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​Philippine central bank backs removal of rice import quota

( November 2, 2016, 04:15 GMT | Insight) -- The Philippine central bank is supporting the move to lift the country’s import quota on rice in favor of tariffs, the Philippine Daily Inquirer reports.The Philippine central bank is supporting the move to lift the country’s import quota on rice in favor of tariffs, the Philippine Daily Inquirer reports. The quantitative restriction on rice is scheduled to end in July 2017, and state-run think tank Philippine Institute of Development Studies is recommending the government replace it with a 35-percent tariff. The Department of Finance also expressed support for the move, but the Department of Agriculture is seeking to extend the restriction for two more years. ...

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