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Price cap on imported rice to take effect nationwide

REUTERS

THE Department of Agriculture (DA) said on Tuesday that the maximum suggested retail price (MSRP) scheme on imported rice will take effect nationwide starting Feb. 15.

Assistant Secretary and Spokesperson Arnel V. de Mesa said at a briefing that the DA will also lower the MSRP on imported rice to P55 per kilo for rice with broken-grain content of 5%.

Mr. De Mesa said the DA plans to further slash the MSRP on imported grain in the coming weeks following a review.

In a separate statement, Agriculture Secretary Francisco P. Tiu Laurel, Jr. said that the MSRP on rice could be lowered to below P50 per kilo by early March.

“After this reduction, we plan to lower it further to P52 a kilo by mid-February and then at P49 per kilo two weeks after. This should reflect the lower global prices of rice and the reduced tariff,” Mr. Laurel added.

The MSRP on imported rice first took effect on Jan. 20 around Metro Manila. It was imposed after imported rice prices remained stubbornly elevated despite the reduction of the import duty for the grain, as well as the easing of global prices.

Executive Order No. 62 slashed tariffs on rice imports to 15% from 35% previously until 2028, it was issued by President Ferdinand R. Marcos, Jr. last year and took effect in July.

According to DA price monitors surveying Metro Manila markets, as of Feb. 1, a kilo of imported special rice sold for between P52 and P61 per kilo, compared with the P57 and P65 range a year earlier.

The price of imported premium rice stood at P51-P58 per kilo as of Feb. 1, easing from P54-P62 a year earlier.

On the other hand, imported well-milled rice is currently selling for between P40 and P52 per kilo, with imported regular-milled rice fetching P38-P48.

“The decision (to take the MSRP national) follows extensive consultations with rice industry stakeholders, including importers and retailers, to ensure that the price decrease will benefit consumers without negatively affecting the supply of rice,” the DA said. — Adrian H. Halili

Part makers expect 30% local-content rule to generate $500 million

PHILSTAR FILE PHOTO

A LOCAL-CONTENT requirement of 30% for vehicles assembled in the Philippines and tax incentives will potentially attract $500 million in investments in the auto industry, the Philippine Parts Maker Association (PPMA) said.

In a statement on Tuesday, PPMA said one of its proposals to the Department of Trade and Industry “is to mandate a 30% local content requirement for vehicles assembled in the Philippines, coupled with tax incentives for automakers that comply.”

“This move could attract an estimated $500 million in investment and create over 50,000 new jobs in the auto parts sector. Additionally, it would reduce the country’s annual auto parts import bill, which currently stands at $2.5 billion,” it added.

According to the PPMA, the Philippines could emulate Vietnam’s local-content rules that prioritize domestically produced auto parts.

“By requiring automakers to source a significant percentage of components locally, Vietnam has not only boosted its auto parts manufacturing sector but also created thousands of jobs and attracted billions in investment,” it said.

Citing 2022 data, the PPMA said Vietnam’s auto parts industry has contributed over $5 billion to its economy.

In the Philippines, the auto parts industry only contributes $1.2 billion annually.

“Vietnam’s local-content policy is a game-changer. It has transformed their auto industry into a regional powerhouse, and we can achieve the same here in the Philippines,” PPMA President Ferdinand I. Raquelsantos said.

“By implementing a robust local-content rule, we can create a sustainable ecosystem for our parts manufacturers, generate employment, and reduce our reliance on imports,” he added.

He said the Philippines could double the output of its auto parts industry within five years.

“We have the talent, the technology, and the capability. What we need is a clear policy framework that incentivizes automakers to source locally and supports our manufacturers in meeting global standards,” he added. — Justine Irish D. Tabile

Philippines to launch free trade negotiations with Chile in April

REUTERS

THE PHILIPPINES and Chile are expected to start the first round of negotiations for a bilateral free trade agreement (FTA) in April, the Department of Trade and Industry (DTI) said.

