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BusinessMirror
www.businessmirror.com.ph
A broader look at today’s business
n Sunday, October 8, 2017 Vol. 12 No. 360
2016 ejap journalism awards
business news source of the year
P25.00 nationwide | 2 sections 12 pages | 7 days a week
IMPORT BAN MAKES FOR PRICEY MEAT PRODUCTS DURING THE HOLIDAYS
L
By Jasper Emmanuel Y. Arcalas
ocal meat importers and processors are urging the government to expedite the lifting of the ban on Brazil meat imports to ease the prices of meat products in the domestic market.
The Philippine Association of Meat Processors Inc. (Pampi) said the ban on Brazil is a major factor in the expected price hike of meat products this coming holiday season, as the Latin American country is one of the Philippines’s biggest sources of its raw materials. “The country ban on Brazilian meats and [mechanically deboned meat or MDM] has become very disappointing, but we have to re-
spect [sanitary and phytosanitary] concerns of our DA [Department of Agriculture] for the protection of domestic livestock and poultry,” Pampi Executive Director Francisco Buencamino told the BusinessMirror. “The ban has caused a partial vacuum on supply of our raw materials, but we are hoping a resolution will be reached very soon,” he added.
Buencamino noted that allowing Brazilian suppliers to sell to the Philippine importers would somehow ease the anticipated price increase of meat products with the approach of the Yuletide season.
Factors
Pampi earlier said prices of some processed meat products this Christmas season may increase by as much as 6 percent, as raw mate-
rials sourced abroad are still expensive due to tight global supply, compounded by the peso depreciation. “The meat supply is stable and, at this time of the year, the [raw] materials for the Christmas season are here already and are in the production line already. But our cost has gone up because of the exchange rate, which has deteriorated by almost 10 percent year on Continued on A2
Gov’t lays out initial plan to rebuild city ravaged by siege
What’s next for Marawi?
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By Rene Acosta
he mammoth task of rebuilding Marawi is expected to begin in two weeks, the maximum additional time that the military expects to use up before it completely ends the terrorists’ occupation of the city. President Duterte said earlier that the soldiers will immediately leave the city once the fighting is over, then the rehabilitation works would begin without any delay. Military public-affairs office
chief Col. Edgard Arevalo said the fighting may be over in a few days, as seen by Armed Forces Western Mindanao Command commander Lt. Gen. Carlito Galvez Jr. Continued on A2
PESO exchange rates n US 50.9510
Army troops fire their 105mm Howitzers to welcome President Duterte as he arrives for the turnover of command ceremony for the new Army Chief Maj.Gen. Rolando Joselito Bautista on October 5, 2017, in Fort Bonifacio, Taguig City. Bautista assumes command for the 87,000-strong Army forces with thousands of them deployed in Marawi and nearby provinces to fight against Muslim militants who laid siege to the city in southern Philippines for more than four months now. AP/Bullit Marquez
n japan 0.4519 n UK 67.4999 n HK 6.5263 n CHINA 7.6538 n singapore 37.4392 n australia 40.0628 n EU 59.9184 n SAUDI arabia 13.5866
Source: BSP (5 October 2017 )
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