After Lowering Import Duties to 35%, India plans to export rice to the Philippines
As per the latest notification, the Philippines has lowered its import duty on rice coming from India from 50% to 35%, thus the Southeast Asian country's rice exporters are preparing to send the grain there starting next month. The second-largest importer of the commodity worldwide is the Philippines. The Philippines have fired the first salvo against Thailand and Vietnam's plans to set up a rice cartel by declining the import duty on Indian cereal from 50 percent to 35 percent. Let’s explore the notification in detail. Philippines Import Duty Reduced to 35% According to the Philippines Import Export Data , the Philippines' import tax on rice from India has recently been reduced from 50% to 35%, therefore the nation's rice exporters are getting ready to start shipping the grain there as of next month. The Philippines is the second-largest importer of the item globally. The Philippines have launched the opening salvo against Thailand, and Vietnam aims to create a cartel