“The first round will be (in Chile),” Trade Undersecretary Allan B. Gepty told reporters last week.

“We are finalizing the terms of reference,” he added.

Talks for a Philippines-Chile Comprehensive Economic Partnership Agreement were conducted in December.

On Dec. 6, Trade Secretary Ma. Cristina A. Roque and Chilean Minister of Foreign Affairs Alberto van Klaveren issued a joint statement marking the official launch of negotiations.

According to the joint statement, the two sides noted the benefits of a CEPA in increasing bilateral trade resulting from tariff liberalization, while providing economic and social benefits to both countries.

“The parties will endeavor to conclude the CEPA negotiations within a year from the date of launch,” according to the joint statement.

The CEPA aims to cover trade in goods and services as well as chapters on investment. 

The DTI has expressed hope for expanded market access for Philippine agricultural and processed products as well as semiconductors under the CEPA, while opening up access to Chilean wine.

Meanwhile, Mr. Gepty said that the Philippines is working on its planned accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

“We are working on the preparation for both the application process and consultation. We will also schedule meetings with CPTPP partners,” he added.

The CPTPP is an FTA involving 11 countries, — Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.

Last year, the UK signed the protocol of accession to join the CPTPP.

The DTI has said that the Philippines’ accession to the CPTPP will result in expanded market access in Chile, Mexico, Peru, Canada, and the UK.

“With the entry now of the UK, that gives us more reason to consider now joining the CPTPP because the UK, in a way, is an important partner for the Philippines. If I’m not mistaken, the UK would be the biggest economy in terms of gross domestic product and trade in the CPTPP next to Japan,” Mr. Gepty said.

Secretary Roque said the Philippines and the UK are committed to establishing the UK-Philippines Joint Economic and Trade Committee in the first half of the year.

“This dedicated platform will facilitate ongoing dialogue and cooperation on trade, investment, and economic issues between the two states,” the DTI said. — Justine Irish D. Tabile

Japan travel firms name Cebu among top foreign destinations

PHILSTAR FILE PHOTO

A JAPANESE travel reservation application and a travel company named Cebu as among the top international destinations for the Japanese market, the Department of Tourism (DoT) said.

Cebu ranked third in the Area Category for the NEWT Awards and was the seventh most booked international destination during the New Year period by HIS.

The rankings in the NEWT Awards were determined by the total value of bookings on the NEWT app between Dec. 1, 2023 and Nov. 30, 2024.

“Cebu’s top three ranking underscores its growing appeal among Japanese and international travelers, reinforcing its position as a premier island destination,” the DoT said in a statement on Tuesday.

Aside from being the seventh most-booked international destination during the New Year period by travel company HIS, the island-province also ranked fifth in the “Rapid Growth” category after registering a 126.8% year-on-year increase in bookings.

“Japan has always been a vital partner in our tourism growth, and this award reaffirms the increasing interest of Japanese travelers in our destinations,” Tourism Secretary Ma. Esperanza Christina G. Frasco said. 

In 2024, Japan was one of the Philippines’ largest source markets for visitors, ranking third after South Korea and the US.

According to the DoT, Japanese arrivals rose 22.84% last year to 444,528 visitors. — Justine Irish D. Tabile

PCCI backs delaying new import fees for alternative sweeteners

PHILIPPINE STAR/MIGUEL DE GUZMAN

THE PHILIPPINE Chamber of Commerce and Industry (PCCI) said it supports delaying the Sugar Regulatory Administration’s (SRA) new import clearance fees for some non-sugar sweeteners.

“We are glad that the Sugar Regulatory Administration has listened to and considered valid the concerns of the manufacturers, and acted immediately on the postponement of the order’s implementation,” PCCI President Eunina V. Mangio said in a statement on Tuesday.

Sugar Order (SO) No. 6, originally set to take effect on Feb. 1, imposes a P60 per metric ton clearance fee on imported commodities covered by tariff codes 1701, 1702 and 1704. These include sucrose, lactose, glucose, maltose, maple syrup, honey and caramel, and flavored syrups.

