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Grab, MOVE IT, driver communities mobilize relief operations for driver families

In the wake of recent harsh weather disruptions across Luzon, Grab and MOVE IT, in coordination with local driver community leaders and hundreds of volunteer driver- and rider-partners, mobilized large-scale relief operations to assist affected communities in Greater Metro Manila and neighboring provinces.

The volunteers extended aid to heavily impacted areas in Marikina, Las Piñas, Cavite, Valenzuela, Navotas, and Malabon, as well as nearby provinces such as Pampanga, Bulacan, Baguio, and Olongapo.

Thousands of Grab and MOVE IT partners, along with their families, who were affected by the recent torrential rains and flooding received relief packs containing rice, canned goods, noodles, biscuits, coffee, and essential medicines. The distribution highlights the platforms’ joint commitment — together with their partner communities — to safeguarding the welfare of  members of the Grab and MOVE IT communities.

“Our riders and drivers are the backbone of our ecosystem,” said Ronald Roda, managing director of Grab Philippines. “Supporting them with malasakit has always been our North Star. This is what it means to be a true partner — not just in their daily livelihood, but also in times of need.”

 

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Filinvest Land posts 6% revenue growth on strength of leasing and residential segments

Filinvest Land, Inc. (Filinvest Land/PSE: FLI), one of the country’s most trusted full-range property developers, reported P12.21 billion in consolidated revenues for the first half of 2025, up 6% from the same period last year. Net income rose 1% to P2.12 billion. The company’s performance was driven by sustained leasing momentum from its retail and office investment properties. Leasing revenues surged 12% to P4.10 billion, supported by steady demand across the company’s expanding office and retail portfolios. Real estate revenues are steady at P7.48 billion.

“Our focused efforts on targeted rent strategies and tighter cost controls have proven effective in boosting both occupancy and EBITDA, supporting the steady growth of our leasing business. We are optimistic that the upcoming openings of Filinvest Malls in Cubao and in Mimosa Leisure Estate in Clark will further drive this momentum. At the same time, we continue to push our residential developments in Visayas, Mindanao, and non-NCR Luzon regions, where we are seeing sustained demand,” said Tristan Las Marias, president and chief executive officer of Filinvest Land, Inc.

Retail Expansion Gathers Pace on Strong Occupancy and New Tenant Openings

Retail leasing revenues reached an all-time high of P1.32 billion in the first half of 2025, marking an 11% increase year on year. Growth was driven by the strong performance of anchor assets such as Festival Mall, alongside improved occupancy across regional malls including Il Corso in Cebu, Main Square in Bacoor, Fora Mall in Tagaytay, and the newly opened Filinvest Malls Dumaguete.

In the second quarter alone, over 8,000 square meters of tenant gross leasable area (GLA) commenced operations, while more than 10,000 square meters were signed for new leases. Total operational GLA across FLI’s retail portfolio now stands at 257,170 square meters.

Retail EBITDA margins improved to 56% from 53% year on year, reflecting operational efficiency, higher occupancy, and a more curated tenant mix across locations.

Office Segment Strengthens with Higher Occupancy and Strategic Tenant Mix

Office leasing revenues, including contributions from both REIT and Non-REIT, grew by 8% to P2.48 billion. This was supported by an 11% increase in occupied gross leasable area (GLA), resulting to a total of 398,000 square meters. Among the company’s new office locators are Pinnacle Intelligence, a BPO based in the United States and Qatar Aviation Services.

EBITDA margins for the office segment improved to 64%, up from 62% in the same period last year, reflecting a more focused strategy on securing long-term leases with traditional corporates and government clients.

Industrial Business as Emerging Anchor for the Future

Filinvest Land’s industrial business has emerged as a promising growth engine, reflecting strong demand and rising investor interest in the Philippines as a manufacturing hub.

