Palay farmgate rice falls 0.41% in late Feb.
THE FARMGATE price of palay, or unmilled rice, fell 0.41% week-on-week to P19.63 per kilogram (kg) in the fourth week of February, the Philippine Statistics Authority (PSA) said.
Malaysia says palm oil curbs by EU lack scientific proof, breach WTO rules
BRUSSELS -- A European Union proposal to limit the use of palm oil lacks comprehensive scientific evidence and breaches global trade rules, Malaysia’s marketing agency for the edible oil said on Friday.
Argentina’s soymeal plants battered by trade war and taxes
ROSARIO, ARGENTINA/CHICAGO -- In the grains hub of Rosario on the banks of Argentina’s Parana River, the local soy crushing factories are feeling the chill of a trade war between the United States and China.
Rice farmers seek assurances of funding under new law
DAVAO CITY -- The Department of Agriculture (DA) will ensure that the rice industry will become more competitive as the Rice Tariffication Law comes into force.
China pork producers surge as swine disease cuts down on supply
BEIJING -- Shares in China’s leading pig producers have soared to record levels despite one of the worst disease outbreaks in years, as investors bet on tightening pork supplies and strong government support for leading producers.
Rice farm equipment faces delays due to budget, procurement issues
MECHANIZATION of rice farms in the country will begin next year as the Philippine Center for Postharvest Development and Mechanization (PHilMech) can only begin procurement once it receives its budget, an official said.
Russia helping Venezuela with wheat supplies
MOSCOW -- Russian Foreign Minister Sergei Lavrov said on Friday that Moscow was helping Venezuela with supplies of wheat, hours before a Reuters reporter saw a Venezuela-bound cargo ship carrying Russian wheat transit the Bosphorus.
Brazil March soy exports seen down on US competition, farmer hoarding
SAO PAULO -- Brazil’s soybean exports are expected to fall in March due to US competition, farmer hoarding of beans due to low prices and forecasts for lower output in the world’s top exporter of the oilseeds, according to market participants and shipping data.
Farmers stage protests after prices of turmeric crash in India
NEW DELHI -- A bumper harvest has led to a crash in turmeric prices in India, the world’s biggest producer and exporter of the bright yellow spice, causing furious farmers to stage protests in key growing regions demanding government help, growers and traders said.
Bureaucracy seen delaying benefits to rice farmers
THE NEWLY-SIGNED Republic Act (RA) No. 11203 or Rice Tariffication law is expected to reduce poverty by bringing down rice prices, but the bureaucratic process may delay the farmer relief measures attached to the law, academics said.
DA backs raising biodiesel coconut content, protection from palm oil imports
THE Department of Agriculture (DA) will resubmit its recommendations for the coconut industry which include the increase of coconut content in biodiesel as well as the imposition of quantitative restrictions on palm olein from Malaysia and Indonesia, Secretary Emmanuel F. Piñol said on Sunday.
Potential Effects of RA 11203 (Philippine Rice Tariffication)
AFTER 24 YEARS since the Philippines was granted approval in 1995 by the World Trade Organization (WTO) to impose quantitative restriction (QR) on rice importation into the country, the government finally eliminated the quota system on rice importation through the passage of RA 11203. The law, which was recently signed, will be implemented on March 5, 2019. One of the key features of RA 11203 is the replacement of the rice importation quota system with tariffs. In the new law, the following tariffs apply: