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Bat Out of Hell singer Meat Loaf, 74

Meat Loaf/youtube — MEAT LOAF/YOUTUBE

LONDON —  Meat Loaf, the US rock star whose debut Bat Out of Hell became one of the best-selling albums of all time, has died aged 74.

Delivering epic anthems about love, lust and motorcycles with an intensity bordering on melodrama, Meat Loaf became an enduring — and sometimes bombastic — rock icon in the late 1970s.

The singer and actor, otherwise known as Michael Lee Aday, sold more than 100 million records worldwide and had roles in films The Rocky Horror Show and Fight Club.

With hits including the near 10-minute-long title track from Bat Out of Hell, “Paradise by the Dashboard Light” from the same album, and 1993’s “I’d Do Anything for Love (But I Won’t Do That)”, Meat Loaf’s appeal extended far beyond hard rock fans.

“Like a bat out of hell I’ll be gone when the morning comes; When the night is over, like a bat out of hell, I’ll be gone, gone, gone,” Meat Loaf sang in “Bat Out of Hell,” with a passion that became his hallmark.

The singer died with his wife by his side. His daughters, Pearl and Amanda, had been with him in his final hours. No cause of death was immediately disclosed.

“Our hearts are broken to announce that the incomparable Meat Loaf passed away,” his family said in a statement. “From his heart to your souls … don’t ever stop rocking!

BAT OUT OF HELL
Born in Dallas, Texas, in 1947, to an alcoholic father who beat him and once tried to kill him, Mr. Aday was teased at school about his weight. But he would become one of the world’s rock legends.

In search of stardom, he left for Los Angeles where he formed his first band. He found success on the stage in the 1970s, performing in the musicals Hair and The Rocky Horror Show.

But his breakthrough into the big league would come with Bat Out of Hell, a collaboration with composer Jim Steinman.

The debut album, a cocktail of gothic horror and guitar rock that initially struggled to find a record label, showcased his powerful voice and established his long-haired, ruffle-shirted rock persona.

He toured extensively in the 1980s but chart success eluded him early in that decade until he collaborated again with Mr. Steinman on a sequel to his debut, Bat Out of Hell II: Back into Hell, in 1993.

The comeback included “I’d Do Anything for Love (But I Won’t Do That),” which topped the charts in 28 countries, including for seven weeks in Britain.

Mr. Steinman died in April.

Meat Loaf treated interviews as a performance, spinning elaborate tales about his life, including the origin of his stage name, some of which referenced teenage taunts about his size.

ROCKING IN HEAVEN
Former US President Donald Trump was a big fan.

“Meat Loaf was a great guy — got to know him very well doing Celebrity Apprentice,” he said in a statement, referring to the reality TV show Mr. Trump hosted. “He was smart, talented, open, and warm.”

Cher, who duetted with Meat Loaf on 1981’s “Dead Ringer for Love,” said she had so much fun making the record.

British writer Stephen Fry, who appeared in a television sketch with the rock star, said, “I hope paradise is as you remember it from the dashboard light, Meat Loaf.”

“He had the quality of being simultaneously frightening and cuddly,” British producer Pete Waterman said: “It was his voice — you knew what you got with Meat Loaf. It was 100% of everything.”

British composer Andrew Lloyd Webber said: “The vaults of heaven will be ringing with rock. RIP Meatloaf.” — Reuters

Mitsubishi ushers in the Year of the Water Tiger with new deals

MITSUBISHI MOTORS Philippines Corp. (MMPC) said it is looking to “bring luck to customers this Year of the Water Tiger” by serving up affordable deals on new Mitsubishi vehicles.

Until Jan. 31, customers get to choose from an array of all-in down payment deals available in any Mitsubishi dealership nationwide.

Said MMPC Assistant Vice-President for Brand Communications Mark Parulan, “Over the years, celebrating Chinese New Year has become a part of our multi-faceted culture. It is a time where we welcome ‘positive energy’ in hope of attracting prosperity and success… We want to embody that symbolism and send some good fortune to customers who have been eyeing to drive home a Mitsubishi. This is our own twist to this well-known tradition with the ultimate goal of uplifting Filipino lives one vehicle at a time.”

This special promo package includes a three-year LTO registration plus one-year comprehensive insurance and chattel mortgage for the featured variants. Prices do not include freight and handling for provincial dealers. For the full mechanics, visit www.mitsubishi-motors.com.ph.

Peso may weaken vs dollar on expectations of hawkish Fed statement

BW FILE PHOTO
THE PESO could decline against the greenback this week ahead of the US Federal Reserve’s policy meeting. — BW FILE PHOTO

THE PESO is likely to depreciate this week, on expectations of slower economic growth in the fourth quarter of 2021 and more hawkish signals from the US Federal Reserve at its first policy review this year.

