Looming food crisis

HUNGER is set to worsen in the Philippines and other impoverished countries with a severe food crisis expected to hit this year.

According to economists, one of the factors contributing to soaring prices of basic food items is the proliferation of biofuels. The prices of corn, for instance, which is used in the manufacture of ethanol, increased by a staggering 88% in the world market—which has also triggered a domino effect on the prices of pork and chicken. Corn is a main ingredient in animal feeds.

Also affected by skyrocketing world market prices are coconut oil (96%), rice (54%), soybeans (85%) and wheat (148%). Prices of foods that use wheat and cooking oil (such as bread) are likewise projected to increase as a result. The effects of this crisis are expected to be felt in the Philippines by March.

Another factor is the spiralling price of crude oil that has now come to $103 per barrel, the highest recorded in the last 30 years.

Rapidly rising food prices are sure to worsen the already miserable conditions of the impoverished majority in the Philippines. National Statistical Coordination Board figures state that the proportion of poor Filipinos increased from 24.4% in 2003 to 26.9% in 2006. In fact, up to 80% of Filipinos live in abject poverty because of widespread unemployment and wages pegged at extremely low levels.




Choose to be Rich Work Book
(030708)

HOW WEALTHY ARE YOU?
Total Assets (Rich Dad Version) = P4,690.50
Total Expenses = P16,030+
ZERO WEALTH
Your Wealth (Assets/Expenses) = months
Total Passive Income = P
Note: Once your monthly passive income exceeds your monthly expenses, you're infinitely wealthy because your assets are working for you.
GOAL: TO PURCHASE ASSETS THAT GENERATE PASSIVE AND/OR PORTFOLIO INCOME IN EXCESS OF MONTHLY EXPENSES.

I AM SO HAPPY AND GREATFUL NOW THAT…
(030708)

1. For the movie Goal! I AM REACHING NOW MY DREAMS! NOTHING AND NO ONE CAN STOP ME!
2. March is the month where I am focusng on riches!
3. Money is coming to me in huge amounts! THANKS FOR THE MILLIONS!
4. The youth mag will be a big hit!