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DROUGHT MAY STRIKE 65 PROVINCES–DOST www.businessmirror.com.ph
n Wednesday, December 13, 2023 Vol. 19 No. 63
P25.00 nationwide | 2 sections 24 pages | 7 DAYS A WEEK
By Samuel P. Medenilla @sam_medenilla
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S 65 out of the country’s 82 provinces are projected to suffer drought in the coming months due to El Niño, the government has updated its mitigation measures to cope with the projected lower rainfall next year, according to the Department of Science and Technology (DOST). The DOST said the number of drought-affected provinces could reach 65 by May 2024. The agency noted that majority of global climate models suggest that El Niño will likely persist until the second quarter of next year. “Based on recent conditions, moderate to severe drought conditions are likely from February to May 2024. And by the end of May, 77 percent of the provinces of the country will have potential for drought—that would be around 65 provinces,” DOST Secretary Renato U. Solidum said in a press briefing in Malacañang last Tuesday. “We need to further intensify our efforts to make sure that we are ready for this especially on the various fields that were See “Drought,” A2
GREEN ACTIVISM MEETS GEOPOLITICS At the COP28 UN Climate Summit in Dubai on December 8, 2023, poignant signs reading “stop war” and “go green” catch the attention of passersby, encapsulating the intersection of environmental and geopolitical concerns. The unsettling reality that militaries globally contribute 5.5 percent of all greenhouse gas emissions, as highlighted by the Conflict and Environment Observatory and Scientists for Global Responsibility, adds a layer of complexity to the climate discourse. Notably, these military emissions remain unchecked, as there are no obligations for reporting or reduction. Climate activists, aligning with the calls for a ceasefire and justice for Palestinians, have woven these narratives into their protests at the UN talks. Their perspective revolves around the concept of climate justice, contending that the quest to save the planet from escalating temperatures is intricately linked with the pursuit of a fairer world, especially for the most vulnerable. They draw parallels between the environmental crisis and the plight of Palestinians living under Israeli occupation, asserting that both crises stem from the interplay of colonization and capitalism, emphasizing the need for collective action on multiple fronts. AP/RAFIQ MAQBOOL
GOVT TOLD TO REVISIT INDUSTRIAL POLICY AS OCT EXPORTS FALL 17% By Cai U. Ordinario @caiordinario
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HE cou nt r y ’s l ac kluster external trade performance in October 2023 reflected not only the challenges faced by the global economy but also the deep-seated issues stemming from the country’s industrial policy or lack thereof, according to local economists. On Tuesday, the Philippine Statistics Authority (PSA) disclosed that the country’s export earnings declined 17.5 percent, the largest contraction
in six months. The data also showed import receipts contracted 4.4 percent in October 2023, marking the 9th consecutive month that imports declined. “On the whole, it seems that the trade sector is at a standstill. An industrial policy aimed at promoting products with comparative advantage or at creating new products could have broken this impasse,” Ateneo de Manila University economist Leonardo Lanzona told the See “Exports,” A2
‘Allot excess rice tariffs for cash aid, crop insurance’ By Jasper Emmanuel Y. Arcalas @sam_medenilla
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ICE planters are assured of receiving at least P15.5 billion in excess tariff collection next year and pundits said this could be used to increase the state’s cash assistance and fund its crop insurance and diversification programs. The latest Bureau of Customs (BOC) data analyzed by the BusinessMirror showed that it has collected P25.55 billion in rice tariffs from January to November, 22.85 percent higher than the P20.798 billion it collected in the same period last year.
With the latest figures, the BOC tallied a new record high in terms of rice tariff collection since the national government liberalized the country’s rice trade regime through Republic Act 11203 in 2019. Publicly available BOC data showed t hat t he bureau collected more rice tariffs despite a 3.88-percent drop in total import volume during the 11-month period. BOC data indicated that the country imported 3.108 million metric tons (MMT) of rice from Ja nu a r y to November, some 125,000 MT lower than the 3.233 See “Rice tariffs,” A2
PESO EXCHANGE RATES n US 55.5980 n JAPAN 0.3804 n UK 69.8144 n HK 7.1235 n CHINA 7.7489 n SINGAPORE 41.3830 n AUSTRALIA 36.5001 n EU 59.8512 n KOREA 0.0423 n SAUDI ARABIA 14.8238 Source:
BSP (13 December 2023)