MANILA, July 13 — In line with the commitment of the Bureau of Customs (BOC) to the implementation of Republic Act (RA) No. 11203 also known as the Rice Import Tariffication Law, Commissioner Rey Leonardo B. Guerrero reported that the Bureau is on track to meet the P10 billion target tariff collection set under the law.

Historically, R.A. 11203 which took effect on March 5, 2019 was created to address the crisis that the country faced due to the shortage of rice in the country in 2018. The rice tariffication law replaced the former quota system being implemented on rice imports making it easier for importers and traders to import rice to meet local demands and lower market prices as well as the country’s inflation rate.  

The BOC has reported an increase in privately imported rice under R.A. 11203 with a volume of 966,690 metric tons for the months of March to June 2019 as compared to only 185,100 metric tons for the same period in 2018. An increase of 422.25% in volume was observed which can be attributed to R.A. 11203. An average of 256,445 metric tons per month of rice importation after implementation of RA 11203 was recorded compared to 46,275 metric tons average per month for the same period last year. 

The steady volume of rice importation is a strong indication that the BOC will be able to meet the target of P10 billion pesos in tariff collection for the year for remittance to the Rice Competitiveness Enhancement Fund (RCEF) as well as other concerned agencies in connection to RA 11203. The RCEF was created to help palay growers and rice farmers’ cooperatives transition to a new rice regime. At present, BOC already collected P5,889 Billion from rice importation.

Indeed, as the country is aimed to improving its food security, the BOC is likewise committed to do its part to generate revenue and contribute to the advancement of the nation’s rice industry.

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Title of the text:BOC on track to meet the P10 billion rice tariff target

Author/s:Bureau of Customs(BOC)

URL or web address: https://pia.gov.ph/news/articles/1024551?fbclid=IwAR0ajhOgeurVtlyCSIcRUlkoAMcieuRYwEt2wvMhRwAU1zpms_SUsANFJAM

Main Idea:

-Targeting rice tariff for advancement of rice industry and changing the former qouta of rice tariffication law.

Evidences that supports the main idea:

-P10 Billion target tariff collection under the law.

-Easier for the importers and traders to import rice to meet local demands and lower market prices as well as the country’s inflation rate.