RA11203: AN ACT LIBERALIZING THE IMPORTATION, EXPORTATION AND TRADING OF RICE, LIFTING FOR THE PURPOSE THE QUANTITATIVE IMPORT RESTRICTION ON RICE, AND FOR OTHER PURPOSES
Republic Act (RA) 11203, enacted on February 14, 2019, amends Republic Act (RA) No. 8178, also known as the Agricultural Tariffication Act of 1996. The law seeks to replace quantitative import restrictions on rice with tariffs, with the aim of ensuring food security and making the country's agricultural sector more competitive.
What is RA 11203?
RA 11203 liberalizes the rice trade, allowing for greater importation of rice while providing support to local farmers through the Rice Competitiveness Enhancement Fund (RCEF). This aims to stabilize rice prices and make it more affordable for consumers while enhancing the competitiveness of Filipino rice farmers.
Other Key Provisions:
Tariff on Rice Imports: The law imposes a 35% tariff on rice imports from ASEAN countries and 40% on rice imports from non-ASEAN countries within the minimum access volume (MAV) commitment.
Rice Competitiveness Enhancement Fund (RCEF): The law creates the RCEF, which provides P10 billion annually for six years to support local rice farmers through programs for farm mechanization, seed development, expanded credit assistance, and extension services.
Special Rice Safeguard: The law allows for the imposition of a special safeguard duty on rice in case of sudden or extreme price fluctuations to protect the local rice industry.
Removal of Quantitative Export Restrictions: The law lifts quantitative export restrictions on rice, allowing for greater flexibility in rice exports.
National Single Window Program: The law mandates the implementation of the National Single Window program to streamline customs procedures and ensure the accurate collection of tariffs.