PH Eyes Imposing Tariffs on Palm Oil Imports

The Philippine government is considering the imposition of tariffs on imported palm oil, as it takes measures to deal with the flooding of this product in the country, Agriculture Secretary Manny Piñol said Thursday.

“For the next 200 days, we could impose tariffs on these items so that we will be able to protect our local farmers and the local industry from further injury. Because right now, (these products are) tariff-free,” he told reporters.

Piñol said he has asked the country’s trade negotiators to draft an order slapping tariffs on imported palm oil, which he would immediately sign to address the flooding of palm oil in the country.

“And according to our WTO (World Trade Organization) negotiators, the Philippines could invoke a claim of injury on the industry,” he added.

The agriculture chief cited statistics indicating the huge increase in the volume of imported palm oil from both Malaysia and Indonesia.

From only 20 million kg. in 2016, Piñol said Malaysian palm oil arriving in the country breached about 200 million kg., while Indonesia exported about 120 million kg. in 2017.

“(Their entry is) legal but it could be dumping of agricultural products into the Philippines and it’s an issue of concern for us,” he added. (PNA)