NFA poised to surpass H1 rice procurement target of over 3M 50-kilo bags of palay...

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NFA poised to surpass H1 rice procurement target of over 3M 50-kilo bags of palay; Mixed oil price movement expected next week;  GSIS launches digital ID; PSA says PH manufacturing sector PPI recorded slower annual decline in April

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00:00The National Food Security, or NFA, is poised to surpass its purchasing target of over 3,050,000

00:05kilobags of palay for the first half of the year. Listen to other stories in tonight's Business News

00:11Wrap-Up. The National Food Authority, or NFA, will most likely surpass its first-half procurement

00:20of 3,08,050,000 kilobags of palay after the NFA Council decided to increase its buying price

00:27for rice. NFA Acting Administrator Larry Laxson said that the agency is currently at 97 percent

00:34of its buying target for the first half of the year, with a whole month of June still left.

00:39Furthermore, he said that farmers from northern Luzon have yet to complete their harvest.

00:44That's why they appealed for the continuation of the agency's procurement of the staple grain.

00:50The Department of Energy, or DOE, says that gasoline prices may go down,

00:54while diesel and kerosene prices may go up in the first week of June.

00:58DOE says gasoline may decrease by 60 centavos to 90 centavos per liter, while diesel may increase

01:05by 40 centavos to 60 centavos per liter and kerosene by 75 centavos to 90 centavos per liter.

01:13The Energy Department explained that the OPEC Plus decision to impose production cut,

01:17the seasonal spike in demand due to the upcoming summer season,

01:20will possibly affect price movements in fuel products.

01:25The Government Service Insurance System, or GSIS,

01:27during its 87th anniversary celebration launched its digital ID.

01:32GSIS President and General Manager Wick Veloso says that the agency continues to take steps to

01:37make it more safe for government workers to transact with them. Also, the digital ID,

01:43he says, will allow GSIS members and pensioners to access the agency's services through their

01:48smartphones. The Philippine Statistics Authority said that the country's producer price index of

01:54the manufacturing sector recorded a slower annual decline of 0.8% in April. The figure

02:00is lower year-on-year compared to 1.1% reported in March of this year.

02:05This is Monique Tuzon from the Nation's TV Network for a new and better Philippines.

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