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Spot market price downtrend expected to continue in May

BW FILE PHOTO

PRICES at the Wholesale Electricity Spot Market (WESM) are expected to continue falling in May due to the ample power supply, the Independent Electricity Market Operator of the Philippines (IEMOP) said.

“Given the trend we are seeing now, we have ample supply, and we see the same level of margin all throughout the month of May. So, we expect the same level of prices that we are experiencing now. Hopefully, even lower,” Isidro E. Cacho, Jr., IEMOP’s head of corporate strategy and communications, said in a virtual briefing on Tuesday.

Mr. Cacho is also hopeful supply will continue to increase in the remainder of the year with the entry of new renewables.

With the upcoming midterm elections, Mr. Cacho said stable spot prices will extend even beyond the polls.

“After the election season, we could still see ample supply generally stable prices,” he said.

For April, the average WESM price system-wide declined 15.3% month on month to P4.52 per kilowatt-hour (kWh) as the supply margin widened.

Available supply improved 8.8% to 21,345 megawatts (MW) while demand grew 7.8% to 14,739 MW.

Manila Electric Co. (Meralco), the country’s largest private distribution company, is expecting a potential reduction in the generation and transmission charges for the May electricity billing cycle.

“Initial data shows WESM prices trended lower in the April supply month as power plants that went on outage started to resume operations, boosting capacity in the market,” Meralco Spokesperson Joe R. Zaldarriaga said.

Moreover, Mr. Zaldarriaga said that transmission charges are likely to decline due to lower reserve market prices as well as the completion of the three-month collection of deferred payments to power generators.

In April, the power distributor raised electricity rates by P0.7226 per kWh to P13.0127 per kWh, due to the higher generation charge. — Sheldeen Joy Talavera

April rice stocks rise 45.3% month on month

PHILSTAR FILE PHOTO

THE national rice inventory rose 45.3% month on month to 2.34 million metric tons (MMT) as of April 1, the Philippine Statistics Authority (PSA) reported.

Year on year, inventory rose 26.2%.

As of April 1, 50.2% of the rice inventory was held by households, 35.1% by the commercial sector, and 14.8% by the National Food Authority (NFA).

Month on month, rice stocks held by the commercial sector, households, and NFA rose 55.5%, 49.8%, and 15.5%, respectively, the PSA said.

Stocks held by NFA warehouses rose 733.6% year on year, it added.

The NFA has been touting its increased reserves, which hit 10.1 million bags of palay and 1.2 million bags of milled rice in late April.

The volumes were the highest since 2020 and sufficient to cover 10 days’ consumption.

The government has stepped up efforts to lower prices of the food staple ahead of the midterm elections.

On May 1, a P20-per-kilo rice program subsidized by both the local and national governments rolled out in Cebu.

The Department of Agriculture has since suspended the pilot program to comply with the May 2-12 ban on the distribution of government aid during election season.

The PSA last week reported that at the national level, regular milled rice averaged P44.44 per kilo at retail during the April 15-17 monitoring period.

This was lower than its average retail price on April 1-5 of P44.92 per kilo and P46.02 on March 15-17.

Meanwhile, the PSA said in a separate report that palay production rose 0.3% year on year to 4.70 MMT in the three months to March.

Central Luzon accounted for 17.2% or 808.60 thousand MT of total palay production during the period. This was followed by the Cagayan Valley with 640.43 thousand MT (13.6%) and the Western Visayas with 549.51 thousand MT (11.7%).

The three regions accounted for 42.5% of national palay production during the quarter.

The palay harvest area in the three months to March fell 2.3% year on year to 1.15 million hectares. — Kyle Aristophere T. Atienza

PHL wholesale price growth picks up

PRICE GROWTH in wholesale goods accelerated to a 15-month high in March, the Philippine Statistics Authority (PSA) said in a report.

Citing preliminary data, the PSA said the general wholesale price index (GWPI) rose 3.6% year on year, against 2.5% a year earlier and 2.9% in February.

The March reading was the strongest in 15 months, or since the 4.3% registered in December 2023.

In the first quarter, the GWPI averaged 3.1%, against the year-earlier 3%.

The PSA said the uptrend was driven by the index of chemicals, including animal and vegetable oils and fats, which accelerated to 12.4% in March from 10.1% in February.

