Bongbong’s Decision to Reject Proposal to Reduce Rice Tariffs Lauded
Bicol Party-list Representative Brian Raymund Yamsuan has expressed support for President Ferdinand “Bongbong” Marcos Jr.’s decision to reject proposals to temporarily reduce tariffs on imported rice. Yamsuan believes that while the aim is to lower rice prices, it should not be achieved at the expense of the country’s 2.4 million rice farmers.
Yamsuan emphasized that the move to flood the market with imported rice would lead to depressed farmgate prices, especially during the peak harvest months of September and October when farmers are expecting to harvest over five million metric tons of palay. According to him, reducing rice tariffs at this time would be a cruel act towards farmers who have worked hard to plant their crops but would not profit from them.
The congressman added that lowering rice import tariffs would deprive farmers of a crucial source of assistance needed for modernizing the sector and increasing their incomes. Under the Rice Tariffication Law, the tariff collections from rice imports contribute to the Rice Competitiveness Enhancement Fund (RCEF), which aims to finance the modernization of the rice sector and provide farmers with access to credit, training, mechanization, technology, and direct assistance.
Yamsuan cited government data stating that nearly P23 billion was collected in import duties from rice shipments in 2022, and by August 2023, the Bureau of Customs had already collected P17 billion in rice import tariffs. He explained that the proposal to cut rice import tariffs would harm farmers twice – they would lose income due to competition from imported rice while also missing out on assistance and benefits because of lower tariff collections.
Yamsuan’s party-list is based in the Bicol Region, which contributes close to 7 percent of the country’s total rice production. President Marcos, who is also the Secretary of the Department of Agriculture, had previously rejected a recommendation to lower import tariffs on rice, citing projections that global rice prices would soon decrease, making it inappropriate to reduce import tariffs at this time.
