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Rice prices up for 6th straight month

Rice prices have been increasing since the start of the year following the lack of supply of cheaper rice from state-run National Food Authority......»»

Category: newsSource: philstar philstarJun 9th, 2018

Rice prices seen stabilizing in Aug

The National Food Authority (NFA) expects rice prices to start stabilizing only later next month as distribution efforts have not yet been able to help pull down prices. NFA spokesperson Rebecca Ol.....»»

Category: newsSource:  philippinetimesRelated NewsJul 9th, 2018

Extra rice, anyone?

The prices of rice increased for the 24th straight week on the third week of June, with the average for the well-milled variety pegged at P41.46 per kilogram, according to data released by the Philippine Statistics Authority (PSA). That average is 0.22 percent higher than prices seen on the second week of June and 6.86 […].....»»

Category: newsSource:  tribuneRelated NewsJul 5th, 2018

BSP: Cheaper fuel to temper June inflation

The inflation rate in June may have risen at a faster pace than the previous month's record high of at least five years due to continued increases in the prices of basic commodities, especially rice, central bank economists said.   In a statement, the Bangko Sentral ng Pilipinas' department of economic research said it was expecting the country's inflation rate to rise to as high 5.1 percent this month, but may also come in as low as 4.3 percent, based on the 2012 price base.   The unit---whose output guides the BSP's Monetary Board in setting interest rate policy---said price hikes in basic goods were mitigated by reductions in prices in other sectors.   ...Keep on reading: BSP: Cheaper fuel to temper June inflation.....»»

Category: newsSource:  inquirerRelated NewsJun 29th, 2018

Inflation seen breaching 5% in June

Inflation may hit five percent this month amid upward price pressures from rice and other agricultural commodities due to weather-related disruptions as well as higher LPG prices, according to the Bangko Sentral ng Pilipinas......»»

Category: financeSource:  philstarRelated NewsJun 29th, 2018

Cheaper fuel to temper June inflation, says BSP

      The Philippines' inflation rate in June may have risen at a faster pace than the previous month's record high of at least five years due to continued increases in the prices of basic commodities, especially rice, central bank economists said on Friday.   In a statement, the Bangko Sentral ng Pilipinas' Department of Economic Research said it expects the country's inflation rate to rise to as high as 5.1 percent this month, but may also come in as low as 4.3 percent, based on the 2012 price base.   The unit --- whose output guides the central bank's Monetary Board in setting interest rate policy --- said price hikes in basic goods were m...Keep on reading: Cheaper fuel to temper June inflation, says BSP.....»»

Category: newsSource:  inquirerRelated NewsJun 29th, 2018

Rody OKs rice imports to augment NFA buffer

By Ted Tuvera and Angie M. Rosales President Duterte has allowed the National Food Authority (NFA) to import 250,000 metric tons of rice amid reports of a shortage in government stock of the staple grain.Inter-agency NFA Council chairman Cabinet Secretary Leoncio Evasco said Mr. Duterte has allowed the importation aside from an expected shipment of 325,000 MT of rice in February.“We have no option but to follow the President to activate the 250,000 MT on standby that will be on top of the 325,000 MT that will arrive anytime this month,” Evasco said.It turns out, however, that Presidential spokesman Harry Roque missed the President’s instruction to Evasco.Talking to reporters at Palace briefing, Roque said there is no need to import rice yet. “The point is, there’s already rice on its way, no need to authorize the standby order of 250,000 MT because there’s more than enough rice on its way to beef up the NFA stock,” Roque said. Claiming that there is no rice shortage, NFA administrator Jason Aquino said he plans to import rice to replenish the buffer stock.Notably, Evasco and Aquino had been at odds with each other on what mode of rice importation should be done.Evasco cited elements inside the NFA that manipulate importation processes to make money from it.Roque said that Evasco has nonetheless the trust of Mr. Duterte.“If he [Evasco] sees that there are rumblings because somebody wants to make money, so be it, but I’m happy that Secretary Evasco is on top of the situation,” Roque said. “He enjoys full trust and confidence of the President, that’s why until now the President has not commented on this issue because he trusts that Secretary Evasco will do what is best,” he added.Binay: ‘Get your acts together’Sen. Nancy Binay, however, urged agriculture officials to get their acts together on the reported shortage in rice supply of the NFA.Binay took note of the conflicting claims of NFA and Department of Agriculture (DA) officials on the status of NFA rice supply in the market.“My call is for them to hopefully talk. They should stop talking behind the back or blaming each other. It’s high time that they talk and settle the forecasting on the country’s rice stock,” she said.“I hope that DA (Department of Agriculture) Secretary (Manny) Piñol, the NFA Council, and the NFA leadership would sit down and discuss this matter. They should give priority to the need of the nation more than the internal issues among the different agencies,” Binay said.NFA spokesman Rebecca Olarte, last week, said that NFA-accredited rice retailers will not be able to sell NFA rice for the time being and confirmed that it has decided to temporarily discontinue issuing NFA rice to accredited retailers due to low supply.Piñol and Evasco belied the rice shortage, insisting that there is no shortfall on the rice supply in the country and they even said that there are enough stocks for consumption for the next 96 days.“My only concern is that we do not need to reach the stage when the poor can’t buy NFA rice. I guess it is a wakeup call for everybody,” said Binay.The senator herself attested the apparent lack in supply of NFA rice as she tried to purchase some for distribution as relief goods and was told that the price increased from P1,400 to P1,600 per sack.Binay supported the move taken by Sen. Cynthia Villar in conducting an investigation on whether there’s “artificial” rice supply shortage to effect an increase in the price of NFA rice in the market.Meanwhile, the government is expecting palay or paddy rice harvest of 3 million metric tons in the first quarter, which will augment the 2.8 million metric ton surplus from 2017, Agriculture Secretary Emanuel Piñol told DZMM.Piñol said there was no shortage in subsidized rice sold by the NFA, adding raising prices due to an alleged lack in supply amounted to “daylight robbery. Jason Faustino.....»»

