{"id":133322,"date":"2018-09-07T10:23:52","date_gmt":"2018-09-07T14:23:52","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=133322"},"modified":"2018-09-07T06:24:48","modified_gmt":"2018-09-07T10:24:48","slug":"rice-analysis-rising-philippines-rice-imports-bullish-for-rice-price","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/rice-analysis-rising-philippines-rice-imports-bullish-for-rice-price\/","title":{"rendered":"RICE Analysis – Rising Philippines rice imports bullish for rice price"},"content":{"rendered":"
September 7, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

Rising Philippines rice imports bullish for rice price<\/strong><\/p>\n

Philippines is boosting rice imports to curb rising price of the food staple in internal markets. Will the rice price<\/a> continue rising?<\/p><\/blockquote>\n

The Philippines legislature has started deliberations to replace rice import limits with a system of tariffs as the government wants to increase the import of the grain to stem the rising of the rice price in internal markets. The change may double country\u2019s rice imports to 3 million tons a year, making the nation the world\u2019s No.2 buyer after China. And Philippines National Food Authority (NFA) Council, the policy making body of the NFA, approved on September 4 the additional importation of 250,000 metric tons of rice to arrive in November 2018. Increased imports from world\u2019s second largest buyer of rice are bullish for rice price.<\/p>\n

\"Rice<\/p>\n

On the daily timeframe the RICE: D1<\/b> has been rising after hitting 3-month low in mid-August. It is rising toward the 50-day moving average MA(50).<\/p>\n