MANILA, Philippines — Agriculture Secretary Francisco Tiu Laurel Jr. warned of a rice shortage if the Supreme Court issues a 60-day temporary restraining order against Executive Order 62, which reduces tariff on rice.
Several farmers’ groups vowed to file a petition before the high tribunal to stop the implementation of EO 62 that allows a 15 percent tariff on imported rice, down from the current 35 percent, until 2028. But Tiu Laurel countered, saying “the TRO will only hurt us. It was already decided. Once a TRO is filed and assuming a 60-day will be granted, the retail prices of rice will not go down. The retail price of rice will really result in cheaper rice once the tariff is brought down to 15 percent.”
According to Tiu Laurel, initially, he was not also consulted on the decision of the NEDA board to approve the 15 percent tariff on rice.“I think one year is enough and the President has agreed with the recommendation of the industry that there will be an evaluation every four months. I think it is fair so that if we see the need to increase , we can increase it.