Federation of Free Farmers (FFF) National Manager Raul Montemayor is questioning the basis for the DA’s petition, given that DA Secretary William Dar had repeatedly said the country will have enough local rice production following a record harvest in 2020 despite the series of typhoons and calamities.
(MB file, Keith Bacongco)
“This sudden proposal of the DA is totally unjustified. It is a stab in the back of our rice farmers, who are still reeling from the drastic fall in farmgate prices caused by excessive imports in the last two years following the enactment of the Rice Tariffication Law. Why encourage more and cheaper imports now when local supply is more than enough, and prices are very stable?” Montemayor further said.
Digitalization, EAGA trade named Davao business chamber s top priorities
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February 1, 2021 | 12:01 am Font Size
YIELD TRACKER
YIELDS on government securities (GS) ended mixed last week after the country’s economic output contracted at a record low.
Debt yields, which move opposite to prices, rose 0.1 basis point (bp) on average week on week, based on the PHP Bloomberg Valuation Service Reference Rates as of Jan. 29 published on the Philippine Dealing System’s website.
UnionBank of the Philippines, Inc. Economic Research said in a text message that major data releases, in particular the gross domestic product (GDP) report, led to market players trimming their positions.
Robinsons Bank Corp. peso sovereign debt trader Kevin S. Palma, meanwhile, noted there was “very strong” two-way interest as the market digested various developments last week.
4:42 PM MYT MANILA, Jan 30 (Xinhua):The Philippine central bank has said that more foreign capital left the country in 2020 due to the uncertainties brought about by the Covid-19 pandemic, local media have reported.
The Bangko Sentral ng Pilipinas (BSP) said that foreign portfolio investments (FPIs) for 2020 yielded net outflows of US$4.2 billions.
The BSP said the net outflows are in the Philippine Stock Exchange (PSE)-listed shares (3.3 billion U.S. dollars), peso government securities (GS) (US$931 million), and other portfolio instruments (US$22 million).
The Philippine economy shrank by 9.5 per cent in 2020 because of the prolonged impact of the pandemic. National Statistician Dennis Mapa said the 2020 economic growth was the worst since the Philippine Statistics Authority started collecting annual data in 1946.
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