BOC collection from rice imports up 22% in 2021 By CHINO S. LEYCO Government collection of duties from imported rice jumped 22 percent to P18.9 billion in 2021, but it incurred foregone revenues on pork tariff cuts, the Department of Finance (DOF) said. Citing reports from the Bureau of Customs,...
Trade deficit ballooned last year as Philippine purchases of goods from abroad outpaced the rise in sales of locally-made products following the further reopening of the economy from quarantine restrictions. The Philippine Statistics Authority (PSA) reported on Thursday, Jan. 27, that the...
The country's trade deficit widened to a new record high in November last year as Philippine purchases of goods from abroad accelerated following the further reopening of the economy from quarantine restrictions. The Philippine Statistics Authority (PSA) reported on Tuesday, Jan. 11, that the...
The Department of Finance (DOF) urged authorities to be “more liberal” with importations after prices of meat and fish rose at a much faster pace in November compared with the previous month. In an Economic Bulletin on Monday, Dec. 13, Finance Chief Economist Gil S. Beltran noted that meat...
The country’s total agricultural trade reached $5.93 billion during the third quarter of this year, increasing at an annual rate of 14.8 percent amid the continuously increasing imports. Data from the Philippine Statistics Authority (PSA) showed that during the third quarter of 2021, agricultural...
The country’s rice imports will end up higher than earlier expected at 2.6 million metric tons (MT), making the country still one of the top rice importers in the world. Based on the latest report of the United States Department of Agriculture's (USDA) Foreign Agricultural Service (FAS), the...
Philippine fruit importation has grown substantially and is seen to further rise with more Filipinos incorporating healthy food into their diet amid the prevalence of the COVID-19 pandemic. In its latest report, the United States Department of Agriculture’s (USDA) Foreign Agricultural Service...
Amid the continuous entry of imported chicken into the country and the threat of local raisers to cut their production, the Philippines' chicken output during the first nine months of the year went down by 1.4 percent to 425,890 metric tons (MT) liveweight. Data from the Philippine Statistics...
Poultry raisers threaten to cut down production By Madelaine B. Miraflor A group of local poultry raisers has threatened to cut down their production if the government will not act on the crisis they are currently experiencing brought about by low demand, high production cost, and high levels of...
The Philippine government was told to stop the flooding of pork imports which has been negatively affecting the local hog sector. During the ‘Halalan 2022 Para sa Agrikultura’ virtual forum hosted by the Philippine Chamber of Agriculture and Food Inc. (PCAFI), Senator Francis Pangilinan and...
The country's goods purchases from abroad rose at a much faster pace than the sales of Philippine-made goods overseas, bringing the nation’s trade deficit in September to its widest in nearly three years. The Philippine Statistics Authority reported on Friday, Nov. 5, that expenditures for...
Philippine Association of Feed Millers Inc. (PAFMI) sees importation as a band aid solution or the “the best route to take” at the moment as Severe Tropical Storm Maring destroyed a significant amount of corn output. Otherwise, consumers will have to deal with an increase in the price of animal...
