MANILA – President Ferdinand Marcos Jr has set guidelines on planned changes in tariffs for rice to the Philippines, the world’s top importer, starting in 2026.
In an executive order issued on Nov 9, Mr Marcos said tariff adjustments based on movements in international prices will go into effect on Jan 1, after extending 15 per cent rice import tariffs until year end.
Import duties will be increased by 5 percentage points for every 5 per cent decline in world rice prices, or lowered by 5 percentage points for every 5 per cent increase in global prices, according to the order.
“However, the Most Favoured Nation rates of duty on rice, both in-quota and out-quota, shall in no case be below 15 per cent or above 35 per cent,” the order stated.
Mr Marcos also created an inter-agency group to formulate guidelines for implementing the tariffs, and to monitor and adjust rice import taxes in response to changes in world prices.
The Philippines recently banned rice imports until the end of 2025 to protect local farmers, especially during the peak harvest season.
As at the end of September, the Philippines had imported 3.5 million tonnes of rice for the year to date, about 800,000 tonnes more than what was needed, its Agriculture Department data shows.
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