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The Bureau of Customs collected P18.9 billion in duties from rice imports in 2021 from P15.5 billion in 2020
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In addition, the agency took in P3.75 billion in revenue from pork imports between April 9, 2021 and January 28, 2022
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BOC estimates P4 billion in forgone revenues from pork imports owing to tariff cuts on swine meat shipments and higher temporary allowable import volumes
The Bureau of Customs (BOC) collected a total of P18.9 billion in duties from rice imports in 2021 and P3.75 billion in revenue from imported pork as of January 2022, according to the Department of Finance (DOF).
Duties from rice imports in 2021 were 22% higher than the P15.5 billion collected in 2020, DOF said citing data from a report by Customs Commissioner Rey Leonardo Guerrero.
Duties from rice imports beginning March 5, 2019 go to the annual P10-billion Rice Competitiveness Enhancement Fund (RCEF) as provided under Republic Act No. 11203 or the Rice Tariffication Law. The law has led to a shifting of the country from quantitative restrictions to tariffs, resulting in a surge in importation of the staple.
The RCEF is used to finance programs that will sharpen the competitiveness of rice growers by providing them easy access to fertilizer, farm machinery and equipment, high-yield seeds and cheap credit; and offering skills training programs on farm mechanization and modern farming techniques.
For pork imports, BOC took in P3.75 billion in revenue between April 9, 2021 and January 28, 2022 from a total volume of 242 million kilograms.
BOC estimates P4 billion in forgone revenues during this period as a result of executive orders issued last year cutting tariffs on swine meat shipments and temporarily increasing the allowable import volumes to address the African Swine Fever’s impact on pork meat supply and price in the Philippines.