Also accelerating were sub-indices for crude materials, inedible except fuels (77.9% from 60.6%), beverages and tobacco (3.4% from 2.9%), food (2.9% from 2.3%), and manufactured goods classified chiefly by materials (1.3% from 0.9%).

Miscellaneous manufactured material prices did not change year on year in March.

Meanwhile, the PSA noted slower growth in prices of machinery transport and equipment at 1.3% from 1.6% in February, and mineral fuels, lubricants, and related materials, which declined 1.9% after a 0.3% dip in the previous month.

GWPI growth was mixed by major island group.

Luzon’s wholesale price growth accelerated to 3.9% from the 3.2% logged in February. The national average was 3.6%, the strongest reading in 15 months since the 4.2% posted in December 2023.

Wholesale price growth in the Visayas slowed to 0.8% from 1% a month earlier, the weakest reading since the 0.4% growth rate in September 2021.

Meanwhile, Mindanao GWPI picked up by 0.8%, against the 0.7% in February, the strongest reading since the 1.1% posted in December. 

For the rest of the year, Reinielle Matt M. Erece, economist at Oikonomia Advisory and Research, expects the GWPI to continue on this track as “rate cuts are expected, which may increase demand for goods and even business expansion.”

The low inflation rates seen in the first quarter, which averaged 2.2%, were well below the 3.2% forecast by the Bangko Sentral ng Pilipinas for the period. — Matthew Miguel L. Castillo

Trump tariff impact on PHL seen mainly in weakening of investor confidence

US PRESIDENT Donald Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, DC, April 2, 2025. — REUTERS

THE TRUMP tariffs will impact the Philippines mainly via the weakening of investor confidence as potential investors weigh a retreat behind US tariff walls, S&P Global Ratings said.

“(The Philippines) has one of the lower initial reciprocal tariff rates of 17%, and does not have a very large bilateral trade surplus with the US, as a substantial portion of its exports is in services. Nevertheless, growth is still likely to be affected, and we have penciled in a decline of 0.3 percentage points compared to the pre-tariff forecast for this year,” S&P Global Ratings Asia Sovereign & International Public Finance Ratings Director Rain Yin said at a webinar on Tuesday.

“We see weaker confidence, weaker investment, and the weaker environment in the region affecting the economy more broadly,” S&P Global Ratings Asia-Pacific Senior Economist Vishrut Rana added.

S&P Global expects the Philippine economy to expand 6% this year, at the lower end of the government’s 6-8% target and accelerating from the revised 5.7% forecast for 2024.

However, Ms. Yin said the outlook remains positive driven because of the Philippines’ “strong growth trajectory, narrowing current account deficits and fiscal consolidation,” adding that its credit ratings could be raised within the next two years.

“However, if downside risks are very significant and derail our expectations on those constructive trends, then the outlook can possibly go unstable,” she noted.

“Therefore, the key question for us is really about when domestic consumption and investments recover. This will likely determine how much fiscal support the government will roll out and for how long they decide to roll out this fiscal support. If we expect the domestic recovery to be slow, then the need for stimulative fiscal policies in the next few years will increasingly weigh on the sovereign ratings.”

The Philippines is one of three countries in the region with a positive outlook as this group is deemed least affected by the tariffs, the others being Mongolia and India.

“Nevertheless, the situation does carry a lot of downside risk. And the conditions that make it conducive for us to take a positive outlook might not materialize if downside risks intensify. So if we do not believe that the rating upgrade is likely within the next one or two years, then we’ll be looking very carefully whether the positive outlooks continue to make sense,” Ms. Yin said. — Aaron Michael C. Sy

US chip firms being pitched on expanding PHL footprint

REUTERS

THE Department of Trade and Industry (DTI) said it is in talks with US semiconductor multinationals to expand their presence in the Philippines.

“We spoke with Texas Instruments on how they can really grow their business in the Philippines,” Trade Secretary Ma. Cristina A. Roque told reporters on the sidelines of an event on Tuesday.

Ms. Roque said she also met with executives from the US Semiconductor Industry Association (SIA) to pitch them on operating in the Philippines.

