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Quimbo's bill to zero out rice import tariffs in emergency cases

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RG Cruz, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Vendors put up a P45 sign at a box of well-milled rice at the Mega Q-Mart in Quezon City on September 3, 2023, in compliance with the implementation of a price ceiling for regular and well-milled rice in the country. Maria Tan, ABS-CBN News/File" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/tvpatrol/09/10/20230905-rice-price-celing-mega-qmart-mt24.jpg"/><figcaption>Vendors put up a P45 sign at a box of well-milled rice at the Mega Q-Mart in Quezon City on September 3, 2023, in compliance with the implementation of a price ceiling for regular and well-milled rice in the country. <em>Maria Tan, ABS-CBN News/File</em></figcaption></figure></div><p>MANILA — Marikina Rep. Stella Quimbo&#x27;s proposal to give the President the power to declare a national rice emergency includes authority to lower rice import tariffs to zero, a move that she said would help keep prices in the domestic market down.</p><p>Quimbo, author of House Bill 9030, said that factors like India&#x27;s decision to ban exports and ensure domestic stocks and bad weather and the threat posed by El Niño have contributed to tight global supply and pushed rice prices up.</p><p>&quot;[S]o in a situation na mataas ang presyo sa world market ang puwedeng No. 1 na gawin is puwedeng ipagpaliban muna ang pag-kolekta ng rice tariffs na sa ngayon — I believe pino-propose na rin naman ng Secretary of Finance,&quot; Quimbo told reporters Monday.</p><p>The Rice Tariffication Act, passed in 2019, authorizes the President to adjust the import duty on rice but only when Congress is not in session. <br/>Under House Bill 9030, the President may declare a national rice emergency in case an extreme shortage of rice, or in case of sustained or extraordinary price increase. </p><p>&quot;I-zero na muna, especially now that we have already met our rice tariff targets,&quot; Quimbo said, referring to the P10 billion that is expected to be collected each year. </p><div><strong>LIMITED IMPORT AUTHORITY FOR NFA</strong></div><p>Quimbo&#x27;s bill also seeks to empower the National Food Authority to import rice again on a limited basis to allow it counter the effects of hoarding.</p><p>She said that she has received reports that some importers have cancelled orders from Vietnam because of the price cap on regular milled and well-milled rice that took effect on September 5.</p><p>&quot;Nakikita nila na baka hindi nila mabenta at a price na kikita sila, so ang mangyayari is &#x27;di sila makakabawi. So, ang mangyayari is nag-cancel sila ng mga orders nila. So, ang tingin ko ay dapat ma-consider na natin na pansamantala payagan na natin ang NFA na mag-import muna.&quot;</p><p>She said that while the NFA has the mandate to maintain a buffer stock of rice, local production might not be enough for that. She added that, under her proposal, importation will be subject to approval of the President and that modern technology like livestreaming can help make the process of importing rice more transparent.</p><p>&quot;Matagal rin &#x27;yon. Sa tingin ko, with the new technology, puwede natin baguhin ang sistema diyan. Lets allow NFA temproarily to import rice,&quot; Quimbo said.</p><div><strong>ENFORCEMENT VS HOARDING</strong></div><p>While Quimbo concedes that the ongoing price cap on rice can only have limited impact before it becomes a problem, it sends a strong signal that hoarding will not be tolerated.</p><p>&quot;It&#x27;s a commitment to enforcement against the hoarders. I think that&#x27;s very, very important. Itong pagtaas ng penalties &#x27;yon eh. Pag tinataasan mo yung penalties, it&#x27;s a strong commitment on [enforcement against cartels],&quot; Quimbo said.</p><p>Quimbo&#x27;s bill imposes stiffer penalties for hoarding.</p><p>&quot;Sa ngayon, under the Price Act, hanggang P1 million lang maximum penalty against hoarders. Masyadong mababa &#x27;yan, so tinaasan ko up to P100 million,&quot; she said.</p><p>&quot;Kulong is tinaasan ko siya to 30 years.&quot;</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/09/11/23/economic-managers-back-rice-price-ceiling-diokno">Economic managers back rice price ceiling: Diokno</a></li>	<li><a href="https://news.abs-cbn.com/video/business/09/11/23/lifting-of-rice-price-cap-to-be-decided-within-2-weeks-dti">Lifting of rice price cap to be decided &#x27;within 2 weeks&#x27;: DTI</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/2uE2BnOCXvk?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

'I-zero na muna, especially now that we have already met our rice tariff targets,' Marikina Rep. Stella Quimbo said.

Quimbo's bill to zero out rice import tariffs in emergency cases

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Quimbo's bill to zero out rice import tariffs in emergency cases

RG Cruz,

ABS-CBN News

Published Sep 11, 2023 05:53 PM PHT

Read More:

House of Representatives

Stella Quimbo

House Bill 9030

rice tariff

hoarding

rice import tariffs

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