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NFA buys farmers’ harvests at higher prices
Farmers from different regions are enjoying better profits for their yields this harvest season. It is because the National Food Authority is now buying their rice harvest at much better and higher prices. Buying at farm gate prices of P16 to P19 per kilogram for fresh palay and P19 to P23 for dry palay, the Department of Agriculture's Rice Industry Development on Sunday said that farmers around the country are happy with the increase in the buying price of NFA which was ordered by President Ferdinand Marcos, concurrent Agriculture Secretary, on Monday last week, to ensure that farmers, who are currently harvesting their wet season crop, would not suffer from abruptly declining prices for their fresh harvest beginning this month. The DA-RID head, Undersecretary Leo Sebastian, said the new higher prices of NFA are the traders' benchmark in setting their buying prices from farmers for the fresh palay. With the mandated price hike for NFA such drastic price declines would not materialize. Sebastian said most areas of Central Luzon and portions of Mindanao and the Visayas are now harvesting their palay, although many farms have suffered significant losses from the continuous downpour and torrential winds of July and August. For those who have harvested early, they were able to sell their fresh palay for as high as P24 per kilo. One such farmer is Feliciano Jaojao of Punta, Dipolog City, an officer of the Dipolog Polanco Irrigators Association, who planted early and sold his fresh palay harvest to IA in early September for P24/kg. He said only 25 percent of their irrigation association members, who till over 1,000 hectares of irrigated areas and 1,000 hectares of rainfed areas, have harvested their palay with the peak expected by the end of September. In his three-hectare farm, he was able to reap 200 bags (of 60 kilos) per hectare from hybrid or about 12 tons while his inbred farm produced 70 to 100 bags per hectare. Another farmer, Gabriel Cale of Surigao Sur, 64, also harvested early and sold his fresh palay at P23 per kg farmgate. “Wala pang price cap sa bigas noon,” he stressed. “Now the price of 160 (brand of palay seed) is selling for P20 a kilo and this premium rice is being sold in the market for P50 per kilo. The current farmgate price is P18 to P19 for inbred and P18/kg for hybrid,” he reported. Both farmers, however, appealed to the NFA to reduce its required moisture content for selling dry palay to it and to buy more aggressively fresh palay to ensure that farmers would enjoy fair prices for their produce. They also suggested that NFA simplify the processing of payments and to pay in cash (not checks) so that they would not keep going back and forth to the NFA warehouses. NFA Acting Assistant Region 11 Manager Floreena Lorainaon the other hand told the farmers attending the 16th National Rice Technology Forum in Digos, Davao del Sur, that the guidelines to implement the new NFA buying prices would be issued next week. She explained that with the Rice Tariffication Law, the NFA is only allowed to buy palay and rice to build the country's buffer stocks for up to 15 days only for emergency purposes like relief for calamity victims. “We also have only three trucks so we can’t service all the farmers. We already pay in cash for up to 200 bags of 50 kilograms,” she said. They agreed that the imposition last September 5 of the price cap for regular milled rice at P41 per kg for regular milled and P45 for well-milled coincidentally led to less imported rice being sold in their markets, which is good for local farmers. Along with thousands of farmers all over the country, they participated in the National Rice Technology Forum held in Hagonoy, Davao del Sur, which showcased different hybrid and inbred rice technologies along with various soil nutrients, including biofertilizers and organic fertilizers. They visited 18 different demo farms of at least one hectare which showcased the different yield potentials and other benefits of such technologies. The post NFA buys farmers’ harvests at higher prices appeared first on Daily Tribune......»»