Category: newsSource:  tribuneRelated NewsJun 7th, 2018

Factory activity best in five months

PHILIPPINE manufacturing activity saw “solid improvement” in May, picking up for the third straight month on growing demand despite “intensified” cost pressures passed on to customers via higher prices, according to the latest monthly tracking IHS Market conducted for Nikkei, Inc. The post Factory activity best in five months appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsJun 1st, 2018

May inflation seen hitting a record 5.4%

Inflation could have accelerated to as high as 5.4 percent last month, the Bangko Sentral ng Pilipinas (BSP) said on Thursday, with tensions in the Middle East having pushed fuel prices up and supply constraints also boosting the cost of rice. “The BSP Department of Economic Research projects the 2012-based May 2018 inflation to settle [...] The post May inflation seen hitting a record 5.4% appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsMay 31st, 2018

Inflation could have topped 5% in May

INFLATION likely picked up further last month as oil and rice prices kept rising, the Bangko Sentral ng Pilipinas (BSP) said on Thursday. The post Inflation could have topped 5% in May appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 31st, 2018

Oil firms announce fuel price hike

Oil companies will be raising the prices of petroleum products this week, the third straight week that they will be doing so after a slight decrease during the first week of the month. Gasoline prices will increase by P0.65 per liter, while diesel and kerosene will rise by P0.35 and P0.45 per liter, respectively. The […] The post Oil firms announce fuel price hike appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 28th, 2018

Gov’t seeks arrival in May of 250,000 MT rice imports

THE PHILIPPINES said on Thursday that the 250,000 metric tons (MT) of rice it had planned to import should arrive in May, a month earlier than previously announced, to ensure there is ample government stocks ahead of the country’s lean harvest season. The Philippines, a frequent rice importer, saw domestic prices of the staple grain […] The post Gov’t seeks arrival in May of 250,000 MT rice imports appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 22nd, 2018

Agri dep’t to establish more outlets to sell rice direct from farmers

THE Department of Agriculture (DA) said it will set up more stations offering rice direct from farmers this month, beginning in Quezon City, in order to reassure the public amid fears of rising prices for the commodity. Agriculture Secretary Emmanuel F. Piñol told reporters during the launch of the Rolling TienDA — an outlet for […] The post Agri dep’t to establish more outlets to sell rice direct from farmers appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 6th, 2018

Palay prices rise at start of 2018

MANILA, Philippines — Farmgate prices of paddy rice started on a high note this year, posting a seven percent jump in the first week of the month, the Philip.....»»

Category: financeSource:  philstarRelated NewsJan 20th, 2018

BSP sees December inflation at 2.9-3.6%

By Melissa Luz T. Lopez, Senior Reporter INFLATION likely steadied in December from a month ago despite higher fuel and rice prices, the Bangko Sentral ng Pilipinas (BSP) said on Friday, enough to keep the full-year pace well within expectations. Price increases for basic goods and services may have logged between 2.9-3.6% this month, based […] The post BSP sees December inflation at 2.9-3.6% appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsDec 29th, 2017

Food prices drag Nov. inflation lower

By Lourdes O. Pilar Researcher with Elijah Joseph C. Tubayan Reporter LOWER food prices caused inflation to ease in November after four straight months of picking up, the government said yesterday. The Philippine Statistics Authority (PSA) said headline inflation slowed to 3.3% last month from October’s 3.5%, but was still faster than the 2.5% clocked […] The post Food prices drag Nov. inflation lower appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsDec 6th, 2017

December could see even faster inflation

THE GENERAL rise in prices of widely used goods could have picked up by its fastest pace in two years this month, the central bank said on Friday, citing higher prices of oil products, rice and electricity, as well as the peso’s continued weakness .....»»

Category: newsSource:  bworldonlineRelated NewsDec 23rd, 2016

Nov. could have seen softer price hikes

THE YEAR-ON-YEAR RISE in commodity prices could have eased in November from the previous month as lower rice and utility costs offset the impact of a weaker peso that made imported goods more expensive, the central bank chief said yesterday......»»

Category: newsSource:  bworldonlineRelated NewsNov 28th, 2016

Front Page: Nov. could have seen softer price hikes

THE YEAR-ON-YEAR RISE in commodity prices could have eased in November from the previous month as lower rice and utility costs offset the impact of a weaker peso that made imported goods more expensive, the central bank chief said yesterday......»»

Category: financeSource:  bworldonlineRelated NewsNov 28th, 2016

Construction retail prices rise for 8th straight month in Oct

MANILA, Philippines – Retail prices of construction materials in Metro Manila rose for the eighth straight month in October, the Philippine Statistics Author.....»»

Category: financeSource:  philstarRelated NewsNov 22nd, 2016

Ghost month spooks stock prices

MANILA, Philippines – For the second straight day, the market ended in negative territory yesterday, the official start of the ghost month......»»

Category: financeSource:  philstarRelated NewsAug 3rd, 2016