• The government lost P7.2 billion in tariff revenue last year due to the Bureau of Customs’ (BOC) undervaluation of rice imports, a group alleged on Wednesday, noting that the amount could have been used to extend aid to farmers.
• The Federation of Free Farmers (FFF) said the declared costs for imported rice averaged P24.12 per kilogram, or 22 percent lower than the BOC’s P30.78 per kilo reference price.
• FFF further pointed out that the BOC could have collected an additional P2.34 per kilo in tariffs “if there was no undervaluation.”

https://business.inquirer.net/443584/farmers-ph-lost-p7-2b-in-2023-due-to-undervalued-rice-imports#ixzz8QRPfYi5P