DA: Imported rice, fertilizer costlier for PHL as peso dips

After 43 past macro events, Rough Rice moved a median +0.5% over 5 sessions (56% higher; middle half -2.0% to +2.3%), and +1.6% over 20.

• Aug 9, 2017India rice shipments slow as stronger rupee lifts export prices | India rice shipments slow as stronger rupee lifts export prices+0.8%
• Jan 5, 2023Government sees inflation's peak as it misses target for second straight year | Philstar.com-0.2%
• Jun 1, 2020Rice: The Coronavirus-Proof Grain?+19.5%
• Mar 22, 2019Strong rupee pushes rice prices to seven-month high, dampening exports | Commodity - Food & Edible Oils - Business Standard-1.6%
• May 1, 2025Raw Rice-1.8%

After 92 past bullish macro events, Urea moved a median +0.0% over 5 sessions (50% higher; middle half -2.0% to +3.6%), and +4.8% over 20.

• May 11, 2022Fertilizer prices expected to remain higher for longer-0.8%
• Jan 10, 2022Why the cost of fertilizer is rising-8.8%
• Mar 17, 2026Morocco phosphate sector remains stable as global fertilizer costs rise+3.3%
• Jan 21, 2022The Fertilizer Crisis Is Getting Real for Europe Food Prices - Bloomberg0.0%
• Jul 16, 20245 Reasons Fertilizer Prices Are High Right Now - AgWeb+0.8%

After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.

• Jul 26, 2023The increase in the price of oil led to an increase in the prices of gas and nitrogen fertilizers+2.1%
• Jan 13, 2018Colombia peso boosted by weak dollar and rising oil prices - Colombia News-1.0%
• Mar 4, 2026FAO Food Price Index rises in March as Near East conflict raises energy costs+12.2%
• Mar 20, 2026Sterling dips as oil rises, still set for weekly gain on hawkish BoE | Reuters-0.5%
• Jun 18, 2021Goldman sees Fed-driven dip in commodities as a 'buying opportunity'+3.2%