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The Philippines considering a reduction in pork tariff rates
Ag officials in the Philippines are considering several options to help boost the country’s pork supply and stabilize prices as African swine fever continues to pressure the nation’s pork supply.
USMEF Economist Erin Borror says that includes reducing pork tariff rates. “Currently, the Philippines has the highest tariffs of any major import market,” she says. “Thirty percent tariff on imports of pork cuts and that’s within a 54,000-ton quota. Anything over that, pays a tariff of 40 percent.”
She says consumption of pork in the Philippines has dropped, and the US was the only major pork supplier to post an increase in pork exports to the country last year. “The situation continues to intensify with ASF still spreading, disincentivizing producers to rebuild even though hog prices are quite high. The Philippines typically has been about 88 percent self-sufficient.”
Members of the agriculture committee are meeting to find a solution, which Borror says could come in the form of lower tariff rates, a larger quota, or a combination of the two. They hope to have an update early this month.
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