AboitizPower buys back shares amid PSE slump
Aboitiz Power Corp., or AboitizPower, purchased 11.407 million of its shares as part of its buy-back program as of the 19 September closing. The company said the move was needed to “create further shareholder value” as its current share price range fails to reflect the value of the company. As the shares are undervalued due to the poor state of the market, the buyback is expected to inspire investors to look at the real value of the shares. “Even with this stock buy-back program, there is no intention to delist from the PSE, but merely to reward our existing shareholders with a larger share of a brighter future,” the company said. The Philippine Stock Exchange or PSE, however, announced AboitizPower, the listed investment arm of the Aboitiz Group for energy-related ventures, will be dropped from the index of bellwether shares by next week. In a memorandum dated 20 September, PSE president Ramon Monzon confirmed AboitizPower’s removal from the index will be effective starting 26 September. This developed even after AboitizPower committed not to exit the index amid speculations that the company may opt to delist after its public float fell below the required threshold. Based on the new rules governing the PSE, all companies in the local bourse indices are required to maintain a minimum public float level of 20 percent. AboitizPower chief executive officer Emmanuel Rubio also conveyed that the company, which accounts for one out of every five megawatts or MW of installed capacity in the Philippines, is still in a strong position to create long-term shareholder value. “With a pipeline of about 1,000 MW of new renewable energy capacity, we are well on our way to contributing an additional 3,700 MW of clean electricity,” Rubio said. During the first half of the year, the company reported that it logged a P17.8-billion net income, 79 percent higher than the P10 billion recorded in the same period a year ago. During the second quarter alone, the company’s net income reached P10.3 billion, 46 percent higher than last year’s P7 billion. AboitizPower’s generation and retail supply businesses recorded earnings before interest, taxes, depreciation, and amortization or EBITDA of P30.2 billion during the first six months. The EBITDA, used to measure a company’s financial health and ability to generate cash, was 31 percent higher than the P23.1 billion recorded in the same period last year due to “fresh contributions” from GNPower Dinginin. From the start of the year until the end of June, AboitizPower said its capacity sold increased by 25 percent to 4,718 MW from 3,785 MW a year ago. The post AboitizPower buys back shares amid PSE slump appeared first on Daily Tribune......»»
Relishing sweetness of success
A 35-year-old fourth-generation farmer is continuing the legacy of his father in producing delis from bananas, which are now making waves in Europe. Raymund Vincent Aaron, the self-styled ‘Banana Chief’ and the heir of Villa Socorro Farm and its factory that produces sumptuous banana chips headquartered in Pagsanjan, Laguna province, said he inherited his passion for agriculture and farming from his father, incorporating a streak of his own. Right after obtaining a Bachelor of Science in Management from Ateneo de Manila University in 2009, Raymund joined the budding family business. “I wanted to be an entrepreneur for as long as I can remember. We used to grow bananas on our land in Pagsanjan, and so, after graduating, doing business using bananas seemed the perfect fit,” Raymund shared. An indirect start The idea of exporting came through his father’s work in marketing for a multinational company, which inspired him to engage in international business. Starting off in 2008 with an initial capitalization of P5 million, the company produced banana chips, with the first export in 2014 to the United States. The Health Safety Certification from the Food and Drug Administration, a requirement of the Philippine authorities, was obtained in 2012, which further added credibility to the business as an exporter. “We began exporting indirectly through a local company that expressed interest in distributing our products to buyers there.” Targeting Europe According to the Department of Trade and Industry, Aaron, who has been a regular at DTI’s business matching events, recently returned from one such event held in Dubai coinciding with Gulfood 2023. Regular participation in business networking events and seminars since 2015 has provided valuable knowledge and insights on export market access, including the European Union. Be it the DTI or the Center for International Trade Expositions and Missions handling the International Food Exhibition Philippines which is the