The local unit finished trading at P51.37 per dollar on Friday, depreciating by three centavos from its P51.34 close on Thursday, based on data from the Bankers Association of the Philippines.

It also weakened by 26 centavos from its P51.11-per-dollar close a week earlier.

The surge in oil futures was a major factor for the peso’s depreciation last week, UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said in an e-mail.

While oil prices declined on Friday, oil futures climbed for the fifth week due to tightening supply, Reuters reported.

Both Brent and West Texas Intermediate futures gained around 2% the past week. Year to date, prices have gone up by 10% as investors are still worried on tight supply.

The two crude benchmarks rose to their highest levels since October 2014 last week.

Higher jobless claims in the US also made investors risk averse on Friday, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

US jobless claims for the week ended Jan. 15 rose by 55,000 to 286,000, the highest since mid-October, Reuters reported.

For this week, Mr. Asuncion said the outcome of the first policy review of the Fed on Jan. 25-26 will be monitored by the market.

Median forecasts of a Reuters poll showed analysts expect three rate hikes from the US central bank this year starting in March.

Fed officials have said the US economy is ready for monetary policy tightening amid elevated inflation.

Meanwhile, Mr. Ricafort said the market will also price in fourth-quarter and full-year 2021 gross domestic product (GDP) data, which will be reported by the Philippine Statistics Authority on Thursday. Jan. 28.

A BusinessWorld poll of 18 analysts yielded a median estimate of a 6.5% year-on-year expansion in the fourth quarter.

If realized, this would be slower than the 7.1% in the third quarter. This would also bring full-year growth to 5.3%, which is within the downwardly revised 5-5.5% target of economic managers.

For this week, both Mr. Asuncion and Mr. Ricafort gave a forecast range of P51 to P51.50 per dollar. — L.W.T. Noble with Reuters

NSA travel expenses to be reimbursed if athletes win medals

NATIONAL Sports Associations (NSAs) that will shoulder its own trip to the Hanoi Southeast Asian (SEA) Games set May 12-23 will get the chance to get its money back if it could bring home a medal of any color.

Plus incentives.

Philippine Olympic Committee (POC) President Abraham Tolentino said there are 80 athletes from football, table tennis, archery, badminton, tennis, gymnastics, e-sports, pencak silat and bowling in the appeals list who are hoping to join the biennial meet at their own expense.

They were the ones downgraded following the POC’s decision to trim down the national team roster to 584 athletes from 627 due to budgetary reasons.

A medal finish though would earn them a reimbursement from the Philippine Sports Commission (PSC) plus incentives worth P300,000 for a gold, P150,000 for a silver and P60,000 for bronze as mandated by law.

“Yes, plus incentives. Most of them are additional athletes with some from the original list,” said the congressman from Tagaytay and PhilCycling chief.

Mr. Tolentino and the PSC are looking for contingency fund from the Department of Budget and Management since the remaining SEA Games budget worth P121 million will not be enough to bankroll the country’s campaign.

The country would need around P150 million to P200 million to mount a successful bid in Hanoi. — Joey Villar

Fertilizer-price drop may signal relief at last for US farmers

REUTERS

WHOLESALE US prices for fertilizer are dropping, and that could signal easing food-cost pressures and relief for farmers getting set for spring planting.

Cornbelt urea prices fell 8.2% on Friday to $675 per short ton, the lowest since October, according to Bloomberg’s Green Markets. Prices have fallen each week this month as the market adjusts to recent reports of full warehouses, signaling the anticipated shortage of the crop nutrient this year may not come to pass. 

Retail prices are still at stratospheric levels, but that could soon reverse, Green Markets analyst Alexis Maxwell said in an e-mail.

“US retail urea prices are firm as wholesalers have higher-cost inventory in their system,” Maxwell said. “As they replace inventory with lower-cost urea, I expect them to pass on the savings to farmers ahead of spring plantings and in the first quarter.”

Fertilizer prices soared to repeated records over the last few months, spurred by setbacks including an energy crunch in Europe, unexpected plant closures and halted exports from major suppliers. The increase has stoked concerns over prospects for further food inflation at a time when consumers are already paying more for staples like grains and coffee.

Still, urea “remains a significant on-farm expense” despite the drop in January, according to Maxwell, who said prices are still almost double the level they were at this time last year. — Bloomberg

ERC approves interim power supply deal for Bantayan Island

ISLA NORTE Energy Corp. (INEC) can continue supplying power to Bantayan Electric Cooperative, Inc. (Banelco) after the Energy Regulatory Commission (ERC) approved their interim power supply agreement (IPSA).

