Philippines hopes to pass rice tariffication law in 2018.

The government expects the rice tariffication bill to be passed into law by the 2nd half of the year. Under the measure, the prescribed import volume would be removed and imports can eventually be opened to private traders. We expect the tariffication of rice to be in effect later this year maybe 2nd half of this year, because its an urgent legislative measure. The proposed tariff system, filed as House Bill 4904, amends the Agricultural Tariffication Act of 1996. The existing law, which is more than two decades old, allows the National Food Authority (NFA) to monopolize rice importation.