All nine Ready-Built Factories (RBFs) in the Filinvest Innovation Parks in Calamba and New Clark City are now fully leased, with a total gross leasable area of 21,956 square meters. This milestone underscores both the quality of FLI’s industrial offerings and the increasing confidence of foreign locators in the country’s industrial potential.

The segment contributed P153 million in revenues during the first half of 2025, comprising P1 million from the sale of an industrial lot and P20 million in recurring rental income.

With a long list of inquiries for both industrial lot sales in FIPC and mega lot lease hold sale in New Clark City, Filinvest Land remains confident in the sustained growth and scalability of this emerging business segment.

Residential Real Estate Remains Stable

Filinvest Land’s real estate sales remained stable at P7.48 billion, backed by project completions, steady collections, and sustained demand for ready-for-occupancy (RFO) units.

The middle-income segment, which forms the core of Filinvest Land’s residential portfolio, accounted for 70% of total residential revenues in the first half of 2025. Gross profit margins rose to 53%, up from 51% in the same period last year, while EBITDA reached P2.7 billion — 2% higher year on year.

Looking at regional performance, Luzon, excluding areas in NCR, accounted for 37% of total option sales. This was primarily driven by strong take-up in New Leaf and Rosewood Place in Trece Martires, Sandia Homes in Batangas, and The Glens in San Pedro, Laguna. Meanwhile, Visayas and Mindanao also contributed another 37%, led by sustained demand in One Oasis and San Remo Oasis in Cebu, Maldives Oasis and 8 Spatial in Davao, and Futura Vinta in Zamboanga.

FLI continues to roll out inventory strategically. Its most recent launch is a new building at Maldives Oasis in Davao City, offering over 300 units and further strengthening its presence in high-growth urban centers.

Meanwhile, our Co-Living business, which involves a fully leased out The Crib Clark, remains a solid contributor, generating P136 million in rental income and is expected to remain firm for the coming months.

Filinvest Land Honored at 2025 Stevie® Awards for Great Employers

Filinvest Land was recognized at the 2025 Stevie® Awards for Great Employers, earning a Bronze Stevie® for Employer of the Year in Real Estate — the only Philippine real estate company to receive this global recognition, joining the ranks of IBM and DHL. This comes on the heels of being named one of the Philippines’ Best Employers for 2025 by the Philippine Daily Inquirer and Statista, reaffirming its people-first culture.

FLI’s award-winning, data-driven HR strategy has delivered results: a 95% on-time hiring rate, 97% job offer acceptance, and 45+ training hours per employee. Women now comprise over half of its leadership pipeline, supported by strong wellness programs, full HMO coverage, and 100% participation in its internal feedback platform, Filinvest Listens.

“We grow because our people grow,” said President and CEO Tristan Las Marias. “Their passion fuels our mission of building lasting dreams for Filipinos.”

The win is part of a broader milestone for the Filinvest Group, with parent firm FDC also securing multiple Stevie® wins in leadership, recruitment, and organizational culture.

 

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Trump announces $100 billion new investment pledge from Apple

FILE PHOTO | By Official White House Photo - https://www.whitehouse.gov/briefings-statements/photos-of-the-week-042718/, Public Domain, https://commons.wikimedia.org/w/index.php?curid=71707805

WASHINGTON – President Donald Trump announced on Wednesday that Apple will invest an additional $100 billion in the United States, a move that could help it sidestep potential tariffs on iPhones.

The new pledge raises Apple’s total domestic investment commitment in the U.S. to $600 billion over the next four years. Earlier this year, the company announced it would invest $500 billion and hire 20,000 workers across the country in that period.

The announcement centers on expanding Apple’s supply chain and advanced manufacturing footprint in the U.S., but still falls short of Mr. Trump’s demand that Apple begin making iPhones domestically.

“Companies like Apple, they’re coming home. They’re all coming home,” Mr. Trump told reporters in the Oval Office, moments after Apple CEO Tim Cook gave him a U.S.-made souvenir with a 24-karat gold base.