In an order notice posted on the regulatory commission website, the approved fixed interim rate is at P5.92 per kilowatt-hour (kWh), while the fuel fee is subject to the guaranteed fuel consumption rate of P0.28 per liters/kWh (Li/kWh) and P0.0020 Li/kWh, whichever is higher.

The commission has also ordered Banelco to verify the subsidy fees paid for by the National Power Corp.’s small power utilities group (NPC-SPUG) in every billing month and confirm that the pricing is according to what’s agreed; certify to the NPC-SPUG each billing period that INEC has been operating and maintaining the power plant; and submit a monthly fuel cost.

Banelco also has an existing 2.7-megawatt (MW) power supply agreement with Bantayan Island Power Corp.

Meanwhile, INEC, a joint venture of Vivant Integrated Diesel Corp. and Gigawatt Power, Inc., was directed to submit an audited financial statement including its operations and maintenance expenses, plant cost and actual plant capacity factor, and to conduct preventive maintenance during off-peak hours.

In November 2021, INEC powered up the energy supply of Bantayan Island after the operations of its 23.3-MW diesel power plant, which was allowed by the ERC to operate on Oct. 28, 2021. — M.C. Lucenio

Stocks may climb ahead of GDP data, Fed review

STOCKS could move higher this week on the back of declining coronavirus disease 2019 (COVID-19) infections in the country ahead of the release of Philippine gross domestic product (GDP) data and the US Federal Reserve’s policy meeting.

The Philippine Stock Exchange index (PSEi) went up by 54.24 points or 0.74% to close at 7,293.52 on Friday, while the broader all shares index advanced 13.56 points or 0.35% to finish at 3,869.40.

Week on week, the main index went up by 32.19 points from its 7,261.34 close on Jan. 14.

Online brokerage 2TradeAsia.com said in a note sent over the weekend that trading was volatile last week due to hawkish hints from the US central bank.

For this week, analysts said the market’s focus will be on the Fed’s policy review as well as local developments such as the country’s COVID-19 situation and the release of GDP data for the fourth quarter of 2021.

The Fed is holding its first policy review this year on Jan. 25-26. Investors expect the US central bank to hike benchmark rates aggressively this year to quell rising inflation, with the first action seen as soon as March.

Meanwhile, the Philippine Statistics Authority is scheduled to report fourth quarter and full-year 2021 GDP data on Jan. 27.

Cristina S. Ulang, First Metro Investment Corp. head of research, said the PSEi could move with an upward bias this week and could touch the 7,400 level amid decreasing COVID-19 cases in Metro Manila.

OCTA Research Group said on Saturday that new coronavirus infections in the capital declined by 30% from Jan. 15 to 21.

OCTA Research fellow and University of the Philippines Professor Fredegusto Guido P. David said in a tweet that while cases are decreasing in the capital region, numbers are expected to surge in provinces like Cebu, Iloilo, and Davao.

“Mining and oil, consumer discretionary, and financials are the sectoral indices that are seen to improve in the next days,” Ms. Ulang said in a Viber message.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said accelerated COVID-19 vaccination drive will also boost sentiment.

The government has allowed pharmacies to start offering COVID-19 booster shots for wider accessibility.

Last week, the government was able to vaccinate 54 million Filipinos against the virus, a target it wanted to hit at the end of 2021.

Data from the Health department showed 56.4 million individuals have been fully vaccinated against COVID-19 as of Jan. 20, while another 59.4 million have received their first dose.

“Increased vaccination or booster doses inoculated can better justify any further measures to reopen the economy, after the adoption of the granular lockdowns under the Alert Level System and possible further easing of the Alert Level 3 for Metro Manila and some provinces,” Mr. Ricafort said in an e-mail over the weekend.

2TradeAsia.com put the PSEi’s immediate support at 7,200 and resistance at the 7,400 level. — MCL

Style (01/24/22)

Merrell releases new Hydro Mocs

MERRELL has released three new colorways of its unique-looking water shoe, including a women’s style. The eye-catching, functional Hydro moc was introduced to the country last November through its black and navy styles. The “ugly” shoe now comes in new Spring-ready shades like butternut and black/brindle for men and burgundy for women. Made with a single piece of rubberized EVA foam, the Hydro Moc is as suited for the beach and the camping trail as it is on city streets and casual bike rides as it combines a sleek, ironic fashion with technical function. First released in North America, the Hydro Moc drew immediate attention from the media and the general public because of its unusual look. The shoe has since been introduced in Latin America, East Asia, Australia, and now the Philippines. The Hydro Moc has often been worn with brightly colored socks or on their own for outdoor activities at beach, camping, and biking. The Merrell Hydro Moc sells for P2,590. Merrell has also introduced the Hydro Slide, which comes in black, white, and Burgundy colorway (P2,095). The latest Hydro Moc and Hydro Slide colorways are available in Merrell concept stores nationwide, major department stores, and online at the official webstore www.merrell.com.ph.

