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Local rice still cheaper despite EO 62
By J.Lo
"Retail price of local rice is still lower…before EO 62 takes effect, let us give it some time imported rice is released and distributed," Department of Agriculture (DA)Assistant Secretary and spokesman Arnel de Mesa said retail price of local rice remains cheaper compared to those of imported grains despite implementation of Executive Order 62 on lower tariff on imported rice after EO took effect on July 7.
At press conference De Mesa said retail price of local well-milled rice was pegged at P45 per kilo compared to imported well-milled rice at P51 per kilo.
EO 62 reduced tariff on imported rice to 15 percent from 35 percent.
Based on monitoring of DA in Metro Manila markets, retail price of local regular milled rice ranged between P45 and P50 per kilo; local well-milled rice, between P48 and 55 per kilo; local premium rice, between P50 and P58 per kilo and local special rice, between P57 and P65 per kilo.
Imported regular milled rice price ranged between P46 and P51 per kilo; imported well-milled rice, between P51 and P55 per kilo; imported premium rice, between P52 and P60 and imported special rice, between P55 and P65 per kilo.
Amid this development, National Food Authority (NFA) will continue to procure palay after farmers complained of P5-per-kilo drop in its farmgate price because of EO 62, according to De Mesa.
"On the part of DA, we continue to buy palay from farmers. NFA procures palay at high price and, according to the secretary, Council will adjust accordingly and we are seeking additional budget for NFA for this purpose," he stressed, referring to Agriculture Secretary Francisco Tiu Laurel Jr.
Former DA secretary Leonardo Montemayor has warned of further slump in buying price of palay during main harvest season in the last quarter of the year.
With P5-per-kilo drop in farmgate price of palay, farmers are suffering losses, according to Montemayor.
Farmers' groups have asked Supreme Court to issue temporary restraining order against EO 62 as they asked that order be declared unconstitutional.
In another development, temporary import ban on onions would be extended until end of next month as current stocks remain ample to meet domestic demand, Tiu Laurel said.
The agriculture chief stressed DA would extend import ban on monthly basis based on movement of supplies and demand in the market.
This is now the second extension of import ban on red onion, which started in January.
Initially, ban would have been lifted by May, but it was extended until this month due to bumper harvest in the first half of the year, resulting in overflowing stocks in cold storages.
"We are monitoring everything closely, day-to-day…as of the moment, we really do not need to import," Tiu Laurel said.
The agriculture chief is cautious that pronouncements on extending import ban could encourage unscrupulous traders to slow down release of their stocks from cold storage, thus jacking up market prices.
Tiu Laurel, however, warned unscrupulous onion traders who attempt to tighten release of their stocks to make killing, that he would not hesitate to allow onion imports to stabilize market prices.
The country usually imports deficit in its onion production to meet overall demand and keep prices stable.
Cold storages are brimming with red onion stocks, holding over 150,000 metric tons (MT) as of July 5, based on latest government monitoring report.
Supplies , all locally produced, are projected to last for 261 days or until March 23 next year.
Meanwhile, yellow onion stocks of about 10,600 MT would last for 72 days or until Sept. 15, according to government report.
Combined red and yellow onion supplies will last for 223 days or until the middle of February next year.
Retail prices of locally produced red and yellow onions in Metro Manila markets have been stable since start of the year.
Red onion prices range from P80 per kilo to P150 per kilo, while yellow onions fetch P80 per kilo to P130 per kilo, based on the latest DA price monitoring report.
MVPO 2024: Fortifying relationships through sportsmanship and camaraderie
Besides being a prominent figure in the Philippine business industry, Manny V. Pangilinan, known to many as MVP, is recognized for his bonafide support of the country's sports scene. He established the MVP Sports Foundation Inc. (MVPSF) in 2011, a non-profit organization that is dedicated to empowering local athletes by providing them opportunities to better their skills and compete in various tournaments. Moreover, it also aims to pave the way for Filipino athletes to successfully obtain medals in worldwide sports competitions, the most prestigious of which is the Olympics.
MVP's love for sports and MVPSF's vision are shown in a way that connects all of his companies, and that is through the MVPO– an athletic event where employees from the MVP Group of Companies gain the same relentless spirit and drive through various sports competitions and talent events.
