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4th quarter palay output estimate cut to 7.54 million MT

THE PHILIPPINE Statistics Authority (PSA) said it reduced its estimate for fourth quarter output of palay, or unmilled rice, to 7.54 million metric tons (MT).

DA, BCDA to establish P285-M agri-industrial site in New Clark City

THE Agriculture department and the Bases Conversion and Development Authority (BCDA) recently signed an agreement covering the development of the first agri-industrial zone at New Clark City in Tarlac.

Lower levels of pesticide, heavy metals found in domestically-produced rice

DOMESTICALLY-produced rice has lower pesticide and heavy-metals content than rice produced elsewhere in the region, according to a scientist from the Philippine Rice Research Institute (PhilRice).

Motorcycle delivery riders, more essential than ever, have seen job security...

ARIES JAY C. DE GUIA, 28, a motorcycle delivery rider in Valenzuela City, considers himself lucky these days to clear P500 a day — less than half of what he used to earn before the pandemic, and below the prevailing minimum wage for Metro Manila.

Ayala Corp. decouples chairman and CEO positions

JAIME Augusto Zobel de Ayala will be solely focusing as Ayala Corp.’s chairman of the board, the conglomerate said on Thursday, after some of its subsidiaries earlier made announcements of succession moves.

Roxas Holdings posts P3.8-B net loss

LISTED sugar and ethanol producer Roxas Holdings, Inc. (RHI) posted an attributable net loss of P3.81 billion for its 2020 fiscal year that ended on Sept. 30 despite cutting its net debt.

Pepsi secures approval of PSE for voluntary delisting of shares

PEPSI-COLA Products Philippines, Inc. said on Thursday that the Philippine Stock Exchange (PSE) approved its petition to delist its shares.

Shares inch down as investors pocket their gains

PHILIPPINE SHARES inched lower on Thursday as investors booked profits and remained wary of rising coronavirus disease 2019 (COVID-19) cases around the world.

Palay farmgate price rises 1.3% in late Nov.

THE average farmgate price of palay, or unmilled rice, rose 1.3% week on week to P15.84 per kilogram in the last week of November, with the price up 0.6% year on year, according to the Philippine Statistics Authority (PSA).

STI unit sells 20% equity in Maestro Holdings for P60M gain

A SUBSIDIARY OF STI Education Systems Holdings, Inc. has sold 20% of its equity in Maestro Holdings, Inc. (MHI) to Chita SPC Ltd., in efforts to mitigate the volatility in its future earnings.

San Miguel Foods unit launches ready-to-eat line

THE FOOD SERVICE unit of San Miguel Foods has recently introduced a ready-to-eat product line that aims to help food business owners and entrepreneurs become more efficient in their businesses.

Electricity spot market price falls in November

THE EFFECTIVE settlement spot price at the Wholesale Electricity Spot Market (WESM) fell 10.1% month-on-month to P1.86 per kilowatt-hour (kWh) in November due to ample power supply and the colder weather, according to its operator.

PHL stocks rebound on positive remittances data

LOCAL SHARES bounced back on Wednesday as investor sentiment improved after the release of central bank data showing higher remittances from Filipinos abroad in October.

Regional Updates (12/16/20)

THE BUREAU of Fisheries and Aquatic Resources (BFAR) has lifted the red tide warning for Inner Malampaya Sound in Palawan, Matarinao Bay in Eastern Samar and San Pedro Bay in Western Samar.

P1B added to LANDBANK farmer lending program

THE Department of Agriculture (DA) has given P1 billion to the Land Bank of the Philippines (LANDBANK) to serve as additional funding for an emergency loan programs targeted at small farmers and fisherfolk.

Agri dep’t lifts suspension on poultry imports from Brazil

THE Department of Agriculture (DA) said it lifted the suspension on poultry imports from Brazil, after Brazilian veterinary authorities submitted certifications requested by the Philippines.

PHL wheat import outlook cut on weak animal feed demand

PHILIPPINE wheat imports are expected to total 6.8 million metric tons (MT) in the 2020-2021 marketing year (MY), downgrading its previous estimate of 7 million MT due to weaker demand for animal feed, the US Department of Agriculture (USDA) said.

Cost-cutting measures help boost Victorias Milling’s profit

LISTED sugar miller Victorias Milling Co., Inc. (VMC) posted a 2.8% rise in attributable net income to P840.03 million for its fiscal year that ended on Aug. 31, 2020, carried by higher revenues and lower operating expenses. 

Shares decline as coronavirus cases surge anew

STOCKS ended their three-day rally, finishing in red territory on Tuesday, as market sentiment was affected by rising coronavirus disease 2019 (COVID-19) cases globally.

Beekeepers warn low prices a red flag for fake, adulterated honey ...

REAL HONEY can cost up to P500 per 500 grams, beekeepers said, warning that anything priced significantly lower should be treated as suspicious, after the market was roiled by a government study that found up to 82% of domestic honey to be fake.

POGO office vacancies expected to enable expansion by BPOs

OFFICE VACANCIES following the departure of online gaming firms could be filled by expanding IT-Business Processing Manufacturing (IT-BPM) companies, making the industry a key barometer for a real estate recovery, Leechiu Property Consultants said in a report.

