Agriculture Secretary Francisco Tiu Laurel Jr. said he "hopes" the lifting of the India export ban would "signal" the lowering of rice prices in the global market.
Department of Agriculture spokesperson and assistant secretary Arnel de Mesa said the return of Indian non-Basmati white rice to the world market would boost available grains for trade globally.
The additional stocks, De Mesa pointed out, could ease the supply pressure in the world market and "create an impact" toward lowering world prices of rice.
Last weekend, India lifted its export ban on non-Basmati rice to prevent oversupply as the country's grain stocks surged recently.
The export ban has been in place since July 2023 as India sought to protect its domestic consumers by shoring up rice stocks to ensure stable retail prices amid concerns in local production and uncertainties in global market and supplies.
Bu hikaye The Philippine Star dergisinin October 01, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Philippine Star dergisinin October 01, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Phl lags in 5G performance in AsPac
The Philippines remains one of the worst countries for 5G access in Asia Pacific, making it challenging for consumers to load their games and videos in high quality.
MVP: 5G phones soon to be more affordable
PLDT Inc.boss Manuel V.Pangilinan sees the price of 5Gcapable phones going down, but said more work needs to be done to expand 5G usage among Filipinos.
Prime Infra unit tapped for Clark waste services
Clark Development Corp.(CDC) has named Prime Waste Solutions Pampanga Inc. (PWS Pampanga) its newly accredited lone service provider authorized to handle collection of residual waste within the Clark Freeport and Special Economic Zone.
PAL boosting flights to Australia
Flag carrier Philippine Airlines (PAL) is expanding its flight volume to one of the largest cities in Australia, recognizing the urgency to add more options as demand picks up pace.
Global rice prices to ease as India lifts export ban
Government officials and industry stakeholders are hopeful prices of rice in the world market would begin to soften after India lifted its export ban on nonBasmati rice, leading to more favorable rice import prices for the Philippines.
Credit card complaints rise in Q2
The number of credit cardrelated complaints in the Philippines jumped by 45 percent to 4,161 in the second quarter this year from the previous quarter, driven primarily by concerns over account management.
QC inks housing deal with 8990
Listed affordable housing developer 8990 Holdings Inc.has entered into a housing deal with the Quezon City government to provide 2,700 homes to local government employees and informal settlers.
Buskowitz Energy gets fresh $100-M funding
Solar power firm Buskowitz Energy Inc.
BSP chief: There is scope to cut rates by 50 bps in one meeting
The Bangko Sentral ng Pilipinas could slash key interest rates by as much as 50 basis points in a single move, but the BSP would have to see risks of a hard landing before considering doing so.
Profit-taking drags down stocks anew
A fresh round of profit-taking dragged share prices down to start the week as investors continued to cash in on their gains.