11203 Flashcards
An Act Liberalizing the Importation, Exportation and Trading of Rice, Lifting for the Purpose the Quantitative Import Restriction on Rice, and For Other Purposes
11203
It is the policy of the State to ensure food security and to make the country’s agricultural sector viable, efficient and globally competitive.
11203
adopts the use of ____ to protect local producers of agricultural products.
tariffs m lieu of non-tariff import restrictions
refers to tariff rate commitments under the ASEAN Trade m Goods Agreement (ATIGA) applicable to importations originating from Association of Southeast Asian Nations (ASEAN) member States
ATIGA Rate
refers to the agreed maximum tariffs on products committed by the Philippines to the World Trade Organization (WTO) under the Uruguay Round Final Act, and under the ATIGA, in accordance with its tariff schedule
Bound rate
refers to the optimal level of rice inventory that shall be maintained at any given time to be used for emergency situations and to sustain the disaster relief programs of the government during natural or man-made calamities
Buffer Stock
refers to the tariff rates for minimum access volumes committed by the Philippines to the WTO under the Uruguay Round Final Act:
In-Quota Tariff Rate
refers to the higher rate of customs duty that is levied on the quantities of an imported agricultural product in excess of its minimum access volume
Out-Quota Tariff Rate
refers to the volume of a specific agricultural product that is allowed to be imported with a lower tariff as committed by the Philippines to the WTO under the Uruguay Round Final Act
Minimum Access Volume
refers to Philippine tariff rates that are applicable to imports from all sources
Most Favoured Nation (MFN) Rate
refers to a tax levied on a commodity imported from another country. It earns revenues for the government and regarded as instruments to promote local industries by taxing their competitors.
Tariff
refers to the rate of tariff that provides comparable protection under existing quantitative import restrictions, reflected by the average price gap between domestic prices and world price
Tariff Equivalent
refers to the lifting of all existing quantitative restrictions such as import quotas or prohibitions, imposed on agricultural products, and replacing these restrictions with tariffs
Tariffication
Sanitary and Phytosanitary Import Clearance for Rice for the Sole Purpose of Ensuring Food. Safety. - All importers of rice are required to secure a _____ from the Bureau of Plant Industry (BPI) prior to importation in accordance with existing laws, rules and regulations
Sanitary and Phytosanitary Import Clearance (SPSIC)
The ___ may increase, reduce, revise, or adjust existing rates of importn the event of any imminent or forecasted shortage, or such other situation requiring government intervention, he/she is empowered for a limited period and/or a specified volume, to allow the importation at a lower applied tariff rate to address the situation. He may enter into trade negotiations or renegotiations of the Philippine international trade commitments on rice.
President
The ,____ shall, in accordance with the rules, regulations and procedures to be promulgated, maintain sufficient rice buffer stock to be sourced solely from local farmers
NFA
In order to protect the Philippine rice industry from sudden or extreme price fluctuations, a special safeguard duty on rice shall be imposed in accordance with ___
R.A. No. 8800, otherwise known as the ‘Safeguard Measures Act’
The Rice Fund shall consist of an annual appropriation of ____ following the approval of this Act and shall be automatically credited to a Special Account in the General Fund of the National Treasury
Ten billion pesos (₱10,000,000,000.00) for the next six (6) years
The Rice Fund shall consist of an annual appropriation of ____ following the approval of this Act and shall be automatically credited to a Special Account in the General Fund of the National Treasury
Ten billion pesos (₱10,000,000,000.00) for the next six (6) years
At the end of the sixth (6th) year, a mandatory review shall be conducted by the _____ to determine whether the Rice Fund and its use as provided for under this Act shall be continued, amended, or terminated. It shall utilize the increase or decrease in farmers’ incomes as a primary benchmark in determining the effectiveness of the interventions under the program and its possible extension
Congressional Oversight Committee on Agricultural and Fisheries Modernization (COCAFM)
The ____ shall be accountable and responsible for the Rice Fund in coordination with other government agencies concerned.1âwphi1
Secretary of Agriculture
____ of the Rice Fund shall be released to and implemented by the Philippine Center for Postharvest Development and Mechanization (PHilMech) as grant in kind to eligible farmers associations, registered rice cooperatives and local government units (LGUs), in the form of rice farm equipment.
Fifty percent (50%)
____ of the Rice Fund shall be made available for the extension services
Ten percent (10%)
___ to TESDA, ____ each to ATI, PhilRice and PHilMech.
seventy percent (70%), ten percent (10%)
____ of the Rice Fund shall be made available in the form of credit facility with minimal interest rate-s and with minimum collateral requirements to rice farmers and cooperatives, to be managed equally by the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP)
Ten percent (10%)
____ of the Rice Fund shall be made available in the form of credit facility with minimal interest rate-s and with minimum collateral requirements to rice farmers and cooperatives, to be managed equally by the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP)
Ten percent (10%)
___ of the Rice Fund shall be released to and implemented by the Philippine Rice Research Institute (PhilRice) and shall be used for the development, propagation and promotion of inbred rice seeds
Thirty percent (30%)
Date
February 14,2019
