DA sees P10 billion additional revenues from higher pork tariffs

The Department of Agriculture expects more than P10 billion in additional revenues from higher pork tariffs, funds which it said could be used to support the country’s animal sector.

MANILA, Philippines — The Department of Agriculture (DA) expects more than P10 billion in additional revenues from higher pork tariffs, funds which it said could be used to support the country’s animal sector. During a Tariff Commission (TC) hearing yesterday, the DA said an increase in pork tariffs could allow the government to collect more revenues to fund the Animal Competitiveness Enhancement Fund (AnCEF), which is intended to improve the country’s livestock, poultry and dairy industry. DA Macro-Economic Policy Division assistant chief Katrin Mares said government revenues could expand by more than P10 billion if pork tariffs are raised. The DA has proposed an incremental tariff increase on imported pork meat due to declining farmgate prices. An initial 10 percent hike would be implemented on the current in-quota rate of 15 percent and the out-quota rate of 25 percent, resulting in tariff levels at 25 percent and 25 percent, respectively. Tariffs will then be raised to 30 ...