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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 up for 8th straight month

Despite the continuous arrival of rice imports, prices of the Filipino’s main staple remain in an upward streak for eight months now, the Philippine Statistics Authority reported......»»

Category: newsSource:  philstarRelated NewsAug 22nd, 2018

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:  philstarRelated NewsJun 9th, 2018

Rice prices hit highest level; production target unattainable

Despite the continuous arrival of rice imports, the price of the commodity – the main staple among Filipinos – continues its upswing, hitting its highest level this month, the Philippine Statistics Authority (PSA) said......»»

Category: newsSource:  philstarRelated NewsSep 19th, 2018

Philippines’ August inflation seen speeding up to near 9.5-year high

Philippine annual inflation is expected to have quickened in August to the fastest pace in nearly 9-1/2 years, reflecting higher prices of key food items, including rice, and energy costs, a Reuters poll showed. Ten economists surveyed by Reuters unanimously expect inflation to be faster last month than July’s 5.7 percent, already the highest since […].....»»

Category: newsSource:  interaksyonRelated NewsSep 5th, 2018

PH inflation rises for 8th straight month

INFLATION rose again for the eighth straight month, hitting 6.4 percent for the month of August and is regarded as the fastest rise in nearly 10 years. Inflation last breached the six-percent mark in March 2009, when it reached 6.6 percent, according to Philippine Statistics Authority (PSA) data based on 2012 prices. It also marked […].....»»

Category: newsSource:  tribuneRelated NewsSep 5th, 2018

Customs exceeds collection goal anew due to weaker peso

THE BUREAU of Customs topped its collection target in August due to a weak peso, high oil market prices and enforcement of proper valuation, marking the seventh straight month that goals were exceeded. The post Customs exceeds collection goal anew due to weaker peso appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsSep 4th, 2018

Senator sees stable rice prices, supply this month

BACOLOD City – Prices and supply of domestic rice will stabilize within September 2018, Senator Cynthia Villar said on Friday. Speaking before participants of the 27th Visayas Area Business Conference and Expo at the L’Fisher Hotel, Bacolod City, Villar said September is harvest time of local rice for the first cropping which “will stabilize the […] The post Senator sees stable rice prices, supply this month appeared first on The Daily Guardian......»»

Category: newsSource:  thedailyguardianRelated NewsSep 3rd, 2018

Zamboanga City starts rice procurement to reduce market prices

THE ZAMBOANGA City government has started buying rice for distribution to the market at controlled prices following a shortage since early this month that saw rates go up to as much as P80 per kilo. The post Zamboanga City starts rice procurement to reduce market prices appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsAug 23rd, 2018

Food, fuel costs push up inflation

Higher food, fuel and transport costs pushed inflation nationwide to 5.7 percent last month, the fastest rise in over five years, the government said on Tuesday. Surging inflation reduced a family's purchasing power of P10,000 last year to only P9,430 last month. In Metro Manila, prices of basic goods and services rose further to 6.5 percent, up from 5.8 percent in June and 2.9 percent in July last year. Inflation in July nationwide marked the fifth straight month the rate has breached the central bank's 2-4 percent target for this year and next, leading some analysts to believe policymakers would deliver a rate hike as much as 50 basis points on Thursday. The inflation r...Keep on reading: Food, fuel costs push up inflation.....»»

Category: newsSource:  inquirerRelated NewsAug 8th, 2018

Inflation soars to fresh five-year high in July

Prices of key consumer items rose for a seventh straight month in July, fueling expectations that the Bangko Sentral ng Pilipinas will deliver another rate hike this week......»»

Category: financeSource:  philstarRelated NewsAug 7th, 2018

July inflation seen at 5.6%

Inflation likely surged to 5.6% in July led by higher electricity rates and rice prices plus a new wave of excise taxes on cigarettes, a global bank said, meriting a stronger response from the central bank. Nomura economists said prices of widely-used goods likely hit another high last month, coming from a 5.2% print in […].....»»

Category: financeSource:  bworldonlineRelated NewsAug 2nd, 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