The issue on Sugar, Rice and other Import Products

The Bureau of Customs has stepped up inspection of sugar warehouses amid the shortage of the commodity which some sectors allege is a consequence of smuggling.

The inspections are part of the government's campaign to bring down the price of sugar, and looking back, we have some similar issues on rice, gasoline, and medical paraphernalia arising from the COVID-19 pandemic. 

So what causes the soaring costs of imported products?

The strict reinforcement of protocols needs to be met by a competent logistics company, from its booking and documentation, coordination of shipping schedules, payment of taxes and other arrangements to ensure the timely delivery of shipments. The processes involved can contribute to the retail price of a product so therefore, if you have a dependable logistics provider, you can reduce cost and set a very competitive pricing in the market.

Why Use a Customs Broker?

If you're an importer or exporter, not only that you need to deal with port operations, counter parts in foreign countries,  you also need to deal with Philippine Customs. This will require you to work with a dependable, and reliable customs brokerage company that can help you do the painstaking task of working with the nitty gritty of import and/or export processing such as:.

• Helping you navigate complex Customs Rules and Laws - You may not know all the rules and regulations of the country you want to import from and the clearance process may differ depending on your port of entry. You are also legally responsible for all of the declarations (a statement showing goods imported and their value) you make. If they're not accurate you can be subject to fines and audits.

• Making savings for you by avoiding unnecessary Costs, and Delays. Working with various stakeholders in the process of exporting or importing, come with a hefty costs especially if processes or procedures are not made within required time. Fines, delays in delivery, or potential confiscation of goods that may have been caused by mismanagement, or lack of technical know-how, are some of the unwanted consequences that an importer or business owner may suffer.

• Computing customs duties and taxes.

When importing, it is important for importers and business owners to make a vital decision, either to import or source locally in the Philippines. A dependable, reliable, and legitimate Customs Brokerage Firm will help you run your cost analysis smoothly by computing near accurate Customs Duties and Taxes based on your cargoes’ information such as classification, value, weight, among others.

• Helping you avoid importation of goods that are not allowed by Philippine Laws. With only buying cheap in mind, many importers, especially those who are new in this field, find themselves in difficult and costly situations when importing unprepared. They tend to import goods that are not allowed by Philippine Laws, only to find it too late as the BOC may have already issued a Warrant of Seizure and Detention (WSD). A dependable, reliable, and legitimate Customs Brokerage Firm will prepare an importation plan for you so that you will come ready and prepared when dealing with the Bureau of Customs and other regulating agencies.

• Facilitating the processing of requirements and documents with other, but equally important stakeholders such as Shipping Companies, Port Operators, or Trucking Companies.

Equally important in the process of import or export are stakeholders particularly, Shipping Companies, Port Operators, Trucking Companies, or in some cases, other Regulatory Bodies. A dependable, and reliable Customs Brokerage Firm will process or facilitate other requirements that are required by these stakeholders in order to run a smooth clearing process, that is timely and free from unexpected impediments.

Ernest Logistics Corporation has been a key-player in the logistics industry for over a decade, and customs brokerage with respect to import or export is one of its most sought-after, popular or in-demand services because of the significant benefits it gives to its importer clients.The rise of e-commerce provided more opportunities to entrepreneurs and importation is critical in their business for them to remain competitive by availing more affordable materials at a faster time of delivery.

To know more about the services, feel free to click CONTACT US or Register in the tabs provided on the website.

Sources:

https://www.portcalls.com/boc-steps-up-sugar-warehouse-inspections/

https://www.philstar.com/business/2022/08/22/2204159/divergent-sugar-prices