The Philippines announces 6,100 new covid infections on May 20

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  • 菲律賓國旗

  With India, the Philippines strikes the greatest special agreement for 295,000 MT of rice

  According to PH gets 295,000 MT of rice in best ‘special’ deal with India | Global News (inquirer.net), amid its export restrictions, the Indian government has approved the delivery of more than one million metric tons of nonbasmati white rice to seven nations, with the Philippines receiving the largest amount.One million and three million metric tons of rice would be transported to Nepal, Cameroon, Cote d'Ivoire, Republic of Guinea, Malaysia, the Philippines, and Seychelles, according to a notice released by India's Ministry of Commerce and Industry on October 18.India's National Cooperative Exports Ltd. will serve as the government-to-government (G2G) intermediary for all exports.Raul Montemayor, national manager of the Federation of Free Farmers, stated that the Philippines' ability to obtain rice from India is not assured by this most recent event.It is dependent upon the cost first. Second, and above all, the caliber. Despite far cheaper pricing, our local importers had previously been unable to get rice from India, most likely because of worries about supply stability and quality, according to Montemayor.Additionally, given that the whole yearly demand for rice imports is around 2.5 to 3 million MT, he added that the volume supplied by India is not particularly noteworthy, providing it is completely utilized.The Philippines exported the most rice of the seven countries, with 295,000 MT, or 28.5 percent of the total. Cameroon came in second with 190,000 MT.In an effort to stabilize its supply and slow price increases, India put a restriction on the export of nonbasmati white rice in July of this year. The World Trade Organization questioned this decision because of its potential effects on the world food market.However, based on the most recent official data, Vietnam continues to be the Philippines' largest exporter of rice.The most recent figure from the Bureau of Plant Industry (BPI) shows that as of September 6, the nation was importing 2.68 million MT of rice. Vietnam supplied 2.4 million MT, or 89.75 percent, of the total. 13,579.39 MT of imported rice were exported by India, representing a pitiful 0.5 percent share.Leocadio Sebastian, the undersecretary of agriculture, according to PH gets 295,000 MT of rice in best ‘special’ deal with India | Global News (inquirer.net), had stated that, contrary to the US Department of Agriculture's forecast of 3.5 million MT, the nation may import 3.1 million MT of rice this year.Additionally, according to PH gets 295,000 MT of rice in best ‘special’ deal with India | Global News (inquirer.net), Bureau of Plant Industry director Gerald Glenn Panganiban promised the nation a steady supply of rice throughout the final three months of the year since 1.9 million MT of rice are anticipated to be harvested in that time, which equates to a 74-day buffer tank.

  2023-10-20 03:00
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  • 菲律賓國旗

  Department of Education withdraws proposal for a P150 million secret fund

  According to DepEd drops P150-M confidential fund request (inquirer.net), the Department of Education's (DepEd) P150 million secret cash request for its 2024 budget has formally been withdrawn by Vice President and Education Secretary Sara Duterte.The statement was made on November 9 during discussions on the proposed national budget for the upcoming year by budget sponsor Senator Pia Cayetano.Duterte is respectfully asking, according to Cayetano, "that the funds be realigned to the National Learning Recovery Program instead."According to DepEd drops P150-M confidential fund request (inquirer.net), Duterte's equally contentious request for a P500 million secret allocation for next year was abandoned earlier by the Office of the Vice President.

  2023-11-12 03:00
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  • 菲律賓國旗

  In Q3, the Philippines' agricultural output drops more gradually

  According to Philippines' agricultural output shrinks at slower pace in Q3 | The Star, During the July-September period, the Philippines' farm and fisheries annual production by value decreased for the second consecutive quarter as agricultural and fisheries output decreased. However, the rate of loss moderated, lessening the impact of the rural sector on growth.According to data released by the Philippine Statistics Authority (PSA) on November 8, livestock and poultry output increased 2.5% and 2.9% in the third quarter, respectively, offsetting the 0.4% and 6.1% decline in crop and fisheries production.Almost half of the product produced by the agriculture industry is made up of crops. According to Philippines' agricultural output shrinks at slower pace in Q3 | The Star, the agriculture sector contributes less than 10 percent of the total production of the domestic economy.During the September quarter, according to Philippines' agricultural output shrinks at slower pace in Q3 | The Star, the nation's paddy rice crop increased by 0.2% over the previous year, which was less than the 1.1% growth of the previous quarter.The government was closely observing the possible effects of El Nino on food prices, according to President Ferdinand Marcos Jr., who previous recently resigned from his position as secretary of agriculture and gave the position to an executive from a local corporation.According to Philippines' agricultural output shrinks at slower pace in Q3 | The Star, the consumer price index for the Philippines, which includes food as half of its total price, increased 4.9% in October after rising 6.1% in September, but this was insufficient to allay concerns about inflation held by the central bank.As the risk to its inflation projection through 2025 was heavily skewed to the upside, the central bank warned late on November 7 that it was ready to take further policy action if required to fix inflation expectations.Concerned that inflation would get out of control, it provided an off-cycle boost of 25 basis points last month. With an average inflation rate of 6.4% so far this year, it is still much higher than the comfortable range of 2% to 4%.The 3rd quarter annual economic growth figures, which are scheduled for release on Thursday, would be available by the time the central bank convenes on November 16. Second-quarter growth of 4.3% would be surpassed in the third quarter, according to Finance Secretary Benjamin Diokno.Additionally, according to Philippines' agricultural output shrinks at slower pace in Q3 | The Star, the statistics office said on November 8 that the nation's jobless rate increased slightly from 4.4% to 4.5% in September.

  2023-11-09 03:00