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International
Friday, January 13, 2017
International
BUSINESS
Bali News
Friday, January 13, 2017
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World food prices fall in 2016 for fifth straight year - UN FAO
ROME - World food prices fell for a fifth straight year in 2016 as losses in cereals, meat and dairy outweighed rises in sugar and vegetable oils, the United Nations food agency said on Thursday.
Prices remained stable in December from the month before, according to the Food and Agriculture Organization’s (FAO) main food price index, which has edged up steadily after hitting a seven-year low in January. The full year 2016 logged a 1.5 percent annual drop in the index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar. December’s reading of 171.8 points versus 171.9 points in November resulted from strong gains in vegetable oils and dairy largely offseting falls in sugar and meat, the FAO said. Sugar prices rose by about a third across the year, despite an 8.6 percent dip in December that mainly stemmed from a weaker Brazilian real against the dollar and an expected jump in production in Brazil’s main sugarcane-growing region. “Economic uncertainties, including movements in exchange rates, are likely to influence food markets even more ... this year,” FAO senior economist Abdolreza Abbassian said. Cereal prices steadily declined during the year, ending 39 percent below their 2011 peak. Vegetable oil prices reached their highest since July 2014 in December. Palm oil rose on low global inventory levels and tight supplies, while soy oil quotations were boosted by the prospect of rising use for biodiesel in North and South America. (rtr)
Residents of East Duda Hold Tug-of-War in Muddy Field
REUTERS/Paulo Whitaker
Consumers shop for food at a market in Sao Paulo, Brazil January 11, 2017.
German economy grows at fastest rate in 5 years
BERLIN - The German economy, the major driver of euro zone growth, expanded by 1.9 percent in 2016, the strongest rate in five years, a preliminary estimate from the Federal Statistics Office showed on Thursday, Europe’s largest economy is benefiting from rising private consumption and increased state spending on refugees, compensating for a weaker contribution from trade amid sluggish demand from major trading partners and emerging markets. Economists polled by Reuters had expected growth in gross domestic product (GDP) of 1.8 percent for 2016 after an expansion rate of 1.7 percent in the previous year. The growth rate of 1.9 percent matched the highest forecast in the poll. The Statistics Office said it estimated growth was around 0.5 percent for the fourth quarter. “The German economy in 2016 once again defied an entire series of downside risks, thanks to strong domestic demand,” REUTERS/Michaela Rehle/File Photo said ING economist Carsten Brzeski, addA man walks past driver cabins in the truck production plant of German truck ing that Germany’s biggest risk now was and bus maker MAN AG in Munich, Germany, July 30, 2015. complacency.
“The economy urgently needs new impetus from new structural reforms and stronger public and private investment. It is very unlikely that it will get any of these before the elections,” he said. Germany goes to the polls for a federal election in September. A breakdown of the 2016 GDP figures showed private consumption rose by an adjusted 2.0 percent on the year, contributing 1.1 percentage points to the overall 2016 growth rate. State spending jumped by 4.2 percent after a rise of 2.7 percent in 2015. The increased state spending added 0.8 percentage points to the overall growth rate. Investment in machinery and equipment contributed 0.1 percentage points while construction added 0.3 points. As exports rose less strongly than imports, net foreign trade subtracted 0.1 percentage point from the overall growth rate. Germany’s Ifo economic institute said last month the economy will rebound more strongly than previously expected in the fourth quarter and this growth momentum will carry through into 2017. (rtr)
Exciting activity like this will intrigue everyone. Residents of East Duda, Selat, Karangasem, held tug-of-war in the mud so that it became a very special attraction. Unsurprisingly, this traditional sport drew appreciation and extraordinary adrenaline. It is more challenging and needs prime energy and carefulness in thinking of beating their rivals. Obviously, the challenge is far more different from the tug-ofwar on grass. The atmosphere became more interesting when the whole body of the players was covered in mud. Their hair, face to other parts of the body was filled with mud. For newcomers, it is really a very interesting attraction when taking action to drag the rope and avoid the sprinkle of mud. The participants consisted of representatives from nine hamlets throughout East Duda village where each delegated one men’s team and one women’s team. Each team has ten personnel. At that time, the contest was followed by the women’s team of Pesangkan Anyar hamlet against the women’s team of Batu Gede hamlet. Though the participants were women, the contest became more exciting than the tug-of-war on the grass. If they already got dragged, it would be difficult to hold because it was quite slippery and heavy. Even though being flushed by heavy rains, it did not dampen the vivacity of the residents to play or to watch the contest. “The event is aimed at encouraging young people into farming. This tug-ofwar in the mud actually has become an annual event held every Christmas or
December 25,” said headman of East Duda, I Gede Pawana. READ Shanti Toya Ashram, Retreat Center for Yoga and Wellbeing Such an event is also associated with the anniversary of East Duda village. It is intended for entertainment, inspiring and motivating young people so that they want to get involved in the paddy field activity as farmers. “Contest of the tug-of-war in the mud is held in one of the paddy fields at Subak Pesangkan. Formerly, the field was converted into a snakefruit orchard. This activity is also to welcome the arrival of harvest season,” he explained. Tug-of-war activity in the mud got appreciation from the Regent of Karangasem, IGA Mas Sumatri. According to her, the tug-of-war in the mud is not only able to increase togetherness, but also proves that village government is able to implement its work program and get appreciation from its residents. “Actually this tug-of-war activity serves as a medium to build civilizations and closer friendship as the indicator if the work program of the village has run relatively well,” she said. (kmb)
Jaja Gina Misi Tape
Have you ever enjoyed jaja gina misi tape or gina cake served with fermented rice? Gina is the name of cake, a traditional Balinese cake. On the celebration of Galungan, jaja gina misi tape always graces the offerings of the Hindu community to be presented to God. It is rarely found because it is just made on certain days or certain Hindu holidays. Having been presented to God, it can then be consumed. Sometimes this cake is deliberately made as the main menu served to guests when making a visit to the home of the newlywed couple. It has become a tradition, if there are people carrying out wedding ceremony before Galungan, the other communities will give offerings as congratulation. As the exchange of the gift presented is jaja gina misi tape. This cake has a very sweet taste, but do not consume excessively because it can cause fever. Children, teenager and parents used to consume this jaja gina misi tape. However, the fermented rice should not be let for too long because its wine will melt. When let for long time, it will not taste good. Typically, the fermented rice has a good taste after three days from the making. Jaja gina is a dry cake denoting an ancestral heritage where not everyone can make. It is almost required every day to fill in the offerings and is also good to accompany morning coffee. This can be preserved to be practically used when necessary. To preserve, it can be dried and put into a container without preservatives.
IBP/kmb
READ Buleleng Palace This cake is made of white sticky rice, while the fermented rice is made from rice, white sticky rice or black sticky rice in accordance with the taste. Wash the sticky rice and steam until cooked. Take out and cool down before being sprinkled with yeast. Then, wrap in clean banana leaf and allow for 2-3 days for fermentation process to run successfully. In the wrapping process, keep away from free air and scent of salt because it can disrupt the fermentation process. (kmb)