Additionally, commodities under tariff code 1704 include chewing gum and white chocolate not containing cocoa.

Last week, the SRA postponed the effectivity of SO 6 after pushback from food and beverage manufacturers, industry associations and chambers of commerce, citing the potential impact on confectionery and beverage prices from the higher fees.

The PCCI said industry groups also called on the SRA to consult at more broadly and conduct a Regulatory Impact Assessment on any policy changes.

Groups also urged the regulator to adopt the Anti-Red Tape Authority’s Ease of Doing Business approach, which calls for “simplified, efficient, and transparent governance.”

“Such regulatory measure should not be to the detriment of other quarters in the industry that are legitimately doing business,” Ms. Mangio added.

The SRA has said that the order is intended to help document and better monitor the entry of imported non-sugar sweeteners, and not to restrict their entry.

Domestic sugar producers had asked the SRA to regulate the entry of other sweeteners due to its threat to the sugar industry. — Adrian H. Halili

PHL seeks extension for $4 million grant for Bangsamoro bases transformation project

FACEBOOK.COM/CFSI.REBUILDINGLIVES

THE PHILIPPINES is seeking a four-month extension for the $4-million grant financed by the Bangsamoro Normalization Trust Fund to transform former separatist guerilla bases into economic engines for the Bangsamoro Autonomous Region in Muslim Mindanao.

The extension request seeks a new closing date of June 30 from the original Feb. 28.

The Bangsamoro Camps Transformation Project will assist the development of six former Moro Islamic Liberation Front camps “with the aim of transforming them into peaceful and productive communities.”

In the proposed extension, project-level implementation schedule and budget estimates will also be revised by (implementing agency) Community and Family Services International (CFSI).

The adjusted closing date are expected to allow the project to meet its set targets and project development objective, it said.

The grant was initially approved on June 21, 2023.

CFSI and the Bangsamoro Development Agency (BDA) will use this extension period to go beyond reporting outputs and focus on measuring and documenting the early outcomes of BCTP interventions. — Aubrey Rose A. Inosante

BIR collects P2.06T via e-payments by end of Oct.

IGACPAS.COM

THE Bureau of Internal Revenue (BIR) said on Tuesday that it collected P2.06 trillion via e-payments in the 10 months to October.

The BIR said e-payments accounted for 85% of total collections.

“We see that more and more people are actually using our e-services and paying online,” BIR Commissioner Romeo D. Lumagui, Jr. said on the sidelines of the National Tax Campaign Kick-off.

Mr. Lumagui said the bureau expects increased usage of its e-services, such as online filing and e-payment.

The BIR said 5.78 million e-payment transactions were recorded in the first 11 months last year, equivalent to 38% of transactions overall.

“What we’re doing is enhancing our e-lounges (in district offices) to guide taxpayers because some people who still prefer paper might not see how convenient e-services are,” he said.

“This way, all transactions that can be done online are directed there by our revenue officers, who also teach taxpayers how to use e-services to encourage them to adopt these convenient options.” — Aubrey Rose A. Inosante

Laguna first province to hit P1-trillion mark in economic contribution — PSA

PHILSTAR FILE PHOTO

LAGUNA became the first province to exceed the P1-trillion mark in terms of economic value contributed to the economy in 2023, the Philippine Statistics Authority (PSA) reported on Tuesday.

The province generated an economic value of P1.03 trillion in 2023, according to the PSA’s Provincial Product Accounts (PPA).

Laguna’s economic value was equivalent to 4.9% of gross domestic product (GDP) that year.

Philippines’ Top 10 GDP-Contributing Provinces in 2023

Also topping the rankings were Cavite (P780.05 billion or 3.7% of GDP), Batangas (P645.78 billion or 3.1%), Bulacan (P631.64 billion or 3%), and Pampanga (P566.57 billion or 2.7%).

