Agreements Nos. 501, 502, and 503 - Various contingency plans for the shortage of paddy rice, yellow corn, and white corn are made available to industrialists.

This agreement (Agreements Nos. 501, 502, and 503) establishes the availability of a contingency to address the shortage of paddy rice, classified under tariff subheading 1006.10.90.00 "--Others," with a volume of up to twenty thousand (20,000) metric tons, from any origin outside the Central American region. The Ministry of Agriculture and Livestock (MAG) will manage this contingency in three phases, notifying relevant institutions at each stage. Individuals or companies interested in participating must submit a detailed application to the MAG within five days of the agreement coming into effect, using electronic means. The allocation of contingents will be carried out by the MAG, and import licenses will be processed before the Ministry of Economy (MINEC). Imports of paddy rice under this contingency will have a preferential tariff of zero percent (0%) within the quota and a tariff of forty percent (40%) outside the quota. The contingency will be valid until December 31, 2020, and its goal is to contribute to keeping prices stable and avoiding increases in the costs of the basic basket. The Consumer Advocacy Office will supervise imports to ensure their commercialization in the domestic market, and the Technical Contingency Committee has the authority to recommend modifications to the conditions as necessary. The agreement comes into effect upon its publication in the Official Gazette.