“This is a significant step toward the ultimate goal of ensuring that iPhones sold in America also are made in America,” Mr. Trump added.

Asked if Apple could eventually build entire iPhones in the U.S., Mr. Cook noted that many components such as semiconductors, glass and Face ID modules are already made domestically, but said that final assembly will remain overseas “for a while.”

While the investment pledge is significant, analysts say the numbers align with Apple’s typical spending patterns and echo commitments made during both the Biden administration and Mr. Trump’s previous term.

In May, Mr. Trump had threatened Apple with a 25% tariff on products manufactured overseas, a sharp reversal from earlier policy when his administration had exempted smartphones, computers and other electronics from rounds of tariffs on Chinese imports. Mr. Trump’s effort to reshape global trade through tariffs cost Apple $800 million in the June quarter.

“Today is a good step in the right direction for Apple, and it helps get on Trump’s good side after what appears to be a tension-filled few months in the eyes of the Street between the White House and Apple,” said Daniel Ives, an analyst with Wedbush Securities.

 

“A SAVVY SOLUTION”

Apple has a mixed track record when it comes to following through on investment promises.

In 2019, for instance, Mr. Cook toured a Texas factory with Trump that was promoted as a new manufacturing site. But the facility had been producing Apple computers since 2013 and Apple has since moved that production to Thailand.

Apple continues to manufacture most of its products, including iPhones and iPads, in Asia, primarily in China, although it has shifted some production to Vietnam, Thailand and India in recent years.

Despite political pressure, analysts widely agree that building iPhones in the U.S. remains unrealistic due to labor costs and the complexity of the global supply chain.

“The announcement is a savvy solution to the president’s demand that Apple manufacture all iPhones in the U.S.,” said Nancy Tengler, CEO and CIO of Laffer Tengler Investments, which holds Apple shares.

Partners on Apple’s latest U.S. investment effort include specialty glass maker Corning, semiconductor manufacturing equipment supplier Applied Materials, and chipmakers Texas Instruments, GlobalFoundries, Broadcom and Samsung.

Apple said Samsung will supply chips from its production plant in Texas for its products including iPhones, while GlobalWafers said it would be supplying 300mm silicon wafers from its Texas plant.

Apple shares closed up 5% on Wednesday. Shares of Corning rose nearly 4% in extended trading, while Applied Materials gained almost 2%. – Reuters

South Korea says Samsung, SK Hynix will not be subject to 100% US chip tariffs

REUTERS

SEOUL – South Korea’s top trade envoy Yeo Han-koo said on Thursday that Samsung Electronics and SK HynixS will not be subject to 100% U.S. tariffs on chips.

Yeo said on radio that among various countries, South Korea will face the most favorable U.S. tariff rates on chips under the trade deal between Washington and Seoul.

He did not elaborate.

U.S. President Donald Trump said on Wednesday the United States will impose a tariff of about 100% on semiconductors imported from countries not producing in the U.S. or planning to do so. But it would not apply to companies that had made a commitment to manufacture in the U.S. or were in the process of doing so.

Mr. Trump’s comments were not a formal announcement and much remains unclear.

Samsung has invested in two chip fabrication plants in Austin and Taylor, Texas, while SK Hynix has announced plans to build an advanced chip packaging plant and research and development facility for artificial intelligence products in Indiana.

“While both Samsung and SK Hynix have made U.S. investments, there are doubts about whether SK Hynix’s packaging plant alone would fully qualify for tariff exemptions,” said Baik Gil-hyun, an analyst at Yuanta Securities.

“Samsung, on the other hand, appears to be benefiting not only from that but also from news that it has joined Apple’s supply chain.”

Apple said on Wednesday that Samsung Electronics will supply chips from its production plant in Texas for Apple products including iPhones.

Shares in Samsung Electronics climbed 2.6% while shares in SK Hynix were trading up 0.6% in line with the broader market.