biggest international food trade show in the country, Aaron has always found participation in the trade fairs to be beneficial. “You never knew who you would meet. I always carried samples of my products along,” he said. At one such event arranged by the DTI-Export Marketing Bureau, Aaron established a connection with the Philippine diplomatic mission in Switzerland. Soon, samples from Villa Socorro reached a few Swiss companies with the help of this link. The products were a hit with one distribution company. By the end of 2019, a 20-foot container with 1,000 boxes that cost $14,000 has been shipped to Switzerland. “It was support from the EMB that helped us pursue direct exports to Europe. We made our first link through them.” Recognizing the support he received, Aaron is always willing to share his skills and knowledge with other entrepreneurs and to contribute to local DTI capacity-building initiatives. Why the EU? The EU appears to be a lucrative market for the company as Aaron gradually expands the product range by including sweet potato chips and corn snacks. About 80 percent of total current revenue comes from exports, while 20 percent comes from sales at hotels, restaurants, canteens, airports, kiosks, and selected supermarkets in the Philippines. Villa Socorro’s exports to Europe are at five percent, with buyers in Switzerland, Norway and EU member state the Netherlands. Aaron wants to increase business with Europe, specifically with EU member states, which he regards as the best destinations for healthy organic food products made from tropical fruits. “It is a market that is willing to pay a premium for natural products.” EU buyers’ requirements Aaron’s drive to grow specifically in the EU market is evident in his readiness to comply with the necessary requirements.The Registered Exporter System number to avail of the EU Generalized Scheme of Preferences Plus scheme to export tariff-free to the EU was obtained on the recommendation of the buyers to strengthen the business. The REX is a self-certification system wherein the origin of goods is declared by economic operators themselves by means of so-called statements about the origin. To be entitled to make out a statement of origin, an economic operator must be registered in a database by the competent authorities. The economic operator then becomes a “registered exporter.” Product and packaging development were also adjusted. There is a shift to use a more natural Brown Muscovado Sugar to suit customer preferences in the EU. Aaron’s company also created a sub-brand, Farmony, to market its products in the EU. “Farmony creates harmony between farmers, manufacturers, and consumers. Our existing brand, Villa Socorro Farm Sabanana Banana Chips, really targets Filipinos or people looking for Filipino products. We created Farmony to have a product that can easily blend on the shelves of the EU market,” Aaron said. Social entrepreneur Being on a farm allowed Aaron to become a social entrepreneur. He understands well the needs of the farmer. To support banana farmers around his family plantation, he buys 98 percent of the fruit from the community that he fondly refers to as “partner farmers.” “We buy bananas from more than 200 farmers in a radius of 5km around our farm. We only plant two percent of the bananas that we use for banana chips,” he said. By processing 600,000 tons of bananas every year, Aaron provides the local farmers with a market for their produce. He considers himself lucky that things fell into place, enabling him to give back to the community that helped him get to where he is today. Gearing up for the future” I am still here. I look forward to expanding our business. Sticking with the snacks theme, we’re looking at making use of the abundant farm produce in our region and the rest of the Philippines to create fun and healthy snacks.” Aaron is determined to transform his business into a reliable food company by creating an entire line of banana products and drawing in loyal customers at home and abroad. The ARISE Plus Philippines project is enabling Philippine exporters to take advantage of EU market access and the trade privileges granted under the Generalized System of Preference (GSP+). It supports the overall EU-Philippines trade relationship and trade-related policies. ARISE Plus Philippines is a project of the Government of the Philippines, with the DTI as the lead partner, together with the Department of Agriculture, Food and Drug Administration, Bureau of Customs, the Department of Science and Technology, as well as the private sector. It is funded by the EU with the International Trade Centre as the technical agency for the project. The post Relishing sweetness of success appeared first on Daily Tribune......»»
