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MANILA: The Department of Agriculture (DA) started releasing National Food Authority (NFA) rice stocks to local governments on Wednesday (Feb 19), two weeks after declaring a food security emergency to temper rising retail prices.
MANILA: The Department of Agriculture (DA) may declare a food security emergency for rice by Tuesday next week, its top official said on Friday (Jan 31).
The Philippines' Department of Agriculture (DA) is considering declaring a “food security emergency” early next year as it scrambles to rein in the prices of rice, a key staple and a major driver of inflation.
Global credit rating agency AM Best is maintaining a stable outlook on the Malaysian non-life insurance industry sector, citing expectations of solid premium growth and the maintenance of underwriting and pricing discipline maintained amid the phased de-tariffication of motor and fire segments.
Despite LPI Capital Bhd’s subdued sentiment from the industry’s de-tariffication in the fire class insurance segment, Kenanga Research says the group has potential to remain a leading player in the market.
MANILA (Philippine Daily Inquirer/Asia News Network): The country ended 2021 with a three-year-high, above-target inflation rate of 4.5 percent, which meant that faster-than-manageable price hikes, especially of food and oil prices, tempered consumer spending at a time it was needed to rev-up economic recovery and address poverty that was aggravated by the prolonged pandemic.
MANILA (Philippine Daily Inquirer/ANN): The Federation of Free Farmers (FFF) views Malacanang’s assurance that rice imports would be banned during harvest time as “deceptive” and “legally untenable.”
MANILA (Philippine Daily Inquirer/Asia News Network): Because of the Rice Tariffication Act’s (RTA) provision that the National Food Authority (NFA) can only source rice from local farmers, the agency already scrapped its proposal to import 330,000 metric tonnes of rice.
PETALING JAYA: The new business premiums (NBPs) for the life and family takaful industry is anticipated to chalk up a higher single-digit growth in the second half of 2022 and 2023 amid the challenging market conditions, says RAM Rating Services Bhd.
The writer says it is necessary to import agricultural products where there is a shortage to prevent cartels and smuggling.
The paper says the progress touted by President Duterte comes at a very high price.
PETALING JAYA: LPI Capital Bhd’s prospects in the near term are looking favourable, despite higher competition in the general insurance landscape.
The writer, Cielito F. Habito, says staying out of the RCEP, and restricting farm trade in general will bring about detriment to the Philippines.
The paper says policymakers should help citizens prepare for the inevitable by giving them a complete picture of winners and losers in the free trade deal.
KUALA LUMPUR: CTOS Digital Bhd through its subsidiary, CTOS IDS Sdn Bhd has launched CTOS Car Insurance, an online platform for car insurance and road tax renewal, in collaboration with PolicyStreet.com.
The rising cost of food and extreme poverty are also to blame for the high rates of hunger and malnourishment in the Philippines.
MANILA (Philippine Daily Inquirer/Asia News Network): Expectations that the Monetary Board will again raise the policy interest rate when it meets on June 23 are firming up as the inflation rate in May accelerated to a 42-month-high of 5.4 per cent.
The beta carotene-enriched rice is touted by the Philippine government as the solution to Vitamin A deficiency among Filipino children.
MANILA (Philippine Daily Inquirer/Asia News Network): Local production of rice last year met 85 per cent of the country’s total requirement, up from the 79.8 per cent self-sufficiency level in 2019 which was the lowest in eight years.
MANILA (Philippine Daily Inquirer/ANN): The disconnect in the country’s agricultural value chain remains evident in the rice industry, as the Philippine Statistics Authority (PSA) reported a continued uptick in rice prices despite an increase in palay production and decline in farmgate prices in the first quarter.
