The Department of Agriculture (DA) has requested the Department of Finance (DOF) to lower tariffs on 300,000 metric tons (MT) of corn that will be imported by traders to plug the shortfall in output caused by El Nio.
The Department of Agriculture (DA) has requested the Department of Finance (DOF) to lower tariffs on 300,000 metric tons (MT) of corn that will be imported by traders to plug the shortfall in output caused by El Nio.
Corn farmers have thrown their support behind the measure, but they cautioned that shipments should come from countries that remain free from African swine fever (ASF) to protect the local livestock sector from the killer hog disease.
Agriculture Secretary Emmanuel F. Piol said he has asked Finance Secretary Carlos G. Dominguez to lower the tariff on corn to 5 percent, the same rate applied on shipments from Asean members. Corn imports outside of Asean are slapped a tariff of 35 percent.
See full article at Business Mirror
