{"id":8048,"date":"2023-09-14T10:24:49","date_gmt":"2023-09-14T10:24:49","guid":{"rendered":"https:\/\/ricenewstoday.com\/dev\/?p=8048"},"modified":"2023-09-14T10:24:50","modified_gmt":"2023-09-14T10:24:50","slug":"surging-rice-prices-batter-bonds-in-major-importer-philippines","status":"publish","type":"post","link":"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/","title":{"rendered":"Surging Rice Prices Batter Bonds in Major Importer Philippines"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Surging Rice Prices Batter Bonds in Major Importer Philippines<\/h2>\n\n\n\n

(Bloomberg) — The highest rice prices in 15 years are threatening to worsen inflation in the Philippines and pummel the nation\u2019s local bonds that are already underperforming regional peers this quarter.<\/p>\n\n\n\n

Investors have withdrawn $13 million from Philippine bond exchange-traded funds in the four weeks ended Sept. 8, after an inflow of nearly $9 million in the preceding one-month period. That\u2019s after inflation in August surged as India\u2019s rice export curbs pushed up purchase costs for the Philippines, which is one of the world\u2019s top buyers of the staple grain.<\/p>\n\n\n\n

A Bloomberg index of Philippine bonds handed dollar-based investors a loss of 2.3% this quarter, the worst returns in Southeast Asia. The bonds are being weighed as rice inflation in the nation increased at the fastest pace in almost five years in August. The Asian rice benchmark remains near the highest level since 2008, which increases the risk that Bangko Sentral ng Pilipinas may resume policy tightening after keeping rates on hold since March.<\/p>\n\n\n\n

\u201cHigher local rice prices, as well as higher global oil prices and storm damage on agriculture would be major variables on the inflation trend for the coming months,\u201d said Michael Ricafort, chief economist at Rizal Commercial Banking Corp., adding that \u201clocal currency bond markets will be honing in on local policy and Federal Reserve rate trajectory.\u201d<\/p>\n\n\n\n

The Philippine Stock Exchange Index has slid by 4.3% in the three months to September, and losses are seen extending amid concerns over a hawkish central bank. The Philippine peso is already the worst performing currency in Asia this quarter with a loss of more than 2.6% versus the greenback.<\/p>\n\n\n\n

BSP said last week it\u2019s prepared to resume monetary policy tightening, if needed, to combat inflation. The central bank\u2019s next rate decision is due Sept. 21. Bloomberg Economics sees room for a BSP rate hike at that meeting, economist Tamara Henderson wrote in a Sept. 5 note. However, the BSP governor cautioned on Thursday that rates may be held steady next week if there are no further supply shocks.<\/p>\n\n\n\n

While other emerging Asia central banks are not expected to recalibrate their policy stance in the face of high food prices, \u201cone central bank that warrants monitoring is the BSP which has repeatedly stressed that they are ready to act, if the need arises,\u201d said Sanjay Mathur, an economist with Australia & New Zealand Banking Group Ltd.<\/p>\n\n\n\n

Philippines is the most vulnerable to rising rice prices within Southeast Asia as the commodity makes up 8.9% of the nation\u2019s CPI basket, according to an Oversea-Chinese Banking Corp. note last week.<\/p>\n\n\n\n

–With assistance from Karl Lester M. Yap.<\/p>\n\n\n\n

(Updates prices in 5th paragraph and BSP governor comments in 6th paragraph.)<\/p>\n\n\n\n

