On the sidelines of the

On the sidelines of the Smart Agriculture Forum prepared by means of the European Chamber of Commerce of the Philippines, Pernia referred to that higher rice imports is useful to purchasers, as it might be supplied in decrease prices compared to locally-produced rice.

“As I’ve stated, it’s truly better for clients due to the fact imported rice is less expensive than the rice we produce regionally, that’s extra high priced,” Pernia stated.

Pernia’s view become echoed through Rajiv Biswas, Asia-Pacific chief economist at IHS Markit, who said with the June 2017 expiration of the waiver granted the Philippines in 2014 that prolonged QR, transferring to a tariff-based machine under the terms of the usa’s agreement with the World Trade Organization “can also help to encourage advanced efficiency and better satisfactory in domestic rice manufacturing.”