Trade Philippine pivot does not impact on Vietnamese rice export By Trung Chanh Sunday, May 24, 2020,18:44 (GMT+7) Philippine pivot does not impact on Vietnamese rice exportBy Trung Chanh It takes 10 days to ship Vietnamese rice to the Philippine market – PHOTO: LE HOANG VU After a year letting the private sector import rice on a “tax-based mechanism” instead of a quota-based mechanism in line with the G2G (Government to Government) regime, the Philippine side is considering a comeback to the previous regime (G2G) to import 300,000 tons of rice. Would this possible change strongly affect Vietnam’s rice exporters? Prior to 2019, the Philippines had preferred the quota regime in importing rice. As a result, aside from allocating annual quotas of about 850,000 tons to the Philippine private sector, the country’s National Food Authority (NFA) maintained domestic supply-demand balance to open bidding for rice purchases from other countries, principally Vietnam and Thailand. However, as of February 15, 2019, Philippine President Rodrigo Duterte signed into effect the Republic Act No. 11203 on “Liberalizing the Importation, Exportation and Trading of Rice, Lifting for the Purpose the Quantitative Import Restriction on Rice, and for Other Purposes.” This act has turned Philippine rice import from a quota-based … Read full this story
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