xpect oily issues to remain on top of the agenda in this Chinese year of the Water Tiger. After all, oil alwaysoats on top of water. It is bad enough that oil and fuel prices have almost doubled since the start of the year, pushing ination to 4% in March on the back of higher food prices, among other things. Now, edible oil is about to take a major hit as well.
The implication of the Indonesia ban, especially if prolonged, can be far-reaching. Palm oil is said to be the most used vegetable oil worldwide, while RBD palm oil is the main raw ingredient in the production of cooking oil. Other than food products, palm oil also goes into cosmetics, detergents, and soap, and is an ingredient in the production of biodiesel.
The issue with food-grade or edible oil, however, requires a more comprehensive approach to food security. Simply put, the average annual agricultural sector growth should always be signicantly higher than average population growth. Otherwise, agriculture will always have to play catch up just to meet the food needs of a growing population.
The Philippines does not produce its own wheat for bread and noodles, and thus regularly imports a big amount of wheat and cereals for food production. And with instant noodles, in particular, having become a cheap source of daily sustenance for the poor, the country’s import bill for bread and noodles production have also been going up.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BusinessWorld Virtual Economic Forum 2022 - BusinessWorld OnlineThe revolution is on! Join local and international experts in a discussion on how we can navigate the new world that awaits us all. REGISTER NOW to catch the early bird rate at BWVEFRevolutions2022
Source: bworldph - 🏆 9. / 68 Read more »
Anakpawis party-list presses for price controls on oil products - BusinessWorld OnlineA PARTY-LIST organization said on Tuesday that the government needs to impose price controls on oil products to aid agricultural workers, adding that fisherfolk are losing their livelihoods because of expensive fuel. READ:
Source: bworldph - 🏆 9. / 68 Read more »
MultiSys launches online store builder Multistore for MSMEs, entrepreneurs - BusinessWorld OnlineWith Multistore, entrepreneurs can build their own online store in minutes and have everything they need to run a business in one platform Recognizing the continuing challenge of micro, small and medium enterprises (MSMEs) in digitalizing their businesses amid the pandemic, leading software solutions company Multisys Technologies Corporation introduces an online store builder called Multistore, […]
Source: bworldph - 🏆 9. / 68 Read more »
Top Stories Archives - BusinessWorld OnlineGood morning! Here's a look at today's front page. Read today's top stories: Subscribe to our epaper: Join our interactive Viber community: Fake news yan. Magiging 20 pesos per kilo pa nga ang bigas eh. 🤪 The Indonesian owned Businesworld. Usually an indicator of economic progress but i wonder how much of this were compelled due to poor trasportation system for commuters?
Source: bworldph - 🏆 9. / 68 Read more »
Airbus Helicopters PHL seeks to expand market share - BusinessWorld OnlineAirbus Helicopters Philippines, Inc. is aiming to capture more than 30% of the country’s helicopter market, as it takes steps to meet growing demand from military and parapublic sectors. READ:
Source: bworldph - 🏆 9. / 68 Read more »
Max’s Group opens Yellow Cab Pizza in Texas - BusinessWorld OnlineMax’s Group, Inc. announced on Tuesday that it opened a Yellow Cab Pizza Co. branch in Houston, Texas as part of its ongoing international expansion. READ:
Source: bworldph - 🏆 9. / 68 Read more »