Production of palay, or unhusked rice, in Western Visayas increased by 12.15 percent in the first semester of this year compared to the same period last year, Remelyn Recoter, director of the Department of Agriculture Region 6, said.
The palay production this year reached 753,832.24 metric tons compared to last year’s 672,152.53 MT, based on the report of the Philippine Statistics Authority.
Pawnshops’ income from
remittance operations rising
The income of pawnshops from remittance services continues to rise as more institutions tap pawnshops because of their wider reach compared to banks and other financial institutions.
In a virtual briefing yesterday, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the latest five-year record ending in 2018 shows that income of pawning firms from remittance services rose by 50 percent relative to the previous five-year period.
“As the pawnshop industry evolves, a number of industry players engage in corollary activities such as remittance and money changing. And these activities provide additional income and expand the profitability of pawnshops,” he said.