“Semiconductors are the number one export of the Philippines to the US. Every time we talk to them, it is about expansion… what they need, and what to focus on to keep them in the country,” she said. 

The DTI also discussed trade issues and other industry concerns with SIA, Ms. Roque said, adding that her department continues to pursue plans to play a role in the chip value chain.

Last week, Ms. Roque visited the US for tariff negotiations, and took part in a business forum organized by the US Chamber of Commerce, the US-ASEAN Business Council and SIA. 

Electronics were the top commodity export of the Philippines last year, accounting for 53.4% of total exports.

In 2024, the Philippines exported $39.1 billion worth of electronic products, down 6.7%. — Ashley Erika O. Jose

NU, UST dispute the last finals ticket in UAAP men’s volleyball

UST GOLDEN SPIKERS — UAAP/NEO GARCIA

Game on Wednesday
(Smart Araneta Coliseum)
2 p.m. — UST vs NU
(men’s Final Four knockout)

IT’S win or go home for four-peat National University (NU) and University of Santo Tomas (UST) as they dispute the last finals ticket in the UAAP Season 87 men’s volleyball knockout on Wednesday at the Smart Araneta Coliseum.

Game time is at 2 p.m. with the UST Golden Spikers looking to complete an improbable feat of eliminating the NU Bulldogs after a stunning Game 1 win to neutralize a twice-to-win disadvantage.

A win by Santo Tomas would deny NU a five-peat with an early semifinals exit and arrange a best-of-three finale showdown against No. 1 seed Far Eastern University, which drubbed de La Salle University in one attempt, 24-26, 25-23, 25-19, 25-20.

“We just lived to fight another day,” said coach Odjie Mamon, looking to seal the deal amid an expected strong retaliation from the four-peat champion.

Momentum it is for the UST Golden Spikers, led by reigning MVP Josh Ybañez and Gboy de Vega, after scoring a 26-24, 27-25, 19-25, 25-18 win in the series opener to force a winner-take-all Game 2.

That proved as a stark contrast in their last four meetings all won by the NU Bulldogs, including a sweep in the Season 86 finals to clinch their fourth straight title.

Expect the NU Bulldogs, under the tutelage of Dante Alinsurin, to fight back with all their might to protect their dynasty with Leo Aringo, Leo Ordiales, Peng Taguibolos and Jade Disquitado leading the way. — John Bryan Ulanday

Road Warriors brace for tough Gin Kings clash

Games on Wednesday
(Ninoy Aquino Stadium)
5 p.m. — Blackwater vs Rain or Shine
7:30 p.m. — Ginebra vs NLEX

CAN streaking NLEX continue its smooth ride in the PBA Philippine Cup?

That’s certainly the objective of the NLEX Road Warriors — winner of their last three games after dropping their conference debut against San Miguel — especially with a trio of heavyweights up on their plate in the next nine days.

First up is Barangay Ginebra (2-1), which puts them to a tough test tonight at the Ninoy Aquino Stadium. The 7:30 p.m. duel with the back-to-back-seeking Gin Kings ushers in a tough stretch that will see coach Jong Uichico’s troops waging battles with unbeaten leader Magnolia (5-0) on May 11 and defending champion Meralco (2-3) on May 16.

For Robert Bolick, a key part of NLEX’ success so far are the improved ball movement and player activity off the ball in a new approach they’re all fully buying in.

The Gin Kings are still trying to get their footing coming off a draining seven-game series against TNT in the Commissioner’s Cup finals.

“It’s been a tough conference for us so far, just having less preparation time (between conferences),” said Ginebra coach Tim Cone.

“We wanted to give the guys a mental and physical break when they came back from the finals and extend that as much as we could without walking in and playing. So we did everything to try to get ready. It was kind of like in a ‘hurry-up motion’ and so it’s a struggle for us mentally. But we snapped out of it a little bit in our last game (131-106 rout over NorthPort last Wednesday).”

Meanwhile, Rain or Shine (2-2) expects to have back on board Beau Belga (vertigo) and Caelan Tiongson (back spasms) as it shoots for a bounceback at 5 p.m. against Blackwater (1-3).

The Elasto Painters badly missed the two frontliners in their 97-107 defeat to Converge with the FiberXers totally dominating the boards, 62-40, and inside scoring, 56-38, behind Twin Towers Justin Arana (18-17) and Justine Baltazar (13-22).

