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The Philippine Senate sent a unified bill to the President that relaxes rice import restrictions, replacing quantitative limits with tariffs. The law will lapse automatically if not signed within 30 days, and it creates a P10 billion annual Rice Competitiveness Enhancement Fund.
Rice prices are expected to fall by up to P7 per kilo within the year.
Opening Philippine rice imports to free trade under tariffs increases import demand from exporters such as Vietnam and Thailand, supporting Asian export prices while lowering domestic Philippine prices.
philstar.comRey GamboaJan 21, 2019After 168 past bullish policy events, Rough Rice moved a median +0.8% over 5 sessions (57% higher; middle half -1.7% to +2.1%), and -0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
