MANILA – President Rodrigo Duterte reduced the tariff rates for imported pork meat to five percent to 20 percent from 30 percent to 40 percent for a year.
This is provided under the Executive Order (EO) 128 issued by the President on Wednesday.
Under EO 128, the tariff rate for imported pork within quota or minimum access volume (MAV) – whether fresh, chilled or frozen – will be pegged at five percent for the first three months upon the EO’s effectivity and 10 percent for the fourth to 12 months.
However, tariff rate for imported meat outside of the MAV was set to 15 percent for the first three months upon the EO’s effectivity and 20 percent for the fourth to 12th months.
The existing 30 percent to 40 percent tariff rate for imported pork will be restored after the 12th month.
“There is an urgent need to temporarily reduce the most favored nation tariff rates on fresh, chilled or frozen meat of swine to address pork supply shortage, stabilize prices of pork meat and minimize inflation rates,” the EO said.
The lowered tariff rates were recommended by the National Economic Development Authority.
The Chief Executive issued the EO a day before the 60-day price cap on pork and chicken in the National Capital Region expires today.
The African swine fever (ASF) already wiped out four million hogs amid the coronavirus disease 2019 pandemic, causing pork supply woes and high pork meat prices.(GMA News)