Both companies declined to comment on Mr. Trump’s remarks. – Reuters

July was Earth’s third-hottest on record, included a record for Turkey, EU scientists say

VECTORJUICE-FREEPIK

BRUSSELS – Last month was Earth’s third warmest July since records began and included a record national temperature in Turkey of 50.5 degrees Celsius (122.9 Fahrenheit), scientists said on Thursday.

Last month continued a trend of extreme climate conditions that scientists attribute to man-made global warming, even though there was a pause in record-breaking temperatures for the planet.

According to the EU’s Copernicus Climate Change Service (C3S), the average global surface air temperature reached 16.68 C in July, which is 0.45 C above the 1991-2020 average for the month.

“Two years after the hottest July on record, the recent streak of global temperature records is over – for now,” said Carlo Buontempo, director of C3S.

“But this doesn’t mean climate change has stopped. We continued to witness the effects of a warming world in events such as extreme heat and catastrophic floods in July.”

While not as hot as the record-setting July 2023 and second-warmest July 2024, Earth’s average surface temperature last month was still 1.25 C above the 1850-1900 pre-industrial period, when humans began burning fossil fuels on an industrial scale.

Moreover, the 12-month period from August 2024 to July 2025 was 1.53 C warmer than pre-industrial levels, exceeding the 1.5 C threshold that was set as a maximum in the Paris Agreement that sought to curb global warming and entered into force in 2016.

The main cause of climate change is the release of greenhouse gases from burning fossil fuels.

Last year was the world’s hottest year ever recorded.

The world has not yet officially surpassed the 1.5 C target, which refers to a long-term global average temperature over several decades.

However, some scientists argue that staying below this threshold is no longer realistically achievable. They are urging governments to accelerate cuts to CO2 emissions to reduce the extent of the overshoot and curb the rise in extreme weather events.

The C3S has temperature records dating back to 1940, which are cross-referenced with global data reaching as far back as 1850. – Reuters

Trump says US will levy 100% tariff on some chip imports

WASHINGTON – The United States will impose a tariff of about 100% on semiconductor chips imported from countries not producing in America or planning to do so, President Donald Trump said.

Mr. Trump told reporters in the Oval Office on Wednesday the new tariff rate would apply to “all chips and semiconductors coming into the United States,” but would not apply to companies that had made a commitment to manufacture in the United States or were in the process of doing so.

“If, for some reason, you say you’re building and you don’t build, then we go back and we add it up, it accumulates, and we charge you at a later date, you have to pay, and that’s a guarantee,” Trump added.

The comments were not a formal tariff announcement, and Mr. Trump offered no further specifics.

It is not clear how many chips, or from which country, would be impacted by the new levy. Taiwanese chip contract manufacturer TSMC 2330.TW – which makes chips for most U.S. companies – has factories in the country, so its big customers such as Nvidia are not likely to face increased tariff costs.

The AI chip giant has itself said it plans to invest hundreds of billions of dollars in U.S.-made chips and electronics over the next four years. An Nvidia spokesperson declined to comment for this story.

“Large, cash-rich companies that can afford to build in America will be the ones to benefit the most. It’s survival of the biggest,” said Brian Jacobsen, chief economist at investment advisory firm Annex Wealth Management.

Congress created a $52.7 billion semiconductor manufacturing and research subsidy program in 2022. The Commerce Department under President Joe Biden last year convinced all five leading-edge semiconductor firms to locate chip factories in the U.S. as part of the program.

The department said the U.S. last year produced about 12% of semiconductor chips globally, down from 40% in 1990.

Any chip tariffs would likely target China, with whom Washington is still negotiating a trade deal.

“There’s so much serious investment in the United States in chip production that much of the sector will be exempt,” said Martin Chorzempa, senior fellow at the Peterson Institute for International Economics.

Since chips made in China won’t be exempt, chips made by SMIC or Huawei would not be either, Mr. Chorzempa said, noting that chips from these companies entering the U.S. market were mostly incorporated into devices assembled in China.

