The Bureau of Customs (BOC) has foregone some P3.6 billion in revenues as of December 10 under the reduced tariff system for swine meat imports, data showed.
The measure was implemented starting in the second quarter of the year to boost the supply of pork and stabilize its retail prices in the domestic market.
According to data shared by finance secretary Carlos Dominguez, from April 9 to December 10 this year, the dutiable value of swine meat importation reached P19.35 billion.
The revenue loss for the period due to the implementation of executive orders (EOs) 128 and 134 on pork importation amounted to P3.68 billion.
President Duterte had issued the series of EOs that took effect starting April 7 to lower pork import tariffs and increase the allowable import volumes of the meat to help stabilize the domestic supply and prices of this food staple for the benefit of Filipino consumers.
Asked if he was satisfied with the implementation of these EOs, Dominguez said: “Not entirely, as I understand these were regulations imposed by the Department of Agriculture/National Meat Inspection Service limiting the access of imported pork to certain markets.”
EO No. 128, which lowered pork import tariffs to five percent within its minimum access volume (MAV) and 15 percent outside MAV for the first three months, was in effect from April 7 to May 14.
EO 134, which superseded EO 128, set tariffs on pork imports under the MAV to 10 percent for the first three months, and 15 percent in the next nine months.
For imports outside the MAV, the tariffs are 20 percent for the first three months and 25 percent in the succeeding nine months.
The one-year effectivity of EO 134 began on May 15, 2021.
Dominguez said t the DOF is amenable to the possibility of extending the validity of EO 133 to December 2022.
EO 133 increased the MAV for pork imports in 2021 from 54,210 metric tons (MT) to 254,210 MT, provided that any unavailable balance at the end of 2021 shall not be carried over to 2022.
In an economic bulletin yesterday, the DOF said the high month-on-month inflation for meat and fish reminds authorities to adopt more liberal import measures to meet the peak demand during the holiday season.
Meat prices rose month-on-month by 2.41 percent as pork supply continues to fall below demand levels while fish rose by 2.06 percent as the closed fishing season starts. – Angela Celis