SM accepting donations for typhoon-hit communities

THE SM Store and SM Foundation are encouraging customers to donate new or gently used clothes via their Share Your Extras drive. Donations pooled this year will be for the benefit of communities affected by Typhoon Odette. Shoppers can drop off their pre-loved clothes or purchase new ones for donation at any of The SM Store branches from Jan. 15 to Feb. 15 in Metro Manila, and Feb. 1 to 28 at the rest of the branches nationwide. For every donated item, shoppers will receive a P100 discount coupon voucher courtesy of The SM Store. This can be redeemed at their next single-receipt purchase of a minimum of P1,000-worth of select items in-store or via Call To Deliver. SM gives the following tips for donations: When donating used clothes, make sure they are in good condition. The clothes should be gently used and in good, wearable condition, without holes or damage. Donate practical clothes only (tops and bottoms for everyday wear that can be used comfortably by infants or adults) and avoid donating suits, gowns, uniforms, and costumes, used undergarments and bathing suits. Wash the clothes first, and try to remove spots or stains. Check the pockets to make sure there are no valuables or pieces of trash left in the pockets. Share Your Extras is an annual initiative of The SM Store and SM Foundation aimed at helping communities in need. In 2018, they provided personal hygiene items for families in Marawi, and in 2020, packed relief items for communities in Isabela hit by Typhoon Ulysses. This year, Share Your Extras will benefit families affected by Typhoon Odette, which has displaced millions of individuals in Mimaropa, Visayas, and Mindanao. For more updates and ways to donate, visit www.thesmstore.com and follow its social media pages @thesmstore on Facebook, Instagram, and Twitter.

COS launches Lunar New Year capsule collection

THE LONDON-based fashion brand COS has launched a Lunar New Year capsule collection centered around the anticipation of a ‘bright’ new year ahead. Nodding to auspicious traditions associated with the occasion, shades of red make an appearance throughout the collection for an emphasis on cheer. Tonal dressing makes a statement without sacrificing comfort; when paired with oversized accessories such as graphic wool scarves, quilted accessories and statement knit hybrids, juxtapositions of proportions dress up easy silhouettes to give looks a playful edge. COS is known for collections that balance innovative design with enduring style, with every piece made to last beyond the season. COS creates modern, functional, and considered design and has supported the arts since its inception through collaborations with established and emerging creatives, galleries and creative studios.

Swarovski celebrates Star Wars

THE STAR Wars universe meets Swarovski craftsmanship in a dynamic limited-edition model of the Millennium Falcon. Embellished with over 25,000 hand-set crystals in its iconic Pointiage technique, each ship takes over 160 hours to create. The black metal base features a fully reflective mirror effect, enhancing the brilliant sparkle of this unique collector’s piece. Limited to 100 numbered pieces worldwide, it is delivered in a premium blue suitcase with a certificate of authenticity. The edition number is engraved on a round metal plaque on the base. This Limited-Edition piece is available for special order and subject to availability. Swarovski is available at Rustans Makati, Rustans Shangri-La, Rustan’s Alabang and Rustan’s Cebu. For more information, visit Rustans.com.

Y.O.U Beauty launches new BB Cream

COMING into a new year, Y.O.U Beauty has launched a new product to help keep skin flawless and glow from within — The Radiance White BB Cream. The flawless natural look is made possible by Soft Marshmallow Powder that covers blemishes and makes the skin’s texture feel smoother. The Triple Bright Activator composed of Snow Mushroom, Niacinamide, and Vitamin C brightens, hydrates, and maintains skin elasticity, while SPF 40 and PA+++ offer broad-spectrum protection against UVA and UVB rays. The product is formulated to be free of parabens, synthetic fragrances, alcohol, and mineral oil. To suit a wide range of skin tones, it comes in three variants: 01 Vanilla for fair skin, 02 Almond for medium light to medium deep skin, and 03 mocha for deep to medium skin. Shop the product range online at the Y.O.U Beauty Lazada and Shopee stores.

