Philippines Extends Lower Import Tariffs on Rice, Corn, Pork through 2024 to Tame Inflation
- Philippines extends reduced tariffs on imported rice, corn, and pork until end of 2024
- Aims to keep food prices stable amid threat of dry weather and inflation
- Inflation was 4.1% in November, down for 2nd month, but averaged 6.2% in 2023
- Tariff rate for imported rice stays at 35% under extension
- Pork and corn import tariffs also remain at reduced rates of 15-25% and 5-15%