The Council of Agriculture yesterday said it will set up a fund to subsidize farmers for losses they could encounter after the government implements its free economic pilot zones.
The pilot zones are to allow food-processing companies to set up factories within the zones and to import agricultural raw materials that are currently banned from being shipped in, the council said.
For example, after the policy takes effect, local pineapple cake makers might start importing pineapples from abroad, and companies selling tea leaves are likely to use more of such products from China and Vietnam, Wu Ming-ming (吳明敏), a professor from Kainan University, said yesterday in Taipei during a public hearing regarding the establishment of the pilot zones.
The council said its preliminary estimation indicates that the output of farmers who supply their products to food-processing companies is between NT$23.5 billion and NT$35 billion (US$783 million and US$1.17 billion) a year.
The council did not specify an amount of potential damage local farmers might encounter.
Meanwhile, Su Wei-shuo (蘇偉碩), president of an association for farmers, said the government should not allow food-processing companies to label their products as “Made in Taiwan” if they used materials from abroad, because such a practice was likely to hurt the reputation for food made in the nation if cheaper ingredients from other countries was allowed under the “Made in Taiwan” label.
The policy is also to allow companies to transport pet fish from abroad to the zones for distribution to other countries.
In about 100 countries, companies can provide 5,400 kinds of fish to customers, while Taiwan currently only allows fish suppliers to bring 460 kinds into the country, Fan Tsu-hao (方祖豪), executive director of Taiwan Ornamental Fish Association, said at the hearing.
Meanwhile, participants at the hearing said that the draft was incomplete because it lacks clear regulations for supervising imports, which might present an opportunity for companies to import animals illegally.
In response, the National Development Council said that it would revise the draft to close loopholes that could give rise to animal trafficking.
Merida Industry Co (美利達) has seen signs of recovery in the US and European markets this year, as customers are gradually depleting their inventories, the bicycle maker told shareholders yesterday. Given robust growth in new orders at its Taiwanese factory, coupled with its subsidiaries’ improving performance, Merida said it remains confident about the bicycle market’s prospects and expects steady growth in its core business this year. CAUTION ON CHINA However, the company must handle the Chinese market with great caution, as sales of road bikes there have declined significantly, affecting its revenue and profitability, Merida said in a statement, adding that it would
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
RISING: Strong exports, and life insurance companies’ efforts to manage currency risks indicates the NT dollar would eventually pass the 29 level, an expert said The New Taiwan dollar yesterday rallied to its strongest in three years amid inflows to the nation’s stock market and broad-based weakness in the US dollar. Exporter sales of the US currency and a repatriation of funds from local asset managers also played a role, said two traders, who asked not to be identified as they were not authorized to speak publicly. State-owned banks were seen buying the greenback yesterday, but only at a moderate scale, the traders said. The local currency gained 0.77 percent, outperforming almost all of its Asian peers, to close at NT$29.165 per US dollar in Taipei trading yesterday. The