‘Here Lies Love’ co-producer says hit musical may soon be staged in Manila
After conquering Broadway with an all-Filipino cast, Here Lies Love, the musical created by David Byrne and Fatboy Slim about former First Lady Imelda Marcos, may soon be staged in the Philippines. It’s being talked about,” Don Michael H. Mendoza, a co-producer of the Broadway production, told Daily Tribune in an exclusive interview. He recently flew in from the United States for a vacation and to visit some family and friends. [gallery columns="2" size="large" ids="171941,171942"] “The hope is that the first international production will be in Manila. But they’re also considering Sydney. It’s very early in discussions, but there are plans to bring it abroad. We’ll just have to look for the right place that will house the show because the set is so different. It’s more probably like a studio space than a traditional theater.” Mendoza also confirmed having an all-Filipino cast in the planned touring production, hopefully with the current lineup led by Arielle Jacobs (as Imelda), Jose Llana (as Ferdinand Marcos Sr.), Conrad Ricamora (as Ninoy Aquino) and Lea Salonga (in a special guest role as Ninoy’s mother Aurora). “Of course, it depends on where people are at that point of time,” he pointed out. “If they haven’t moved on to other shows, what their schedules are like. So, hopefully… It would be great to bring the whole cast, but it depends on what they’ll have next.” Show vacancies In case of vacancies, the production may audition performers based in the Philippines, like it did before. This led to the question about Mark Bautista, who played Marcos in both the London and Seattle productions of Here Lies Love after it premiered off-Broadway in 2013 at The Public Theater in New York City. Jose Llana, who currently plays Marcos, originated the role off-Broadway. “We auditioned people from the Philippines,” Mendoza said of their casting process for the Broadway staging. “So I’m sure Mark auditioned. He was in high consideration.” The co-producer explained that Mark’s non-inclusion in the current cast doesn’t mean the Filipino singer-actor “won’t be in that later.” He shared the story of a friend of his who was able to join the cast months after auditioning and doing other shows. “It’s a never-say-never situation.” As for Salonga’s limited stay in the show, Mendoza said the Tony winner has another engagement, but “she might come back later down the road. But for now, she’s on until the 19th (of August).” About the unfortunate invasion of Salonga’s privacy in her own dressing room, “Lea handled it really well. The public opinion is on our side. We worked it out,” said Mendoza, adding that the production has tightened its security as a result of the incident. “Like Lea said, a ticket buys you access to the show, that’s it. Meet-and-greets, that’s because they’re nice, not because it’s in the contract. If they do a stage door greeting, that’s out of the goodness of their heart. They’re not contracted to do that, so they don’t have to entertain you after the show.” Positive reception Mendoza, who’s among the “at least 20” co-producers of Here Lies Love (aside from “five lead producers and three to four associate producers”) expressed joy and excitement when talking about how the Fil-Am community and Broadway theatergoers have received the musical. “It’s good, positive,” he said. “People are really enjoying the show. The lifespan of the show is 1945 to 1986, just after the Edsa Revolution. It is fun. It’s an enjoyable show. They liked that they learned something — even the people who really know the story, they also say that they learned something they didn’t know about Imelda or Ninoy or whoever. So, all positive. “The negative things we received are just about content. People [were] worried about watering down what actually happened, but, like I said in the interview, it’s supposed to be entertaining. It’s not a documentary, you know. If it gets you to think about something, we’ve done our job.” He also recalled the stellar opening night last 20 July, with celebrity attendees like actors Drew Barrymore and Daniel Dae Kim, comedian-TV host Stephen Colbert, filmmaker Spike Lee, singer-songwriter Shoshana Bean, hairstylist Frederic Fekkai and fashion icon Anna Wintour. “There were so many people that I heard were there, but I didn’t see them,” he said. But he didn’t miss seeing his fellow co-producers Jo Koy and H.E.R. at the opening. Mendoza said Here Lies Love has tickets open until January 2024 and its contract with The Broadway Theater, where it’s playing, is “open-ended.” So it can “keep going as long as tickets sales are up.” He then gave a satisfied smile: “So far, so good.” In the future, he said he hopes to produce more shows, including maybe an original Filipino musical or play on Broadway. “I think now that Here Lies Love has happened, it’s more possible. I won’t say it’s easy, I won’t say it’s easier. But I will say the door is now open for the others to follow.” The post ‘Here Lies Love’ co-producer says hit musical may soon be staged in Manila appeared first on Daily Tribune......»»
RFM buys back P350 million shares
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