“If these tariffs were applied without a component tariff, it might not make much difference,” he said.

Chipmaking nations South Korea and Japan, as well as the European Union, have reached trade deals with the U.S., potentially giving them an advantage.

The EU said it agreed to a single 15% tariff rate for the vast majority of EU exports, including cars, chips and pharmaceuticals. South Korea and Japan said separately that U.S. agreed not to give them worse tariff rates than other countries on chips, suggesting a 15% levy as well. – Reuters

Trump threatens takeover of Washington, D.C., with National Guard to fight crime

REUTERS

WASHINGTON – President Donald Trump on Wednesday suggested he may use the National Guard to police the streets of Washington, D.C., in his latest threat to take over running the city that serves as the seat of the U.S. government.

“We have a capital that’s very unsafe,” Mr. Trump told reporters at the White House. “We have to run D.C. This has to be the best-run place in the country.”

Mr. Trump, who has threatened a federal takeover of the city multiple times, renewed those threats after a young staffer who was part of Elon Musk’s Department of Government Efficiency was assaulted over the weekend.

Mr. Musk, the billionaire former adviser to Mr. Trump who once spearheaded the DOGE effort, said the man was beaten and received a concussion. “It is time to federalize DC,” he wrote.

Asked if he was considering taking over the D.C. police, Mr. Trump responded affirmatively.

“We just almost lost a young man, beautiful handsome guy that got the hell knocked out of him,” Mr. Trump said.

The president posted a picture of the victim, Edward Coristine, known by the nickname “Big Balls,” on social media, with blood on his face, arms, torso and legs.

“We’re going to beautify the city. We’re going to make it beautiful. And what a shame, the rate of crime, the rate of muggings, killings and everything else. We’re not going to let it. And that includes bringing in the National Guard, maybe very quickly, too,” Trump said.

A spokesman for D.C. Mayor Muriel Bowser declined to comment.

Violent crime in the first seven months of 2025 was down by 26% in D.C. compared to last year while overall crime was down about 7%, according to records on the police department’s website.

Overall crime was down 15% in 2024, compared to 2023, the website showed.

The District of Columbia was established in 1790 with land from neighboring Virginia and Maryland. Congress has control of its budget, but resident voters elect a mayor and city council, thanks to a law known as the Home Rule Act. For Mr. Trump to take over the city, Congress likely would have to pass a law revoking that act, which Trump would have to sign.

The president said on Wednesday that lawyers were already looking at overturning the Home Rule Act. – Reuters

Philippine economy grows 5.5% annually in second quarter

PHILIPPINE STAR/WALTER BOLLOZOS

MANILA – The Philippine economy grew by 5.5% in the second quarter of 2025 from a year earlier, official data showed on Thursday, compared to the previous quarter’s 5.4% expansion.

Economists in a Reuters poll had expected growth of 5.4%.

On a seasonally adjusted basis, the economy grew 1.5% quarter-on-quarter, compared to the median forecast of 1.3% in a Reuters poll of economists.

“With this performance, we maintain our place among the fastest growing economies in emerging Asia,” Department of Economy, Planning, and Development Secretary Arsenio Balisacan told a press conference. — Reuters

Sy siblings, Razon, Villar lead 2025 Forbes list of PHL’s 50 richest

High-rise buildings dominate the Metro Manila skyline. — PHILIPPINE STAR/EDD GUMBAN

The Sy siblings have once again topped the Forbes list of the Philippines’ 50 Richest for 2025, with a combined net worth of $11.8 billion, according to Forbes Asia.

The heirs to the SM Group empire held their top position despite a $1.2 billion dip in their wealth.

Ports and casino tycoon Enrique K. Razon, Jr., chairman of International Container Terminal Services, Inc. and Bloomberry Resorts Corp., retained the No. 2 spot with $11.5 billion.

