News Snapshot:
Imported rice tariff collections rose 14% to P8.35 billion in the first five months of 2022 The increase came from a 37% jump in imported rice volume to 1.43 million metric tons The increased volume kept BOC’s rice import duty collections on track despite a steady drop rice prices on the world market Rice import duties collected by the Bureau of Customs (BOC) rose 14% to P8.35 billion in the first five months of 2022 from P7.32 billion during the same period last year as the country increased its rice imports by more than a third. The duties came from...
