THE Department of Agriculture (DA) is hoping to finalize a rice import deal with Pakistan by June next year to shore up sup-plies of the staple.
Discussions involve an allocation of at least 1 million metric tons annually, equivalent to about a quarter of the Philippines' yearly rice import requirement.
The proposal was raised during a recent meeting between Imtaz Kazi, Pakistan's ambassador to the Philippines, and Agriculture Secretary Francisco Tiu Laurel Jr. about possible initiatives to strengthen bilateral agricultural trade.
Kazi was said to have asked whether reduced rice import tariffs would continue, and Tiu Laurel replied that this could be extended to 2028 if necessary.
President Ferdinand Marcos earlier this year slashed tariffs on rice imports to 15 percent from 35 per-cent in a bid to lower prices and temper inflation.
Domestic prices, however, have yet to go down substantially, and Tiu Laurel has accused traders and retailers of profiteering and warned of possible legal action.
The Agriculture Department has started selling lower-priced rice in public markets, seeking to pressure retailers to follow suit, and has also said that it could ask state-owned firms to directly compete with private rice importers.
Kazi said that Pakistan would provide competitively priced rice and proposed that a memorandum of understanding be drafted as soon as possible.
Tiu Laurel said he hoped that an agreement with Pakistan — the Philippines' third-largest rice supplier next to Vietnam and Thailand — would be finalized by June 2025.
As for wider agricultural trade, Kazi said that Pakistan's Muslim market could be tapped for fruit ex-ports, while Tiu Laurel expressed interest in learning about Pakistan's advanced agricultural practices.
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