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Since neither Russia nor Ukraine is a major trading partner of the Philippines, the country will not be as directly impacted as other parts of the world but to reduce the impact of secondary effects on energy and food prices, the Economic Development Cluster (EDC) of the Cabinet recommends taking the following measures.
In regards to pork:
- Expand supply and reduce prices of pork by extending the lower tariff of 15% in quota and 25% out quota with minimum access volume (MAV) of 200,000 metric tons (MT) until December 2022;
- Accelerate release of imported pork from cold storage;
- Remove all non-tariff barriers for pork
Regarding raw materials:
- Expand supply and reduce price of rice by extending the Most Favoured Nation (MFN) 35% tariff rate until December 2022;
- Increase supply and reduce price of corn by lowering the MFN tariff to 5% in quota and 15% out quota with MAV of 4 million MT until December 2022;
- Import more feed wheat and produce more cassava (as feeds substitute);
- Expand sources of wheat (e.g., India)
March 8, 2022/ Philippine News Agency/ Philippines/
https://www.pna.gov.ph
