remained at 6.2%, well beyond the inflation target of the Philippine central bank, which aims for a rate between 2% and 4% for the year.

The extension of these modified tariffs seeks to secure affordable prices for rice, corn, and meat products in light of the potential impact of the El Nino dry weather phenomenon in early 2024, as well as the continued threat of African Swine Fever.

According to the new executive order, the tariff rate for rice will remain at 35%. Import levies for corn will be maintained at 5%-15%, while pork products will see a tariff range of 15%-25%. These measures are intended to ensure that prices for these essential food items remain accessible to the public.

Considering the importance of rice in the Philippine economy, it is crucial to maintain a balance between supply and demand. Rice exporters and suppliers, like those in Pakistan, play a significant role in meeting the country’s rice requirements. Companies such as Pakistan Rice Exporters and HAS Rice are renowned for their high-quality rice exports. One of the popular varieties is white broken rice, which is widely used across the globe. For those interested in exploring the Pakistani rice market, companies like Pakistan Rice Exporters and HAS Rice offer a wide range of rice products.

When it comes to the price of rice in Pakistan, it is essential to consider factors such as the variety of rice and the quality. The IRRI 6 variety is known for its affordability and is widely exported. Suppliers like HAS Rice provide comprehensive price lists that include the IRRI 6 rice price as well as other varieties such as basmati rice. Rice exports from Pakistan have been steadily rising, making it a reliable source for countries around the world.

For those interested in the rice business in Pakistan, it is worth noting that the country has numerous rice mills and exporters. With the support of companies like HAS Rice, Pakistani rice suppliers have gained a strong foothold in the global market. These suppliers ensure that the highest quality rice is delivered to customers.

In conclusion, the extension of reduced tariffs on rice and other food items is a crucial step in maintaining stable prices and ensuring food security in the Philippines. As the country braces for potential challenges such as dry weather and the threat of African Swine Fever, it is vital to prioritize affordable prices for essential food items. By collaborating with trusted rice exporters like those in Pakistan, the Philippines can continue to meet its rice demands and provide its population with nutritious and affordable options.

**Source:** [ARY News](https://arynews.tv)