Notes: The PBA named reigning Philippine Cup kingpin Meralco as the country’s representative to the Basketball Champions League Asia set June 9 to 15. Accordingly, commissioner Willie Marcial said the league will adjust the Bolts’ schedule in the ongoing Philippine Cup to accommodate this international campaign. The All-Filipino eliminations will run until June 15 with the playoffs eyed for a June 18 start. — Olmin Leyba

Farm Fresh revamps coaching staff; Cignal acquires Guino-o, Arce

FARM FRESH is revamping its coaching staff with hopes of changing its fortunes in the 2025 Premier Volleyball League seasons.

After quietly bringing in veteran internationalist Fabio Menta as consultant early this year, the Foxies have recently tapped two more Italians like the former in Alessandro Lodi as coach and Carlo Buzzichelli as in charge of strength and conditioning not just at Farm Fresh but also at sister team ZUS Coffee.

Mr. Lodi replaced Benson Bocboc, who coached the franchise to a 10th-place finish last All-Filipino Conference.

“The arrival of coach Alessandro Lodi as Farm Fresh’s new head coach and coach Carlo Buzzichelli as Strong Group’s new strength and conditioning head marks a new chapter for our teams,” said Farm Fresh manager Kiara Cruz. “With coach Fabio Menta already on board as our volleyball consultant, we’ve seen improvements across all SGA teams — from the pros to the collegiate level.”

“Now, with the additions of coach Alessandro (Lodi) and coach Carlo (Buzzichelli), we’re not just maintaining momentum — we’re becoming stronger,” she added.

Meanwhile, Cignal continued its own revamp as it acquired outside spiker Heather Guino-o and middle blocker Ethan Arce, which came a few days after tapping veteran Tine Tiamzon.

“Team Awesome is thrilled to welcome Heather Guino-o, a reliable scorer and steady presence on the wing, as she’s ready to make a significant impact with the Cignal HD Spikers in the next conference,” said the squad in a statement posted in social media.

“From one red squad to another, Ethan Arce brings strength, grit, and passion to the Cignal HD Spikers as we set our sights even higher for the next conference,” it added. — Joey Villar

Lady Knights beat Lady Stags in straight sets, lead NCAA volleyball

PHILSTAR FILE PHOTO

FOR Colegio de San Juan de Letran to legitimately challenge for the NCAA Season 100 women’s volleyball title, it would need to play with nerves of steel on a consistent basis.

The Letran Lady Knights showed some flashes of it against the San Sebastian College-Recoletos Lady Stags on Tuesday, but it was enough to pull off a 25-21, 25-22, 25-23 victory that kept the former unflappable at the helm at the Filoil EcoOil Arena.

Vanessa Sarie, a rookie prize find from Bicol, was at the heart of it all as she came through with a match-best 17 points as the Letran Lady Knights snared their sixth win in a row and 12th overall against two defeats.

It was also a triumph that kept Letran at No. 1 and on course of making a return trip to the Final Four where they hope to continue to advance to the finals where they get a shot at a first women’s crown since winning it all 27 years ago.

After seizing the second frame to go 2-0 set up, the Letran Lady Knights took a 19-12 edge and looked headed to cruising to another win. — Joey Villar

Primed Fever

Fourteen thousand nine hundred ninety-eight warm bodies kept their backsides in seats even though the match was all but over not even halfway through the first quarter. They were at the Carver-Hawkeye Arena on a pleasant Sunday afternoon to see their beloved Fever, particularly homegrown superstar Caitlin Clark, play. It didn’t matter that the Brazil National Team members were decidedly out of the league of their favorites, as evidenced by the 108-44 final score.

As far as the fans were concerned, the preseason set-to offered them enough of the Fever to tide them over until the start of the 2025 WNBA season on May 16. That they stayed from opening tip to final buzzer — cheering on each of the 14 players newly installed head coach Stephanie White called to action — spoke volumes of their excitement of what is to come. Not that they can be blamed. The red, blue, and gold are stacked; the fortified brain trust and key recruits that include six-time All-Star DeWanna Bonner and former Defensive Player of the Year awardee Natasha Howard feed into their title projections.

