# PHL tariff cuts could pressure global rice supply, prices — BMI - BusinessWorld Online

> Fitch's BMI said the Philippine cut in rice import tariffs from 35% to 15% could boost Vietnamese and Thai export volumes to the Philippines. It argued this would tighten global supply and add upward price pressure, given India's restrictions and the El Niño impact.

- Date: 2024-07-01 · published 2024-07-01T12:00:00.000Z
- Category: policy · region Philippines · magnitude medium
- Page: https://feedsoft.ai/events/29326-phl-tariff-cuts-could-pressure-global-rice-supply-prices-bmi-businessworld
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

Higher Philippine import demand tightens the global rice balance, which is supportive for export prices.

## Read by commodity

- RICE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2023-12-27 | [Global rice prices up 7% in a month on high demand, low supplies - The HinduBusinessLine](https://feedsoft.ai/events/32789-global-rice-prices-up-7-in-a-month-on-high-demand-low-supplies-the.md) | -2.4% | +3.7% |
| RICE | 2026-01-04 | [Proposed RICE Act impact seen dependent on NFA procurement - BusinessWorld Online](https://feedsoft.ai/events/9173-proposed-rice-act-impact-seen-dependent-on-nfa-procurement-businessworld-online.md) | +6.1% | +18.2% |
| RICE | 2024-04-11 | [NFA approves palay buying prices topping out at P30/kg - BusinessWorld Online](https://feedsoft.ai/events/6717-nfa-approves-palay-buying-prices-topping-out-at-p30-kg-businessworld-online.md) | +9.8% | +6.8% |
| RICE | 2018-09-23 | [NFA says rice dealers do not want to sell lower-grade grains - BusinessWorld Online](https://feedsoft.ai/events/63115-nfa-says-rice-dealers-do-not-want-to-sell-lower-grade-grains-businessworld.md) | -1.0% | +11.7% |
| RICE | 2024-02-08 | [India is considering to extend parboiled rice tax in risk to world supply \| The Business Standard](https://feedsoft.ai/events/31610-india-is-considering-to-extend-parboiled-rice-tax-in-risk-to-world-supply-the.md) | +0.7% | -5.7% |

## Sources

- bworldonline.com: https://bworldonline.com/economy/2024/07/01/605495/phl-tariff-cuts-could-pressure-global-rice-supply-prices-bmi/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.