Philippine government ready to raise ethanol import duty

THE Philippine government looks set to introduce tariffs on ethanol that will help local producers compete in market that has been taken over by Brazilian imports.

According to a document from the Tariff and Related Matters Committee, the government plans to increase the duties on ethanol to 20% from the current 1% "to provide a positive signal to investors in ethanol production that the government is supportive of such initiatives". The move would also earn the government revenue on ethanol imports.