To be sure, the Fever will go only as far as Clark, the league’s assists leader as a rookie and a popular bet in sports books for the Most Valuable Player award, can take them. With a year under her belt and now far more knowledgeable about competition in the W, she see a grand opportunity to turn prognosis into practice alongside returning stalwarts Aliyah Boston, Kelsey Mitchell, and Lexie Hull. And if there’s anything she showed in the way she carved up the hapless competition the other day, it’s that she’s more than ready for the task at hand.

There can be no doubting the impact Clark has made to the sport. She certainly has a flair for the dramatic; The other day, for instance, she launched — and made — a trademark three-point shot a good two feet behind the marker the Hawkeyes placed on the floor to celebrate her breaking the all-time scoring record in the NCAA. That said, she did so to claim a two-for-one break near the end of the third quarter. Which is why she fills stadiums; even her eye-popping exploits have underlying reasons.

Whether the Fever can meet their ultimate objective remains to be seen. What’s clear, though, is that they’re primed, and if they fail, they know they need only look in the mirror to see who to blame.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.

Social media, fake news buffet cardinals ahead of conclave

A CHIMNEY is set up on the roof of the Sistine Chapel, ahead of the conclave, at the Vatican, May 2, 2025. — REUTERS

VATICAN CITY — Throughout history, there has been no shortage of outside attempts to influence the outcome of a conclave to elect a new pope, either by European monarchs, Italy’s noble families or even Romans who rioted in the streets to stand by their man.

Today’s influencers use social media, television and newspaper interviews, news conferences, open letters, and even puffs of pink smoke.

The campaigns to sway the outcome of a highly uncertain conclave started in earnest minutes after the announcement of Pope Francis’ death on Easter Monday and must end by Wednesday afternoon when the cardinal electors will be cut off from the outside world until they choose a successor.

Two episodes, in particular, have stood out as deliberate attempts to sabotage leading contenders for the papacy using underhand tactics.

Last Thursday, reports circulated on right-wing US Catholic social media and on the site of a conservative Italian newspaper that Cardinal Pietro Parolin, who is on most shortlists to become pope, had suffered a health scare and needed an hour of medical treatment.

The Vatican spokesman said the reports were totally false. Italian media said it was an attempt to “poison” the 70-year-old cardinal’s chances by implying that his body was not up to the job. “This was a clear attempt to penalize Parolin,” Italian Cardinal Francesco Coccopalmerio told an Italian newspaper.

A few days after Francis’ death, a six-year-old video of Filipino Cardinal Luis Antonio Tagle singing parts of John Lennon’s “Imagine” in 2019 emerged on social media.

American and Italian conservative Catholic social media accused him of heresy, with one Italian traditionalist site asking: “Is this who we want as pope?” Tagle’s supporters countered that he had sung an abbreviated version that excluded the lyrics about no heaven and no religion.

“From the right and from the left, fake news about possible popes is going wild,” wrote Paolo Rodari, a Vatican commentator for RSI Swiss radio and television.

PUSHING CONSERVATIVES
Two well-known conservative journalists, Edward Pentin, a Briton, and Diane Montagna, an American, have prepared a 200-page, large format book in English and Italian called The College of Cardinals Report.

It includes profiles of 30 cardinals and their stand on key doctrinal and social issues.

Ms. Montagna has been handing it to cardinals entering and leaving the pre-conclave meetings.

Mr. Pentin told Reuters the book was “a service to the Church” and the inclusion of profiles of several ultra-conservative cardinals generally seen as having no chance of being elected was to give space to the possibility of “divine intervention” during the conclave.

On the other side of the spectrum, young, progressive Catholics from northern Europe have penned an open letter, urging the cardinals to pick a man who will continue with Francis’ reforms, saying he “opened doors, broke taboos.”

Tapping into long-running anger over the Church’s sexual abuse scandals, a number of groups have held news conferences in Rome to point out that the crisis is not over and rating the actions — or inactions — of some cardinal electors.

After each round of voting in the conclave, white smoke will emerge from the chimney of the Sistine Chapel if a pope has been elected and black smoke if he has not.

Perhaps the most colorful signal to the cardinals will come from the Women’s Ordination Conference, which promotes a female priesthood. The group plans to release pink smoke from a hill near the Vatican hours before the conclave starts.

