PHL loses No. 2 spot for banana exporters
G
UATEMALA dislodged the Philippines as the world’s second-largest exporter of bananas last year, ending the Asian country’s four-year reign as it struggled to keep its share in key markets amid stiffer competition from Latin American producers. The United Nations’ Food and Agriculture Organization (FAO) estimated that Guatemala exported a total of 2.467 million metric tons (MMT) of bananas last year, surpassing the Philippines’s 2.235 MMT. The FAO explained that banana production in the Philippines continued to fall as growers
ROTARY CLUB OF MANILA JOURNALISM AWARDS
2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year 2021 Pro Patria Award PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion
‘SAMPUNG NATATANGING KASAMBAHAY NG PILIPINAS’ The winners
of the search for the country’s best domestic workers pose with senators after being feted during the 10th anniversary of Republic Act 10361, or the Domestic Workers Act or Batas Kasambahay. The law’s author, Sen. Jinggoy Estrada, gave out the awards as head of the Senate’s Labor panel. He was joined by Senators Cynthia Villar, Francis Tolentino, Robin Padilla and Ronald Dela Rosa, and Labor Secretary Bienvenido Laguesma. The awardees are Luzviminda Alvarado (Albay), Jessa Bation (Iligan City), Mercedita Gaballo (Zamboanga City), Grace Gentapa (Davao), Eda Longanilla (Koronadal City), Meralyn Madria (CDO), Virginia Magay (Makati City), Irma Pamposa (Pampanga), Emilia Rodriguez (San Juan) and Aida Rosales (Talisay City). ROY DOMINGO
struggled to address and curb the “devastating” spread of Banana Fusarium Wilt Tropical Race 4 (TR4) disease. Furthermore, FAO pointed out that Filipino banana growers suffered a double whammy since they also reeled from “high costs of inputs and fertilizers” last year. “Both developments are reportedly having a particularly detrimental effect on smallscale banana producers in the Philippines, who are struggling to procure the necessary agricultural inputs to meet the quality C A
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Thursday, January 26, 2023 Vol. 18 No. 103
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FARM OUTPUT SHRINKS PSA keeps GDP growth at 7.6% in 3rd quarter
B J E Y. A @jearcalas
THE Philippines’s farm output last year was reduced by 0.1 percent on an annual basis to P1.75 trillion at constant 2018 prices as better livestock and poultry productions offset contractions in crops and fisheries. The value of the country’s agricultural output last year was P1.935 billion lower than the P1.758 trillion recorded amount in 2021, according to the latest report of the Philippine Statistics Authority (PSA). PSA data showed that this is now the third consecutive year that the country’s agricultural sector contracted. However, this was also the closest performance of the agricultural sector in reaching a positive growth following the 1.7-percent and 1.2-percent contractions in 2021 and 2020, respectively. The last time farm output grew was in 2019 at a rate of merely 0.3 percent, based on historical PSA data. Growth in the livestock and poultry subsectors, the data also showed, buoyed the overall performance of the agricultural sector as output of crops and fisheries declined year-on-year. PSA data showed that livestock output grew by 1.9 percent on an annual basis, the first time in four years that it recorded a positive performance since the devastation caused by African swine fever (ASF) in domestic hog farms. Meanwhile, the poultry industry rebounded with 7-percent growth after contracting by 0.3 percent and 3.5 percent in 2021 and 2020, respectively. The crop subsector fell by 1 percent on an annual basis due to the impact of typhoons on farms and reduced application of planting inputs by farmers because of higher than usual costs. The fisheries subsector, meanwhile, declined by 5 C A
B C U. O @caiordinario
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ROTC IN FOCUS, AGAIN Students and youth groups stage a protest rally in front of the Senate on Wednesday, January 25, 2023, in Pasay City against a bill authored by Senator Ronald Dela Rosa making ROTC (Reserve Officers’ Training Corps) a mandatory requirement for students in higher educational institutions. Several senators expressed support for the Dela Rosa initiative. Story on page A2. ROY DOMINGO
ESPITE upward adjustments made on the growth of certain sectors such as real estate and the financial sectors, the Philippine Statistics Authority (PSA) maintained GDP growth at 7.6 percent in the third quarter of 2022. The PSA upgraded its growth estimates of real estate and ownership of dwellings to 3.6 percent from 3.1 percent; financial and insurance activities to 7.9 percent from 7.7 percent; and manufacturing to 3.8 percent from 3.6 percent. The data also showed the growth rate of Net Primary Income (NPI) from the Rest of the World recorded an upward revision from 94.6 percent to 95.1 percent. PSA said the Gross National Income (GNI) in the third quarter of 2022 remained at 10.5 percent. Making GDP revisions, PSA said, are part of the tasks of the agency. This is based on an approved revision policy in PSA Board Resolution No. 1, Series of 2017-053. PSA gave assurances that their C A
NO CHOICE BUT WESM FOR MERALCO, FOR NOW B L L @llectura
T
HE Manila Electric Company (Meralco) will start sourcing from the Wholesale Electricity Spot Market (WESM) the 670-megawatt (MW) capacity covered by its power supply agreement (PSA) with South Premiere Power Corporation (SPPC) that was covered by a Court of Appeals-issued Temporary Restraining Order (TRO). On Wednesday evening, the utility firm said, “starting tomorrow, January 26, Meralco will source from the WESM.” The contract capacity of SPPC was partially replaced by Meralco’s 300-MW emergency PSA (EPSA) with Aboitiz-led GNPower Din-
ginin Ltd. (GNPD), which expired on January 25. Meralco had asked GNPD to extend the term of the EPSA, but Meralco did not receive an offer for an extension. “No offer from them,” Meralco First Vice President Jose Ronald Valles confirmed in a text message at 5 p.m. Aboitiz confirmed the end of the 30-day EPSA with Meralco. Under the EPSA, the 300MW power was derived from the new 1,336MW GNPower Dinginin Plant in Mariveles, Bataan with a fi xed price of P5.95 per kilowatt hour. “We remain grateful for the opportunity to contribute to the delivery of a much-needed energy supply covering the Meralco franchise. In the event that Meralco
launches another competitive selection process [CSP], where the terms of reference will be reasonable, Aboitiz Power will certainly participate,” Aboitiz said. Valles said the expired EPSA lessened Meralco’s exposure to the WESM and, in turn, partly shielded its customers from volatile and potentially higher generation costs. “[Meralco] has no other choice but WESM,” added Valles. Meralco is also closely working with the Department of Energy (DOE) and all relevant industry players to ensure adequate supply and protect its customers from volatile and higher WESM prices. As early as December 2022, Meralco started the CSP for adS “WESM,” A
PESO EXCHANGE RATES US 54.5210 ■ JAPAN 0.4189 ■ UK 67.2353 ■ HK 6.9634 ■ SINGAPORE 41.3194 ■ AUSTRALIA 38.4209 ■ SAUDI ARABIA 14.5226 ■ EU 59.3679 ■ KOREA 0.0442 ■ CHINA 8.0488
Source: BSP (January 25, 2023)