BusinessDaily (September 17, 2013)

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Mindanao Daily NEWS northmin . westmin . caraga . davao

BusinessDaily Your Mindanao-wide Community Newspaper

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Market Indicators

As of 6:15 pm sept. 16, 2013 (Monday)

FOREX

PHISIX

US$1 = P43.61

6,302.71 points

25 cents

X

169.47 points

X

Briefly New Price Act PRESIDENT Benigno S. Aquino III has signed into law a bill amending the Price Act to protect consumers against un d u e pr i c e hike d ur i ng calamities and emergency situations. The Chief Executive signed on September 6 the Republic Act 10623 or “An Act Amending Certain Provisions of Republic Act No. 7581, Entitled ‘An Act Providing Protection to Consumers by Stabilizing the Prices of Basic Necessities and Prime Commodities and by Prescribing Measures Against Undue Price Increases During Emergency Situations and Like Occasions’ and For Other Purposes.” The newly-signed Act, which originated in the House of Re pre se nt at i ve s, wa s finally passed by the House of Representatives and the Senate on June 5, 2013. The law expands the list of basic necessities under the law to ensure that more goods will be spared from price hike during calamities, emergencies and similar situation.

Water rate hike THE Cagayan de Oro Water District is planning to implement its approved rate adjustment before the year ends. This was revealed on September 12 by COWD Genereal Manager Rachel Beja during the meeting of the City Council committee on public utilities chaired by Councilor Roger Abaday. According to Beja, the water rate adjustment has been approved by the Local Water Utilities Administration (LWUA). The water district’s Board of Trustees and legal counsel have also opined that in view of the approval of the compromise agreement, COWD may now legally implement the adjustment.

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IN-DEPTH

Tuesday - September 17, 2013

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Mindanao bananas now in US markets M

By LOVELY MAE CASENAS, Staff Member

INDANAO-produced bananas finally made it to the US markets with the arrival last week of the maiden shipment of 7.047 metric tons of Cavendish variety at the Port of Long Beach near Los Angeles.

US EXPORT. Workers sort-out export-quality bananas. Philippine bananas finally made it to the US markets with the arrival of the maiden shipment in Los Angeles last week. The 7.047 metric tons of Cavendish variety from Bukidnon were shipped out from Mindanao Container Terminal in Tagoloan, Misamis Oriental. file photo by mindanews

“With this shipment, we are hopeful that Philippine bananas would be able to find and satisfy a niche in the competitive US banana market. We also hope that this is the beginning of increased access of Philippine bananas in North America,” Ambassador Jose L. Cuisia Jr. said. This development made the Philippines as the first Asian country to export bananas in the US. Part of an estimated 3,000 metric tons that the US hopes to import from the Philippines this year, the maiden shipment came almost eight

years after the Philippines first requested market access for its bananas, Agriculture attaché Josyline C. Javelosa said. “Philippine bananas are among the best in the world and there is opportunity to bring in the unique and special banana varieties like lakatan and latundan, which Filipinos in the US have long been craving for and which Americans can learn to love,” said Javelosa. The highland bananas, marketed in the US under the Sweetio brand and shipped by Dole Philippines to bananas/PAGE B11

Prices of canned goods Delayed bridge construction remain stable in Normin brings woes to B’non farmers

DE S PI T E t h e r e du c e d pro duc t ion by s a rd i ne factories in Zamboanga Pe n i n s u l a d u e t o t h e ongoing conflict, prices of canned goods in Northern Mindanao remained stable,

the Department of Trade and Industry (DTI) in the region said yesterday. DTI provincial director Maria Eliza Pabillore of Misamis Oriental said the goods/PAGE B11

Prices of canned-fish products remain stable.

By BUTCH D. ENERIO Correspondent

FARMERS and traders in Talakag, Bukidnon have to wait a little while before a major bridge linking the province to this city would be passable, and the flow of goods, normalize. This after Congresswoman M a r i a L ou rd e s Ac o s t a Alba of the 3rd District of Bukidnon was assured by the constructor of the Uguiaban Bridge t hat it wou ld be finished next month, three months behind schedule. Rep. Alba, who personally inspected the ongoing works last Sunday, said that her visit to the site was necessitated to bridge/PAGE B11

BRIDGE REPAIR. Damaged by Typhoon Pablo in December last year, the Uguiaban Bridge in Talakag, Bukidnon is undergoing repair with the help of the province 3rd district Rep. Maria Lourdes Acosta Alba. The bridge is vital to transport agricultural products by the farmers in the third district.

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