Provinces generated P11.8 trillion in economic value in 2023, or 56.1% of GDP.

“It’s not a surprise that provinces that are urbanized have the largest provincial economy such as Laguna and Batangas. Further urban development can bring about industries and employment opportunities that have a higher value-added, such as manufacturing and IT services,” Reinielle Matt M. Erece, economist at Oikonomia Advisory and Research, Inc., said in an e-mail.

Batanes was the fastest-growing province in 2023, with its provincial product growth accelerating to 14.5% from 11.6% in 2022. The national average was 5.5% that year. Camiguin also posted double-digit growth with 11%.

On a per-capita basis, Bataan topped the rankings with P314,641, exceeding the national average of P186,476 in 2023. The other five provinces that surpassed the national average were Laguna (P294,388), Batanes (P286,386), Pampanga (P229,778), Misamis Occidental (P199,106), and Batangas (P197,984).

“Growth among the provinces in 2023 was largely due to stronger local demand and investments,” University of Asia and the Pacific Senior Economist Cid L. Terosa said in an e-mail.

The PSA also reported that 68 of the Philippines’ 82 provinces were predominantly services-based in 2023.

“As more provinces urbanize, demand for retail, banking, real estate, and hospitality services has surged,” Philippine Institute for Development Studies Senior Research Fellow John Paolo R. Rivera said via Viber.

“Services continue to contribute substantially to GDP for most provinces in 2023 because many forms of services have emerged and created new markets to serve growing demand. Many of these services are technology-driven,” Mr. Terosa said.

Mr. Terosa said that provinces may continue to register strong growth in 2024, though the rate of growth may have slowed.

“Base effects can also be a factor as to why we may see a slight drop in the growth of the 2024 PPA, given that 2023 was the year when the tourism sector skyrocketed,” Mr. Erece said.

“However, the IT-BPM sector is still seeing robust growth, and services being the dominant sector, can provide a positive growth outlook for provinces,” he added.

Additionally, persistent inflation and elevated interest rates in 2024 could dampen household consumption, particularly in provinces reliant on domestic demand, Mr. Rivera said.

The Bangko Sentral ng Pilipinas raised interest rates by 450 basis points during the May 2022-October 2023 period, bringing its policy rate to an over 17-year high of 6.5% as it sought to check inflation.

Mr. Rivera also said that weather disturbances and climate-related disruptions could “impact agricultural output, affecting growth in key farming provinces.”

The PPA will be institutionalized across all regions by 2025, ensuring annual compilation of data for all provinces and highly urbanized cities, the PSA said. — Pierce Oel A. Montalvo

Philippines stuns South Korea

FIL-SWEDISH Marc Pfister and Fil-Am Kathleen Dubberstein — PHILIPPINE SPORTS COMMISSION

In mixed doubles of curling at Asian Winter Games

THE Philippines’ Marc Pfister and Kathleen Dubberstein shocked heavy favorites Jihoon Seeong and Kim Kyeongae of South Korea, 12-6, in the mixed doubles of curling that jumpstarted the country’s campaign in the Ninth Asian Winter Games in Harbin, China on Tuesday.

It was a giant-sized triumph for the Filipinos as they brought down the South Korean tandem that is ranked 13th in the world and the best in Asia that sent shockwaves at the start of the round-robin Group A action.

“We are definitely the underdog team here but our athletes are here to compete and they are proud to represent the country,” said Curling Pilipinas Secretary-General Jarryd Bello.

“We have a chance to secure a medal we beat one of the top teams already,” he added.

A total of 11 nations are seeing action in the event with the Philippines and South Korea bracketed with Kyrgyzstan, Kazakhstan and Chinese Taipei.

The other group is being comprised of China, Hong Kong, Japan, Saudi Arabia, Qatar and Thailand.

The Filipinos are hoping to finish in the top two of their group to advance to the semis slated for Friday, and, if the stars align, gatecrash to the finals set the next day for a chance of claiming the country’s breakthrough gold medal in the quadrennial meet.