Former senator and property magnate Manuel B. Villar, Jr. stayed in third place with a fortune of $11 billion.

San Miguel Corp. Chairman and Chief Executive Officer Ramon S. Ang ranked fourth with a net worth of $3.75 billion, followed by Isidro A. Consunji & siblings of DMCI Holdings, Inc. at No. 5 with $3.7 billion.

The Que Azcona family, taking over from the late Mercury Drug Corp. President Vivian Q. Azcona who passed away in April, debuted at No. 6 with $3.6 billion. The drugstore chain is now led by her son, Steven Azcona.

Jaime Zobel de Ayala & family of conglomerate Ayala Corp. came in seventh with $3.4 billion.

At No. 8 is airline and liquor magnate Lucio C. Tan, who holds a net worth of $3.2 billion.

Puregold Price Club, Inc. founders Lucio and Susan Co were listed ninth with $3 billion, while Jollibee Foods Corp. Chairman Tony Tan Caktiong rounded out the top ten with $2.9 billion.

The minimum net worth to make the 2025 list was $185 million, up from $170 million the previous year.

 

The full list appears in the August issue of Forbes Asia and on forbes.com/philippines.— Arjay L. Balinbin and Revin Mikhael D. Ochave

How a viral TikTok video boosted Merced Bakeshop’s sales tenfold

A TikTok video of a content creator recalling her childhood memories went viral, driving a tenfold increase in sales for Merced Bakeshop, a 53-year-old business known for its signature “Beehive” pastry.

“We had social media before but TikTok is something else,” Max Gana, vice president of Merced Bakehouse, told BusinessWorld in an interview. “We didn’t expect that kind of reach.”

Interview by Almira Martinez
Video editing by Arjale Queral

#ViralMarketing
#TikTokEffect
#SmallBusinessGrowth
#PhilippineMSMEs
#BusinessWorldPH

Agri grows 5.7%, fastest since 2017

A farmer plows a small rice field in Quezon City, Feb. 18, 2025. — PHILIPPINE STAR/MIGUEL DE GUZMAN

AGRICULTURAL OUTPUT expanded by an annual 5.7% in the second quarter — the fastest pace in eight years — as better weather conditions enabled high-value crops such as rice and corn to post double-digit growth, the Philippine Statistics Authority (PSA) said on Wednesday.

Data from the PSA showed the value of production in agriculture and fisheries at constant 2018 prices increased by 5.7% to P437.53 billion in the April-to-June period, faster than the 2% growth in the first quarter.

This was a reversal of the 3.2% contraction in the second quarter of 2024 when the agriculture sector was affected by drought and dry spells caused by the El Niño weather phenomenon.

Performance of Philippine AgricultureThis was also the fastest growth in agricultural output since 6.4% in the second quarter of 2017.

“Crops and poultry recorded expansions in the value of production, while livestock and fisheries registered declines during the period,” the PSA said.

At current prices, the value of production in agriculture and fisheries rose to P606.794 billion.

For the first half, the value of farm output expanded by 3.8% to P875.56 billion, a reversal of the 1.5% decline a year earlier.

“We know that we still have to do a lot more to realize the vision of President Ferdinand R. Marcos, Jr. for a modern agricultural sector, where farmers and fisherfolk reap the full benefits of their hard work. But this result — and that of the first quarter — are a clear indication that we are on the right track,” Agriculture Secretary Francisco P. Tiu Laurel, Jr. said in a statement.

Agriculture accounts for about a tenth of gross domestic product (GDP) and about a quarter of all jobs. The PSA will release second-quarter GDP data today (Aug. 7).

Crop output, which accounted for 56% of total agricultural production, rose by 11.3% to P244.9 billion in the second quarter. Palay and corn posted double-digit growth of 13.9% and 27.3%, respectively.

“Palay and corn and poultry are expected to rebound because of good weather and high prices,” former Agriculture Undersecretary Fermin D. Adriano said in a Viber message.