“The exclusion of women from the conclave, and from ordained ministry, is a sin and a scandal,” executive director Kate McElwee said in a statement. “A group of ordained men meeting behind closed doors to make a consequential decision about the future of the church is textbook ‘old boy’s club’.” — Reuters

 

Filipino viewers can watch ABC News’ special coverage of the papal conclave and installation of the new pope  on Disney+. The coverage started streaming live on May 7. ABC’s World News Tonight anchor David Muir will lead the coverage, joined by anchors, correspondents, and reporters from ABC’s various news programs, plus contributors Father Jim Martin, Father John Wauck, and Helen Alvaré. The coverage will feature all voting session smoke releases until a new pope is announced. The replay of the papal conclave coverage will be available on Disney+ after the live streaming. 

All 133 cardinals who will take part in papal conclave arrive in Rome

Cardinals visit the tomb of late Pope Francis inside St. Mary Major Basilica in Rome, Sunday, April 27, 2025. — ANDREW MEDICHINI/POOL VIA REUTERS

VATICAN CITY — All of the 133 cardinals expected to take part in the secret conclave to elect a new pope have arrived in Rome, the Vatican said on Monday, with the race to succeed Pope Francis seen as wide open.

The conclave will start behind the closed, wooden doors of the Sistine Chapel on Wednesday afternoon, with all cardinals aged under 80 entitled to take part to choose a successor to Francis, who died last month.

Some cardinals are looking for a new pope who will continue with Francis’ push for a more transparent, welcoming Church, while others are seeking retrenchment to more traditional roots that put a premium on doctrine.

Conclaves are often spread out over several days, with multiple votes held before a contender wins the necessary three-quarters majority to become pope.

The world’s Catholic cardinals have been meeting on a near daily basis since the day after Francis’ death on April 21 to discuss the state of the 1.4-billion-member Church, with the numbers of participating clerics gradually swelling.

The Vatican said 180 cardinals, including 132 electors, took part in a meeting on Monday morning. The 133rd elector is also in Rome, but did not take part in the discussions.

Two cardinals, one from Spain and one from Kenya, will not be joining the conclave for health reasons, the Vatican said.

Among the questions addressed on Monday were “strong concern” about divisions within the Church, said the Vatican spokesman — a possible reference to splits over Francis’ decision to allow blessings for same-sex partners and to open discussion about the role of women in the Church.

Cardinals also talked about the profile of a future pope — “a figure who must be present, close, capable of being a bridge and a guide… a shepherd close to the real life of the people,” the spokesman said.

CHANGING LISTS
While there are a few cardinals seen as potential front-runners to succeed Francis    two often mentioned are Italian Cardinal Pietro Parolin and Filipino Cardinal Luis Antonio Tagle    many of the voting clerics have not made up their minds.

“My list is changing, and I think it will continue to change over the next few days,” British Cardinal Vincent Nichols, participating in his first conclave, told Reuters. “It’s a process which for me is far from concluded, far from concluded.”

The cardinals will hold a second session of talks on Monday afternoon, with a final round expected on Tuesday. Two Vatican guest houses will house the cardinals during the conclave, when they will be barred from contact with the outside world.

German Cardinal Walter Kasper, who is 92 and cannot take part in the vote, said he was sure the electors would choose someone to pursue Francis’ progressive agenda.

“I believe that there is a very clear expectation. People want a pope to follow Francis. A pastor who knows the language of the heart, who does not close himself in palaces,” Kasper told La Stampa newspaper.

“Of course, there are also cardinals who hope for a change of direction with respect to Francis. But my impression… is that the majority of cardinals are in favor of continuity.” — Reuters

 

Filipino viewers can watch ABC News’ special coverage of the papal conclave and installation of the new pope  on Disney+. The coverage started streaming live on May 7. ABC’s World News Tonight anchor David Muir will lead the coverage, joined by anchors, correspondents, and reporters from ABC’s various news programs, plus contributors Father Jim Martin, Father John Wauck, and Helen Alvaré. The coverage will feature all voting session smoke releases until a new pope is announced. The replay of the papal conclave coverage will be available on Disney+ after the live streaming. 

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