Precision on Point. MPTC exhibits extensive game knowledge and team collaboration in the Billiards - Doubles category. All photos from MVPO
What is MVPO?
Since 2010, the annual sports event has championed the Filipinos' burning passion and commitment towards athleticism. It remains steadfast in promoting camaraderie among the MVP Group of Companies, temporarily setting aside work rivalry and biases to strengthen one communal bond.
With the theme "Tuloy ang Alab, Tuloy ang Laban," 10 corporations have begun their relentless quest for victory this year, showcasing their excellence not only in the market but also inside the playing field. MVPO 2024 features Meralco, PLDT, Metro Pacific Tollways Corp., Maynilad, Metro Pacific Health, Smart/Maya, First Pacific Leadership Academy, Philex Mining, Media Quest, and Metro Pacific Investments to complete all 26 exciting competitions.
The athletic event is an ongoing activity, which kicked off last May 17, 2024, at the Meralco Grounds. Starting with a series of fun and easy-level games, the participating teams brought out their inner competitiveness in the human hamster race, group sack race, executive egg toss, and wooden ski race. This served as a warm-up stage for several individual and group sports tournaments, such as badminton, basketball, billiards, bowling, chess, crossfit, dancesport, darts, golf, eSports, fun run, table tennis, tennis, track and field, obstacle course racing, and volleyball. There also is an ultimate frisbee event.
Some competitions are arts and performance-based, with the addition of executive cosplay, battle of the bands, broadway musical, Ms. MVPO, and street dance.
Now on its third leg, MVPO 2024 has dedicated the whole month of July for badminton, darts, and tennis, and is set to conclude in October.
MVP's care towards his employees appears to transcend office matters, prioritizing everyone's overall well-being. Through MVPO 2024, the employees get to take a break from work, have a healthy body, and most importantly, develop a deeper level of connection with their officemates.
Aside from the fitness benefits, the athletic gathering promotes trust and open communication to establish an efficient working system and rise through the ranks. Signing up for games, solo or team, allows employees to get to know one another and encourages friendly competition that can even stretch from the playing ground to the workplace.
This blurs out the division between companies, building a rich culture of collaboration and respect for each representative. In fact, it is important to note that MVPO also plays a pivotal role in honing the employees' character and motivation level to perform through the years.
MVPSF President Al Panlilio said, "The MVP Sports Foundation is often related to our support of our elite athletes. We're proud to be a part of the Olympic journey of many athletes heading to Paris 2024."
"However, our mission is more than that. While we aim to empower Filipino athletes from the grassroots and help them progress, we also want everyone to participate in sports because this supports personal development and helps create a culture of sportsmanship and winning. This is aligned with the vision of MVP for his employees to have a healthy lifestyle. This is why the MVPO is an important banner under our organization. It uplifts the competitiveness of the participants while also strengthening the unity of our people," he added.
What is the participating teams' current standing?
As of writing, Meralco sits comfortably on top, with six gold medals, two silver, and one bronze to register 38 overall points from its recent back-to-back wins in Street Dance and Battle of the Bands competition. However, nothing is set in stone yet for the electricity provider, as PLDT stays close with 36 points—only two markers behind the leading team.
With two gold, six silver, and four bronze medals, PLDT is consistent in its appearance as a podium finisher across 12 game departments, such as chess, billiards, golf, and bowling. Metro Pacific Tollways Corp. also followed suit to secure the third spot with 25 points, while Maynilad dominated the executive cosplay to earn 21 points.
Metro Pacific Health has two golds and one bronze under its belt at fifth. Conversely, completing the bottom half teams are Smart/Maya First Pacific Leadership Academy, Philex Mining, Media Quest, and Metro Pacific Investments.
MVPO 2024 is far from being over and has several games to offer. Thus, the current standing still can be shaken up, giving the losing teams the prospect to redeem themselves and turn it around.
While this may seem trivial to others, the athletic event is an extension of MVP himself and signifies his overflowing love for sports and his people. Through it, his employees absorb the same characteristics, allowing them to build healthy relationships.
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