Other crops that saw double-digit expansion include sugarcane (341%), onion (77.5%), coffee (14.5%), cabbage (11.7%) and cacao (11.4%).

On the other hand, declines were seen in the value of production of abaca (18.2%), tomato (16%), mongo (13.6%), mango (8.6%), sweet potato (8%), potato (5.5%), banana (2.6%), and pineapple (1.1%).

Raul Q. Montemayor of the Federation of Free Farmers said better performance of the agriculture sector this year was expected since 2024 was an “abnormal year” due to the El Niño weather phenomenon.

For the first half, crop output grew by 5.9% to P494.5 billion, reversing the 4.4% contraction last year.

At the same time, poultry, which made up 17.2% of total farm output, went up by 7% to P75.07 billion in the second quarter. However, this was slower than 9.8% in the first quarter, and 8.7% in the second quarter of 2024.

The value of production for chicken grew by 8.2%, while chicken eggs rose by 4.8%. However, duck production fell by 1.1%, while duck eggs dipped by 0.7%.

For the first six months of the year, poultry production jumped by 8.4% to P150.57 billion. This was an improvement from the 7.3% growth in the same period in 2024.

LIVESTOCK, FISHERIES
Meanwhile, the value of production for livestock declined by 5.9% to P59.6 billion in the April-to-June period, worsening from the 0.3% drop in the same quarter a year ago and the 2.8% decline in the first quarter. Livestock accounted for 13.6% of total agricultural output.

In the second quarter, hog output contracted by 7.5%, while carabao production also fell by 2.9%.

On the other hand, dairy production grew by 9.6%, while cattle and goat rose by 2% and 1.3%, respectively.

For the first six months, the value of livestock production declined by 4.4% to P117.43 billion, worse than the 1.9% drop in the same period a year ago.

On the other hand, the value of fishery output declined by 4.2% to P57.96 billion in the second quarter, reversing the 2.4% growth in the same quarter in 2024 and the 1.5% growth in the first quarter.

Fisheries accounted for 13.2% of total farm output.

Double-digit declines were seen for skipjack (35.6%), bigeye tuna (28.8%), P. Vannamei (22.4%), bluecrab or alimasag (19.6%), Bali sardinella or tamban (15%), mudcrab or alimango (11.9%), fimbriated sardines (11.2%), and roundscad or galunggong (10.4%).

Higher production was seen for grouper or lapu-lapu (25.6%), Indian mackerel or alumahan (20.7%), slipmouth or sapsap (17.9%), yellowfin tuna or tambakol (12.5%), threadfin bream or bisugo (12.1%), and big-eyed scad or matangbaka (9.1%).

Seaweed production grew by 6.1% in the April-to-June period.

In the January-to-June period, the value of fishery output slid by 1.5% to P113.05 billion, reversing the 1.1% growth a year ago.

Analysts said the agricultural and fishery production in the third quarter would likely post a contraction due to the heavy rains that caused floods around the country.

“The prospects for the third quarter are very challenging due to the presence and impact of extreme weather events like typhoons, flooding and soil erosion,” former Agriculture Secretary William Dar said in a Viber message.

The Department of Agriculture (DA) said in late July the agricultural damage due to monsoon rains and recent tropical storms reached P3 billion, affecting 93,070 farmers and fishers.

“The government must continue to make the needed investments to make the agriculture sector more climate resilient,” Mr. Dar said.

Mr. Adriano expects palay production to decline in the third quarter.

“Corn will contract as it is the rainy season, and corn does not like too much water,” he said.

Mr. Adriano said livestock production will continue its “lackadaisical” performance due to the African Swine Fever (ASF).

The Food and Drug Administration has yet to approve a Vietnamese vaccine against ASF for commercial rollout.

“Poultry is expected to grow unless hit by bird flu because of higher demand as it is the cheapest source of protein particularly for the poor,” Mr. Adriano said.

