THE National Food Authority (NFA) has awarded contracts for the supply of 250,000 metric tons (MT) of rice mostly to suppliers from Vietnam, with the shipments intended to supplement buffer stocks for the lean season.
THE Department of Agriculture (DA) is looking at a target of 18.5 million metric tons (MT) for unmilled rice this year, which it said was an adequate output level to support moves towards self-sufficiency in the staple grain.
THE Philippines may soon call an auction for the import of an additional 250,000 metric tons (MT) of rice as a precaution against the impact of La Niña in the first few months of 2017.
THE government has laid out a five-year roadmap to expand abaca fiber production to 422,630 metric tons (MT) from current output levels reaching less than 70,000 MT for the country’s abaca supply to be more responsive to growing global demand.
HAMBURG — A group of animal feed makers in the Philippines has purchased 83,475 metric tons (MT) of soymeal to be sourced from the United States and Argentina in a tender that closed on Tuesday, European traders said on Wednesday.
THE PHILIPPINES is looking to import as much as 800,000 metric tons (MT) of rice this year to boost thinning stockpiles and curb local price increases, a senior agriculture official said on Tuesday.
MANILA, Philippines – Cement sales grew six percent in 2013 from a year ago amid strong construction activity, the Cement Manufacturers Association of the Philippines (CeMAP) said. Data from the CeMAP showed total cement sales reached 19.445 million metric tons (MT) last year, up from the 18.356 million MT sold in 2012. For the fourth quarter alone, cement sales went up 2.1 percent to 4.503 million MT compared to the 4.409 million MT in the same period in 2012. CeMAP president Ernesto Ordoñez said in a telephone interview the growth in sales in 2013 was supported by the construction activities undertaken by both the government and private sector last year. For 2014, he said the group expects cement sales to continue to grow. “We see strong growth in 2014 because of continued confidence in government, which should lead to more investments in projects,” he said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 He said the huge budget of the Department of Public Works and Highways (DPWH) for infrastructure spending would likewise support higher cement sales this year. More investments in mass housing, he added, will also drive higher cement sales. Philippine Constructors Association Inc. president Augusto Manalo said earlier the construction sector is seen to post double-digit growth this year from about P380 billion in 2013.
MANILA, Philippines – Lower commodity prices dragged down metal production value 7.89 percent in the first semester of the year, data from the Mines and Geosciences Bureau (MGB) showed. Aggregate metal production value during the first six months of the year fell to P45.91 billion from P49.84 billion in the same period last year. “Dictated by the less upbeat world metal prices, the precious metals gold and silver, and the base metals copper and nickel, all recorded negative movements during the review period,” the MGB said in a report. Nickel production remained the top contributor to the aggregate production value for the period. Nickel direct shipping ore and mixed sulfides accounted for 41 percent of the output value, equivalent to P18.99 billion combined. Gold comprised 34 percent of the production value, contributing P15.60 billion, while copper made up 22 percent of the production, contributing P9.97 billion. The remaining three percent of the production value equivalent to P1.34 billion comprised silver, zinc, chromite and iron production. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Average gold price during the first half fell 7.70 percent to $1,524.52 per troy ounce from $1, 651.69 per troy ounce in the same period last year. “Despite this, demand from India and Greater China (China, Hong Kong and Taiwan) remained strong,” said the MGB. The six-month averages for copper and nickel also fell 7.54 percent and 13.13 percent respectively. Copper prices slipped to $3.39 per pound from $3.66 per pound, while nickel prices fell to Read More …
MANILA, Philippines – The volume of cargo shipped in and out of the Philippines grew 5.3 percent in the first half, mainly driven by the continued expansion of the local economy according to data from the Philippine Ports Authority (PPA). Total cargo volume reached 97.96 million metric tons (MT) from January to June or 4.93 million higher than the 93.03 million MT recorded in the same period last year. Cargo shipped within the Philippines rose 8.2 percent to 40.77 million MT, while cargo shipped in and out of the country climbed 3.34 percent to 57.18 million MT. Private ports handled 58.5 million MT, accounting for 59.7 percent of the total cargo volume, while government-run ports handled 37.5 million MT for a share of 40.3 percent. PPA general manager Juan Sta. Ana attributed the increase in cargo volume to the expansion of the country’s domestic output as measured by the gross domestic product (GDP) by 7.6 percent in the first semester, from 6.4 percent in the same period a year ago. For the second quarter alone, the country’s GDP grew 7.5 percent from 6.3 percent in the same period last year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Sta. Ana also traced the improvement to the increase in cargo volume handled in 16 port management offices (PMOs). The port of Tagbilaran booked the highest growth of 49.7 percent followed by Legazpi with 46.3 percent due to the increase in domestic shipment of aggregates, heavy equipment and construction materials and Read More …
MANILA, Philippines – The Department of Trade and Industry (DTI) is studying a recommendation from the Tariff Commission to extend the safeguard measure imposed on imported testliner boards which expired in June. “It (Tariff Commission’s recommendation) is under evaluation,” Trade Secretary Gregory Domingo said in a text message. He declined to say however when the department would decide on the matter. As the DTI has yet to issue a decision, the tariff on imported testliner boards will remain at its current level of P1,211.15 per metric ton (MT). Testliner boards, which are usually made of recycled paper, are used to produce corrugated boxes for the packaging of consumer products. The Tariff Commission has recommended the extension of the safeguard duty on testliner boards, which expired on June 14, for another three years citing that it is necessary to give the local industry time to implement its adjustment plan and prepare for competition from imports. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 For the first year of implementation, the Tariff Commission is proposing a safeguard duty of P1,150.60 per MT, which represents a five percent reduction in the current safeguard duty of P1,211.15 per MT, following the DTI’s formula. The recommendation was made after the conduct of public hearings for the petition filed by the Philippine Paper Manufacturers Association, Inc. in November last year. The Tariff Commission noted that the local testliner board industry needs to prepare as it faces threat from imports, with tariff rates in various free Read More …