A rice store in the Kamuning Market, Quezon City. — PHILIPPINE STAR/MICHAEL VARCAS
THE BUREAU of Customs (BoC) has collected a total of P5.9 billion in tariffs from 1.43 million metric tons (MT) of rice imported by private traders following the implementation of the Rice Tariffication Law in March, the Department of Finance (DoF) said Thursday.
According to the DoF, the Port of Manila generated the highest tariff collections from the rice shipments at P978.51 million, followed by the Manila International Container Port at P942.76 million, then the Port of Cagayan de Oro at P754.13 million.
The Port of Davao, meanwhile, collected P703.93 million, based on preliminary data from the BoC.
The Rice Tariffication Law removed quantitative restrictions on rice imports while imposing tariffs to fund the Rice Competitiveness…