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Philippines Today

Philippines Today

Front Page 06.18.14

Published in Front Page

Recipe of the week 06.18.14

Published in Gourmet

Playing with numbers

Published in Editorial & Other Articles
The Philippines unemployment rate for April 2014 has eased to 7.0 percent from April 2013’s unemployment rate of 7.6 percent, and April 2012’s 7.5 percent, according to the latest Labor Force Survey (LFS) of the Philippine Statistics Authority (PSA). In that report, highest number of unemployed population in April was in Metro Manila with unemployment rate of 10.4 percent and this is followed by Ilocos Region with 9.2 percent unemployment rate; Central Luzon with 8.6 percent unemployment rate; and Calabarzon with 9.0 percent unemployment rate.
 
The same report stated that majority or 61.7 percent of the total unemployed persons in April were male and the remaining 38.3 percent were unemployed women. In terms of age group, ages 15 to 24 years old contributed 49.8 percent of the total unemployed population in April followed by ages 25 to 34 years old at 30.5 percent. “By educational attainment, one-fifth or 22.4 percent of the unemployed were college graduates, 14.5 percent were college undergraduates, and 32.7 percent were high school graduates,” PSA added.

SRA diverts 90,000 MT world market sugar to domestic use

Published in Business
QUEZON CITY -- The Sugar Regulatory Administration (SRA) has converted the outstanding stocks of world market sugar to domestic market sugar to arrest the increase of sugar prices in the country and provide enough buffer stocks at the end of the crop year.
SRA Administrator Maria Regina Bautista-Martin  said the agency has implemented the policy after due consultation with sugar stakeholders such as the sugar millers, traders and planters federations/associations.
She assured that all stakeholders will get their fair share of the benefits from the conversion program at their discretion.
This will allow "free market forces to prevail in the marketing of sugar," she added.
Martin said that SRA will not intervene in the negotiation process between the sugar producers (millers and planters) and the sugar traders.
Certificates of conversion rights will be issued by SRA to the sugar mills and planters associations based on verified world market sugar figures, she said.
 
As of May 25, total sugar supply is a bit higher than the previous crop year. However, domestic consumption for raw and refined sugar increased by 1.02 percent and 10.66 percent, respectively, while both exports of raw sugar to the US quota and world market climbed by 22 percent and 33 percent, respectively.
Martin said the consumption figures manifested the real sugar demand figures of the domestic market which is the outcome of the joint efforts of the government (the Bureau of Customs in coordination with SRA), and the Sugar Alliance of the Philippines in curbing sugar smuggling.

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