Apex Mining reports 69 COVID-19 cases in Davao de Oro mine...

APEX MINING Co., Inc. said that 69 employees and contractors working at its Maco Mine in Davao de Oro had tested positive for the coronavirus disease 2019 (COVID-19).

PSEi extends rally as investors await BSP review

THE LOCAL MARKET closed higher on Monday, sustaining its rally, as investors await the upcoming policy meeting of the central bank.

Regional Updates (12/14/20)

THE MAYOR of Valenzuela City on Monday asked NLEX Corp. to make up its mind about his proposal to keep barriers up at its toll plazas to ease traffic congestion.

URC named top exporter for food and beverage sector

FOOD MANUFACTURER Universal Robina Corp. (URC) was recognized by the Department of Trade and Industry (DTI) as the country’s top exporter for the processed food and beverage sector.

DoST finds 82% of honey on sale in PHL to be...

RESEARCHERS affiliated with the Department of Science and Technology (DoST) have found that about 82% of honey products sold in the Philippines are actually sugar or corn syrups.

Shares to rise on improved investor confidence

PHILIPPINE shares are expected to be off a good start this trading week as investor sentiment got a boost from the central bank’s recent survey showing improving confidence of consumers and businesses despite the coronavirus disease 2019 (COVID-19) pandemic.

Nationwide round-up (12/13/20)

MORE skill training centers have been allowed in areas under a general lockdown to address unemployment amid a coronavirus pandemic, according to the Trade department.

Del Monte Pacific turns around to net profit in three months...

DEL MONTE Pacific Ltd. (DMPL) said attributable net profit was $21.9 million in the three months to October, turning around from a year-earlier loss...

SEC warns public against investment schemes offered by Cubebit 2.0, Alisurvey

THE Securities and Exchange Commission (SEC) warned the public against investment schemes run by Cubebit 2.0 and Alisurvey Advertisement Marketing Services, which it said...

PHL metallic mineral output drops 4.75% in first nine months

METALLIC mineral production in the first nine months fell 4.75% year-on-year to P94.99 billion due to disruptions caused by the pandemic and the resulting...

Fruitas launches own milk brand under Babot’s Farm

FOOD AND BEVERAGE kiosk operator Fruitas Holdings, Inc. is continuing to expand, with the company introducing its own milk line under the Babot’s Farm brand.

Axelum Resources ramps up coconut milk powder output

COCONUT EXPORTER Axelum Resources Corp. has strengthened its coconut milk powder production after projecting the segment will be vital to its future plans.

PSEi rebounds as Congress ratifies 2021 budget

SHARES recovered on Thursday as market sentiment improved on the back of progress in the country’s 2021 national budget.

BFAR confident P500-M stimulus package will help aquaculture raise production

THE Bureau of Fisheries and Aquatic Resources (BFAR) said the P500 million worth of stimulus funds allocated to the fishing industry will support mainly aquaculture and will help the entire sector raise output levels.

Agricultural workforce average age of 57 seen as threat to food...

AGRARIAN REFORM Secretary John R. Castriciones said farmers need to encourage their children to take up agricultural courses to lower the average age of the farming workforce.

Century Pacific extends contract with Vita Coco

FOOD manufacturer Century Pacific Food, Inc. (CNPF) has extended its long-term agreement with coconut water brand Vita Coco.

Jollibee opens third store in the United Kingdom

JOLLIBEE FOODS Corp. (JFC) has opened its third store in the United Kingdom as part of the company’s plans to expand its global footprint.

Mabuhay Vinyl signs P160-M loan agreement with Philippine Resins Industries

MABUHAY VINYL Corp. (MVC) has entered into a loan agreement worth P160 million with Philippine Resins Industries, Inc. (PRII) in effort by both companies to improve the utilization of their resources.

Stocks drop on profit taking, economic outlook

SHARES ended in negative territory on Wednesday as investors booked profits and as market sentiment was affected by the revised gross domestic product (GDP) forecast of the World Bank for the Philippines.

Shares to move sideways on US-China tensions

PHILIPPINE SHARES are expected to go sideways after a one-day trading break as investors will assess the impact of renewed tensions between the United States and China on the market.

Regional Updates (12/08/20)

THE Metro Rail Transit Line 3 (MRT-3) further increased its speed to 60 kilometers per hour (kph) starting Dec. 1, reducing the average time between trains to four minutes from the previous five minutes at 50kph, the Transportation department said on Tuesday.

Farmers’ association calls cash-assistance bill a departure from rice competitiveness goals

SENATE BILL (SB) 1927, or the proposed Cash Assistance for Filipino Farmers Act of 2020 runs counter to the original intent of Republic Act (RA) No. 11203 or the Rice Tariffication Law, which was to fund competitiveness initiatives for the rice industry, a farmers’ organization said.

Agrarian reform dep’t partners with DHSUD, Bellavita Land for farmers’ housing...

AGRARIAN reform beneficiaries will soon have their own houses after the government partnered with an Ayala-led property developer.

PSEi rises to 7,200 level on optimism over vaccine

SHARES bounced back on Monday as investor optimism was sparked by the impending rollout of a coronavirus disease 2019 (COVID-19) vaccine and stronger foreign inflows.