A measure imposing tariffs on rice imports in place of a quota system has been signed into law by President Duterte.
Presidential spokesperson Salvador Panel confirmed that the President signed the rice tariffication bill, which was expected to ensure stable supply and prices in the country.
Under the measure, a 35 percent duty will be imposed on rice imports from the Association of Southeast Asian Nations while a 50 percent tariff will be charged on imports from non-ASEAN countries.
The law also seeks to establish the Rice Competitiveness Enhancement Fund to help farmers boost their production.
The measure, certified as urgent by the President, was transmitted to his office last month and was set to lapse in law yesterday if it was neither signed or vetoed.
The signing of the law comes a few days after the President met with stakeholders of the rice industry who asked him to veto some provisions of the bill. Some groups were reportedly worried that lifting the import quota of rice would adversely affect the livelihood of farmers if there would be uninhibited rice importation.
But Malacanang said Duterte was inclined to sign into law the rice tariffication bill since he was considering the interest of the greater good.
Senate President Vicente C. Sotto III had earlier said Duterte has signed the proposed rice tariffication bill.
Sen. Koko Pimentel, a close ally of the President, also confirmed the development. (Genalyn Kabiling and Vanne Elaine Terrazola)