Agriculture Reference
In-Depth Information
TABLE 7.7
Estimated annual implicit tariff protection on rice production, 1995-99
1999
a
Rice price/cost
Unit
1995
1996
1997
1998
Average
Average exchange rates (pesos to US$)
b
Php per US$
25.71
26.22
29.47
40.89
38.95
32.25
World price
c
US$ per ton
290.00
271.50
267.00
274.00
238.20
268.14
Freight, insurance (Bangkok to Manila)
d
US$ per ton
3.88
3.63
3.57
3.67
40.28
11.01
Cost of insurance freight
US$ per ton
293.88
275.13
270.57
277.67
278.48
279.15
Cost of insurance freight
Php per ton
7,555.72
7,214.03
7,973.83
11,353.85
10,846.80
8,988.85
Plus Manila port handling
e
Php per ton
0.00
0.00
0.00
0.00
145.21
29.04
Landed cost
Php per ton
7,555.72
7,214.03
7,973.83
11,353.85
10,992.01
9,017.89
Plus transportation to first warehouse
f
Php per ton
129.80
129.80
129.80
207.68
233.00
166.02
Storage cost
f
Php per ton
264.00
264.00
400.00
163.70
152.23
248.79
Handling cost
f
Php per ton
48.40
48.40
44.00
44.00
40.00
44.96
In situ warehouse cost
Php per ton
7,997.92
7,656.23
8,547.63
11,769.23
11,417.24
9,477.65
In situ warehouse cost
Php per kilogram
8.00
7.66
8.55
11.77
11.42
9.48
Average Metro Manila wholesale price
g
Php per kilogram
13.93
16.07
15.31
15.68
16.26
15.45
Implicit tariff
percent
74.17
109.89
79.11
33.23
42.42
67.76
a
Cost data for 1999 are taken from the survey of private sectors.
b
Based on Reference Exchange Rate Bulletin, Treasury, BSP (1999 data are based on average exchange rate from January to November).
c
Based on
FAO Food Outlook
(April 1999 Issue)
Market News
(WTO), Thai rice 35% broken, WR, milled, indicative survey price.
d
Based on 1999 percentage of freight and insurance to world price = 0.1691016.
e
Based on 1999 percentage of Manila port handling cost to landed cost = 0.0133875.
f
Storage and handling costs are based on NFA estimates.
g
BAS (1999) data are based on average wholesale price from January to November.