Most Read from Bloomberg Businessweek<\/p>\n\n\n\n

<\/a><\/a><\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Surging Rice Prices Batter Bonds in Major Importer Philippines (Bloomberg) — The highest rice prices in 15 years are threatening to worsen inflation in the Philippines and pummel the nation\u2019s local bonds that are already underperforming regional peers this quarter. Investors have withdrawn $13 million from Philippine bond exchange-traded funds in the four weeks ended […]<\/p>\n","protected":false},"author":1,"featured_media":8049,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176],"tags":[159],"class_list":["post-8048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-global-rice-news"],"acf":{"enable_premium_overlay":false},"yoast_head":"\nSurging Rice Prices Batter Bonds in Major Importer Philippines - Rice News Today<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Surging Rice Prices Batter Bonds in Major Importer Philippines - Rice News Today\" \/>\n<meta property=\"og:description\" content=\"Surging Rice Prices Batter Bonds in Major Importer Philippines (Bloomberg) — The highest rice prices in 15 years are threatening to worsen inflation in the Philippines and pummel the nation\u2019s local bonds that are already underperforming regional peers this quarter. Investors have withdrawn $13 million from Philippine bond exchange-traded funds in the four weeks ended […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/\" \/>\n<meta property=\"og:site_name\" content=\"Rice News Today\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-14T10:24:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-14T10:24:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/image-77.png\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"560\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Developer Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Developer Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/\"},\"author\":{\"name\":\"Developer Team\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#\/schema\/person\/5bab6fa4a598696885d5615daac778dd\"},\"headline\":\"Surging Rice Prices Batter Bonds in Major Importer Philippines\",\"datePublished\":\"2023-09-14T10:24:49+00:00\",\"dateModified\":\"2023-09-14T10:24:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/\"},\"wordCount\":466,\"publisher\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#organization\"},\"image\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/image-77.png\",\"keywords\":[\"Global Rice News\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/\",\"url\":\"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/\",\"name\":\"Surging Rice Prices Batter Bonds in Major Importer Philippines - Rice News Today\",\"isPartOf\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/image-77.png\",\"datePublished\":\"2023-09-14T10:24:49+00:00\",\"dateModified\":\"2023-09-14T10:24:50+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/#primaryimage\",\"url\":\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/image-77.png\",\"contentUrl\":\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/image-77.png\",\"width\":960,\"height\":560},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ricenewstoday.com\/dev\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Surging Rice Prices Batter Bonds in Major Importer Philippines\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#website\",\"url\":\"https:\/\/ricenewstoday.com\/dev\/\",\"name\":\"Rice News Today\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ricenewstoday.com\/dev\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#organization\",\"name\":\"Rice News Today\",\"url\":\"https:\/\/ricenewstoday.com\/dev\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/11\/ricenews-share-og.png\",\"contentUrl\":\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/11\/ricenews-share-og.png\",\"width\":696,\"height\":696,\"caption\":\"Rice News Today\"},\"image\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#\/schema\/person\/5bab6fa4a598696885d5615daac778dd\",\"name\":\"Developer Team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ricenewstoday.com\/dev\/wp-content\/litespeed\/avatar\/7f4250de373ca51742ab7d6abe1e77b4.jpg?ver=1776378680\",\"contentUrl\":\"https:\/\/ricenewstoday.com\/dev\/wp-content\/litespeed\/avatar\/7f4250de373ca51742ab7d6abe1e77b4.jpg?ver=1776378680\",\"caption\":\"Developer Team\"},\"sameAs\":[\"https:\/\/ricenewstoday.com\/dev\"],\"url\":\"https:\/\/ricenewstoday.com\/dev\/author\/techwise\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Surging Rice Prices Batter Bonds in Major Importer Philippines - Rice News Today","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"Surging Rice Prices Batter Bonds in Major Importer Philippines - Rice News Today","og_description":"Surging Rice Prices Batter Bonds in Major Importer Philippines (Bloomberg) — The highest rice prices in 15 years are threatening to worsen inflation in the Philippines and pummel the nation\u2019s local bonds that are already