“As for fishery, performance will depend on whether we will be hit by destructive typhoons or not,” he added. — KATA

Marcos suspends rice imports for 60 days

Workers unload sacks of rice from a truck along Dagupan St. in Manila. — PHILIPPINE STAR/RYAN BALDEMOR

By Chloe Mari A. Hufana, Reporter

PRESIDENT Ferdinand R. Marcos, Jr. has ordered a 60-day suspension of rice imports starting Sept. 1, in a move aimed at protecting Filipino farmers affected by low rough rice prices during the harvest season.

The President acted on the recommendation of the Department of Agriculture (DA) after consultations with his Cabinet while on a five-day state visit to India, acting Presidential Communications Secretary Dave M. Gomez told reporters on Wednesday.

“[The move is] to protect local farmers reeling from low palay prices during this current harvest season,” he said.

Mr. Gomez said there are no plans to act on the DA’s recommendation to hike the rice tariff to 25% from the current 15%.

“We will still see if we need to resort to that. Right now, the decision is to suspend all rice importation for 60 days beginning Sept. 1,” he added.

The Philippines is the world’s biggest rice importer, having brought in 2.44 million metric tons (MT) as of end-July, based on Bureau of Plant Industry data. The country imported 4.7 million MT last year and is projected to exceed that volume this year. 

In June, Agriculture Secretary Francisco P. Tiu Laurel, Jr., told the House of Representatives he had recommended gradually restoring the rice import tariff to its original 35% rate from 15%, which was set under Executive Order (EO) No. 62 signed by Mr. Marcos in June 2024.

The 35% rate, valid until 2028, is subject to review every four months.

The debate comes as Philippine inflation slowed to 0.9% in July, the lowest since October 2019, according to data released on Tuesday by the Philippine Statistics Authority.

Food prices dropped, including a 15.9% year-on-year decrease in rice prices, helping ease overall price pressures.

“The suspension is a more calibrated action — one that we can quickly reverse if needed… It gives us the flexibility to act fast to protect both our farmers and our consumers. A premature tariff hike, on the other hand, could backfire and would take much longer to undo,” Mr. Tiu Laurel said in a separate statement.

He said the two-month pause on rice imports would allow the DA to assess the impact on palay prices and the market.

“If this strategy leads to higher farmgate prices and better income for our farmers, we may no longer need to raise the tariff,” he said.

Former Agriculture Secretary William D. Dar said the temporary suspension of rice imports is expected to benefit Filipino farmers by allowing them to secure better prices during the harvest season.

Since imported rice typically arrives 60 days after ordering, the timing supports the local market without disrupting supply, he added.

“The 60-day suspension is good enough to achieve meaningful impact on our rice industry and market,” Mr. Dar said via Viber.

“Inflation will be at very low levels, [and] we are also able to manage enough supply,” he added. “It will always be necessary to pursue a balanced strategy for a win-win arrangement — the farmers getting [a] fair price [for] their produce and the consuming public for a fair price as well.”

Samahang Industriya ng Agrikultura Executive Director Jayson H. Cainglet said the 60-day halt on rice imports offers little real benefit to Filipino farmers, as rice tariffs remain at 15% and unmilled rice prices are expected to stay low.

He argued that EO 62 failed to protect local producers or stabilize the market, with importers able to time shipments around the suspension. With warehouses already full, there is no urgent need for new imports.

“Given these realities, the most effective and urgent course of action is to revert rice import tariffs to their previous levels: 35% for Association of Southeast Asian Nations (ASEAN) imports [and] 50% for non-ASEAN imports,” Mr. Cainglet said via Viber.

Fermin D. Adriano, a former undersecretary at the DA, called the initiative a “political move.”

“If I am [a] trader, having huge stocks in my warehouses, I will just wait for the two months to lapse before I resume importation,” he said via Viber.

“It takes around two months for [negotiations] with Vietnamese sellers and [the] actual arrival of rice imports. This is obviously just a political move.”

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