Mr. Pfister and Ms. Dubberstein were clashing with Kyrgyzstan late Tuesday and will take on Qatar at 10 a.m. and China at 6 p.m. on Wednesday to complete the round-robin stage.

Richard Lim, the country’s chef-de-mission, said the mammoth triumph should help boost the morale of the team as they seek to make history.

“This win gives us and our other athletes hope and I hope we sustain our winning ways up to the medal stage,” said Mr. Lim.

Short track speed skater Peter Groseclose will be the next man up for the country as he plunges into the men’s 1,500-meter (m) quarterfinal and 500-m and 1,000-m heats on Friday.

Expected to check in on Saturday are figure skaters Cathryn Limketkai and Sofia Frank while Paolo Borromeo, Isabella Gamez and Aleksandr Korovin are due on Sunday.

The opening ceremony is set for Friday at the Harbin International Convention Exhibition and Sports Center. — Joey Villar

Ginebra Gin Kings and Meralco Bolts clash anew for semifinal berth at PBA Commissioner’s Cup

Gin Kings’ Justin Brownlee — PBA

Games on Wednesday
(Smart Araneta Coliseum)
5 p.m. – Rain or Shine vs Converge (Game 1)
7:30 p.m. – Ginebra vs Meralco (Game 1)

REPEAT or revenge?

Over four months since their quarterfinal duel last conference, Barangay Ginebra and Meralco are back at it, disputing a semifinal ticket anew at the PBA Commissioner’s Cup.

It’s a short, race-to-two affair that kicks off on Wednesday at the Smart Araneta Coliseum, so getting a 1-0 running start is pivotal for the rivals.

“We’re excited we’re facing Ginebra,” said Bolts coach Luigi Trillo ahead of the 7:30 p.m. opener.

This marks the two’s 10th showdown in the PBA playoffs since 2016. The most recent one — the Governors’ Cup Final-8 last September, didn’t end particularly well for Meralco as Ginebra pulled off a 3-0 sweep. Thus payback is a motivation for the Bolts here.

“We knocked them out last conference so they’re going to be well motivated,” Ginebra tactician Tim Cone said.

“We remember very fondly we got our butts kicked; we got swept. And since then, they’ve added a ton of dominant players that you build the team around like (mid-season acquisition) Troy Rosario and (comebacking) Jamie Malonzo,” said Mr. Trillo.

“We know it’s not going to be easy. This team (Ginebra) doesn’t only play well offensively, they punish you defensively so we’ve got to be better all around. We know they’re capable but we’re also capable and we’ll be ready,” added Mr. Trillo.

The two clashed in a no-bearing elimination gig a week ago with Ginebra taking an inconsequential 91-87 win over an import-less Meralco.

But with everything to play for, not to mention Akil Mitchell expected back after recovering from back spasms and Justin Brownlee fully unleashed, there’s no pulling punches this time around.

Like the high-profile rivals, No. 3 Converge and No. 6 Rain or Shine are intent on drawing first blood in their side of the best-of-three quarterfinals at 5 p.m. — Olmin Leyba

NFL’s Roger Goodell open to international Super Bowl, 18-game season

NEW ORLEANS — NFL Commissioner Roger Goodell rates New Orleans, Louisiana as the perfect Super Bowl host but envisions taking the league’s marquee event beyond US borders.

“I do think there’s a potential that someday we’ll have an international franchise,” Goodell said on Monday afternoon in the Saints’ locker room at Caesars Superdome, set up for use by temporary tenants, the Philadelphia Eagles. “We do like to have — being here in New Orleans, this is a great thing for the New Orleans Saints. Have the world’s attention. I think the same would be true of an international franchise.”

Prior to last year’s Super Bowl in Las Vegas, Goodell publicly embraced moving to a shorter preseason — currently three per team — and expanding the regular season from 17 to 18 games to meet overwhelming interest from fans. Goodell said the NFL and NFLPA haven’t had formal negotiating sessions around expanding the regular season, which must be collectively bargained with players.

