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The Philippines is expected to have weaker agricultural output in the third quarter, with typhoons, monsoon flooding, El Niño and high fuel prices cited as causes. The former agriculture secretary says El Niño has already affected almost P9 billion of farm goods.
Weaker domestic output could increase Philippine import demand for rice and push local food prices higher, supporting rice prices.
After 179 past bullish weather events, Rough Rice moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.5%), and +2.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.