Authors: FHBordey, CCLaunio, JCBeltran, ACLitonjua, RGManalili, ABMataia and PFMoyaPolicy Briefers
The Philippine rice industry will soon bear the brunt of global competition. In 2017, the government may no longer be able to control the volume of rice to be imported. Cheap imported rice will compete in the local market as long as it is subject to 35% tariff. As a result, local wholesale price will mirror the wholesale import parity price Ã¢â‚¬â€œ which is the equivalent price of imported rice after adding the costs of insurance and freight from the exporting to importing country, port charges, the tariff/tax, and local transport from port to wholesale market.