Goodell said the NFL continues to follow up with minority candidates regarding the “sincerity” of coaching interviews called into question recently under the “Rooney Rule” requirement for minorities to be included in team searches for coach and GM vacancies.

Asked about the Trump Administration making efforts to dismantle diversity and inclusion protocol in corporations and federal hiring, Goodell said the NFL is continuing those efforts “because it does make the NFL better.”

Goodell was seated on a makeshift stage with emcee Curt Menefee of FOX separated by the Lombardi Trophy and helmets of the Super Bowl LIX teams.

On the field on Sunday, the Chiefs are chasing a historic third consecutive Super Bowl victory while some fans and corners of social media are convinced Kansas City is receiving the benefit of favor from officials. Goodell said the NFL sees and hears complaints about officiating but denied there’s any legitimacy to the theory the league “scripts” or prefers that the Chiefs succeed.

New Orleans serves as the host city for a league record-tying 11th time on Sunday. Goodell and the league applauded renovations to the Superdome as the centerpiece of the headline event in pro sports.

Chiefs quarterback Patrick Mahomes attempts to win his fourth Super Bowl ring on Sunday, which would still be three shy of record-holder Tom Brady.

Brady is on the call of the game on Sunday with FOX in his first season as the featured game analyst on the network’s No. 1 team with Kevin Burkhardt. Brady’s presence in a dual role since he was approved as minority owner of the Las Vegas Raiders has connected him more closely than most know to Goodell.

The league reiterated on Monday that Brady is “still subject to tampering rules and held accountable for that” after new Raiders head coach Pete Carroll said Brady is integrally involved in the team’s football operation.

The NFL has two franchises in Los Angeles — the Rams and Chargers — and will play the Super Bowl at their home stadium in two years. Goodell said the league intends to be “good corporate citizens but also to lead” in the rebuilding process that could take years in some communities.

Five NFL employees lost their homes in the fires.

“The NFL is going to be there to support that,” the commissioner said. “It’s also going to be there to support our platform — give attention and focus to a community or issue that we all need to be aware of. We’ll want to be part of that and rebuilding LA as soon as possible.” — Reuters

Kings stave off Timberwolves in close second half

DEMAR DEROZAN scored 33 points on 14-for-25 shooting, and the Sacramento Kings held on for a 116-114 win over the Minnesota Timberwolves on Monday night in Minneapolis.

Malik Monk added 26 points and eight rebounds for Sacramento, which won for only the second time in the past six games. Keegan Murray scored 19 points, and Domantas Sabonis notched a double-double with 14 points and 11 rebounds.

Naz Reid scored 30 points on 12-for-19 shooting to lead Minnesota. Jaden McDaniels scored 22, and Rudy Gobert recorded a double-double with 19 points and 13 boards.

Timberwolves All-Star guard Anthony Edwards struggled in his return from a one-game absence due to an illness. He finished with 21 points but shot 7 of 21 from the field and 3 of 10 from beyond the arc.

Monk made a pair of free throws to put the Kings on top 112-108 with 17.2 seconds left.

On the next possession, Mike Conley drained a 3-pointer to pull Minnesota within 112-111 with 9.1 seconds to go.

Monk delivered again with two free throws to make it 114-111 with 6.1 seconds left. Sabonis added two more free throws to increase the lead to five points with 5 seconds remaining.

Edwards hit a 3-pointer just before the buzzer but it was too little, too late.

Minnesota trailed by as many as 10 points in the third quarter. The Timberwolves rallied to even the score at 77-all after Edwards sank a shot with 5:12 left in the session.

Sacramento led 67-59 at the half.

The Kings increased their lead with a 9-0 run late in the first half. Sabonis started the run with back-to-back shots, Keon Ellis added a basket, DeRozan made a technical free throw and Monk hit a floating jump shot to cap it off. — Reuters

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