Monday, November 02, 2009

Commodities Trading in the Philippines

Probably indicates that the Philippines market is improving. On the news today, the Philippine Stock Exchange plans to introduce a platform for the spot trading of commodities like rice, corn, sugar and coconut to help boost transparency in the pricing of the country’s key farm produce while offering an alternative outlet to investors.

Many people are looking forward to this changes. Many hopes that transparency on prices of commodities would benefit the public, but a few are worried that it could also be used to speculate on commodities prices. Remember - we have the so-called "rice cartel" controlled by Chinese businessmen.

But, let us wait and see.

Here is more about that news;

The PSE signed a partnership with the Department of Agriculture Friday night to lay the foundation for such a commodities trading platform. Under the agreement, the DA will support the enactment of laws, rules and regulations and circulars necessary to create an enabling environment for an organized commodity market for agricultural products.

The ultimate goal is to come up with a trading system that will link Filipino agriculture farmers to profitable markets for their products.

The PSE wants to set up the platform the soonest time possible.

“We believe that an organized commodities exchange in the Philippines can help relieve the pressure on commodity prices. If we can establish more transparency in pricing, the players in the food supply chain will face fairer prices,” PSE president Francis Lim said during the signing with Agriculture Secretary Arthur Yap.

“Price transparency allows our farmers to get better prices for their produce as intermediation costs are reduced. Traders, end-users and consumers will also benefit as prices shall now be determined at the national level, unlike in the present scenario where price discovery can be limited to local geographic areas,” Lim added.

But unlike most commodities exchanges across the globe, Lim said the Philippines may start with trading based on spot or real-time prices rather than futures, whereby investors buy contracts at a specified price with delivery set at a specified future date.


On another news. Indeed, the Clinton times in the White House were among those times remembered by most - including the Monica L affair, lolz. Several years later - people in Albania remembered him - not just for a moment but for a much longer time - with a statue.

Thousands of ethnic Albanians braved low temperatures and a cold wind in Kosovo's capital Pristina to welcome former President Bill Clinton on Sunday as he attended the unveiling of an 11-foot (3.5-meter) statue of himself on a key boulevard that also bears his name.

Clinton is celebrated as a hero by Kosovo's ethnic Albanian majority for launching NATO's bombing campaign against Yugoslavia in 1999 that stopped the brutal Serb forces' crackdown on independence-seeking ethnic Albanians.

This is his first visit to Kosovo since it declared independence from Serbia last year.