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Philippine farmers reported that farmgate palay prices have fallen 23% from their September peak of P22.88 per kg. Traders are reluctant to buy because they hold expensive inventory bought before the government allowed cheaper imports under a 35% tariff.
Heavy imported supply and stalled local buying point to further downward pressure on Philippine rice prices as the harvest begins.
bworldonline.comCEDTyCleaAug 8, 2019After 100 past bearish policy events, Rough Rice moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.6%), and +0.1% 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.