underperforming regional peers this quarter. Investors have withdrawn $13 million from Philippine bond exchange-traded funds in the four weeks ended […]","og_url":"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/","og_site_name":"Rice News Today","article_published_time":"2023-09-14T10:24:49+00:00","article_modified_time":"2023-09-14T10:24:50+00:00","og_image":[{"width":960,"height":560,"url":"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/image-77.png","type":"image\/png"}],"author":"Developer Team","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Developer Team","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/#article","isPartOf":{"@id":"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/"},"author":{"name":"Developer Team","@id":"https:\/\/ricenewstoday.com\/dev\/#\/schema\/person\/5bab6fa4a598696885d5615daac778dd"},"headline":"Surging Rice Prices Batter Bonds in Major Importer Philippines","datePublished":"2023-09-14T10:24:49+00:00","dateModified":"2023-09-14T10:24:50+00:00","mainEntityOfPage":{"@id":"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/"},"wordCount":466,"publisher":{"@id":"https:\/\/ricenewstoday.com\/dev\/#organization"},"image":{"@id":"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/#primaryimage"},"thumbnailUrl":"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/image-77.png","keywords":["Global Rice News"],"articleSection":["News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/","url":"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/","name":"Surging Rice Prices Batter Bonds in Major Importer Philippines - Rice News Today","isPartOf":{"@id":"https:\/\/ricenewstoday.com\/dev\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/#primaryimage"},"image":{"@id":"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/#primaryimage"},"thumbnailUrl":"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/image-77.png","datePublished":"2023-09-14T10:24:49+00:00","dateModified":"2023-09-14T10:24:50+00:00","breadcrumb":{"@id":"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/#primaryimage","url":"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/image-77.png","contentUrl":"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/image-77.png","width":960,"height":560},{"@type":"BreadcrumbList","@id":"https:\/\/ricenewstoday.com\/dev\/surging-rice-prices-batter-bonds-in-major-importer-philippines\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ricenewstoday.com\/dev\/"},{"@type":"ListItem","position":2,"name":"Surging Rice Prices Batter Bonds in Major Importer Philippines"}]},{"@type":"WebSite","@id":"https:\/\/ricenewstoday.com\/dev\/#website","url":"https:\/\/ricenewstoday.com\/dev\/","name":"Rice News Today","description":"","publisher":{"@id":"https:\/\/ricenewstoday.com\/dev\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ricenewstoday.com\/dev\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ricenewstoday.com\/dev\/#organization","name":"Rice News Today","url":"https:\/\/ricenewstoday.com\/dev\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ricenewstoday.com\/dev\/#\/schema\/logo\/image\/","url":"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/11\/ricenews-share-og.png","contentUrl":"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/11\/ricenews-share-og.png","width":696,"height":696,"caption":"Rice News Today"},"image":{"@id":"https:\/\/ricenewstoday.com\/dev\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ricenewstoday.com\/dev\/#\/schema\/person\/5bab6fa4a598696885d5615daac778dd","name":"Developer Team","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ricenewstoday.com\/dev\/#\/schema\/person\/image\/","url":"https:\/\/ricenewstoday.com\/dev\/wp-content\/litespeed\/avatar\/7f4250de373ca51742ab7d6abe1e77b4.jpg?ver=1776378680","contentUrl":"https:\/\/ricenewstoday.com\/dev\/wp-content\/litespeed\/avatar\/7f4250de373ca51742ab7d6abe1e77b4.jpg?ver=1776378680","caption":"Developer Team"},"sameAs":["https:\/\/ricenewstoday.com\/dev"],"url":"https:\/\/ricenewstoday.com\/dev\/author\/techwise\/"}]}},"_links":{"self":[{"href":"https:\/\/ricenewstoday.com\/dev\/wp-json\/wp\/v2\/posts\/8048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ricenewstoday.com\/dev\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ricenewstoday.com\/dev\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ricenewstoday.com\/dev\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ricenewstoday.com\/dev\/wp-json\/wp\/v2\/comments?post=8048"}],"version-history":[{"count":0,"href":"https:\/\/ricenewstoday.com\/dev\/wp-json\/wp\/v2\/posts\/8048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ricenewstoday.com\/dev\/wp-json\/wp\/v2\/media\/8049"}],"wp:attachment":[{"href":"https:\/\/ricenewstoday.com\/dev\/wp-json\/wp\/v2\/media?parent=8048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ricenewstoday.com\/dev\/wp-json\/wp\/v2\/categories?post=8048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ricenewstoday.com\/dev\/wp-json\/wp\/v2\/tags?post=8048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}