Special duties fund seen growing fasterMANILA, Philippines — The earmarked fund for the development of local industries affected by imports is likely to increase as the government imposes additional duties on new products, Agriculture Secretary Francisco Tiu Laurel Jr. said. Tiu Laurel told The STAR that he decided to impose special safeguard duties (SSG) on four new agricultural products because the trigger prices have been breached. “The trigger prices of these (products) under the (World Trade Organization) agreements have been triggered. We will use the collected duties for the competitiveness enhancement measures fund (CEMF) to help the local industry affected,” Tiu Laurel said. Chicken MDM is a vital raw ingredient used by meat processors to manufacture items like meat loaf and hotdogs.

Source: Philippine Star October 15, 2024 04:01 UTC