Ford Philippines notches 35% growth in 2021

PHOTO FROM FORD PHILIPPINES

VEHICLE SALES for Ford Philippines increased by 35% in 2021 as it sold 20,008 units for the year. In a release, the company said that the Ford Ranger was the top-selling Ford vehicle last year — moving a total of 9,184 vehicles. The model proved to be the best-selling 4×4 pickup truck last year with 5,490 vehicles delivered, with the Ranger Raptor cornering a market share of 36% in the 4×4 pickup category.

Ford also further expanded its pickup portfolio last year with the addition of the new Rangers to the lineup — the FX4 Max, and the limited-edition Raptor X, complementing the diverse needs and lifestyles of customers.

“The Ford Ranger drove our strong retail performance last year as we continue to offer a pickup truck that is tough, capable, and versatile. We also strengthened our connection with our customers through ‘Live the Ranger Life,’ which showcased how the Ford Ranger enables their needs, passions, and goals in life,” said Ford Philippines Managing Director Michael Breen.

Meanwhile, the company reported that the Ford Territory repeated as the country’s best-selling small SUV last year — with 6,881 vehicles sold, and a market share of 55%. In 2021, the Territory also reached a couple of sales milestones — getting its 5,000th customer in June and its 8,000th in November.

Also contributing to the overall retail sales were the Ford Everest midsize SUV and Ford EcoSport mini-SUV — with 1,772 and 1,500 vehicles sold in 2021, respectively.

In 2021, Ford also expanded its North American vehicle lineup with the launches of the Mustang Shelby GT500, all-new F-150 Lariat, and all-new Explorer. In the Philippines, the Blue Oval’s dealer network grew last year with the opening of Ford Talisay in Cebu. As consumer demand for vehicles has been on the upswing since the waning months of last year, Ford’s fourth-quarter sales grew by nine percent from the previous quarter to 5,301 vehicles. Ford achieved its second-best retail month in December with sales totaling 1,851 vehicles.

“We are optimistic that we will be able sustain the momentum in 2022 as we continue to partner with our dealers, partners, and employees in bringing our segment-leading vehicles to more Filipino customers and enhancing the Ford ownership experience,” concluded Mr. Breen.

Yields on government debt end mixed

YIELDS ON government securities (GS) ended mixed last week following a sell-off in US Treasuries as traders priced in more aggressive interest rate hikes by the Federal Reserve.

GS yields, which move opposite to prices, went up by a week-on-week average of 5.01 basis points (bps), the PHP Bloomberg Valuation Service Reference Rates published on the Philippine Dealing System’s website as of Jan. 21 showed.

Tenors at the short end of the curve fell at the end of trading on Friday. Yields on the 91-, 182- and 364-day Treasury bills dropped by 6.55 bps, 2.67 bps, and 3.36 bps to 0.8783%, 1.0979% and 1.4473%, respectively.

Meanwhile, the belly of the curve increased as the rates of the two-, three-, four-, five-, and seven-year Treasury bonds (T-bonds) jumped by 9.17 bps (to 2.4090%), 9.29 bps (3.0586%), 8.66 bps (3.6520%), 7.03 bps (4.1220%), and 3.56 bps (4.6504%), respectively.

The long end of the curve also climbed. The 10-, 20-, and 25-year debt saw their yields rise by 13.3 bps (to 4.9573%), 8.15 bps (5.0894%), and 8.56 bps (5.0808%), respectively.

“Yields were mixed in the previous week with belly and longer securities drifting higher amid US Treasuries’ sell-off streak,” First Metro Asset Management, Inc. (FAMI) said in an e-mail.

“Markets priced in faster US Federal Reserve (US Fed) hikes in line with persistently high inflation sending US 10-year to its highest yield since January 2020.”

FAMI added that proceeds from the fixed-rate Treasury note 10-54 that matured recently helped temper the sell-off in local bonds amid rising US yields.

Meanwhile, a bond trader attributed last week’s yield movement to growing views of more aggressive rate hikes from the Fed this year as well as inflationary concerns after international crude prices returned to their November peak levels.

“The upward movement was mostly observed in the belly of the curve and long-term yields as these drivers are highly seen to exert pressures on domestic inflation,” the trader said in an e-mail interview.

“Short-term yields, however, dropped after BSP (Bangko Sentral ng Pilipinas) Governor [Benjamin E.] Diokno remained fairly dovish in his latest policy signals,” the trader added.

Yields on US Treasuries rose last week as traders adjusted to the possibility that the Fed will hike rates more aggressively to temper rising inflation, Reuters reported.

Benchmark 10-year US note yields reached 1.902% in overnight trading on Wednesday, highest in two years or since January 2020.

The Fed is scheduled to meet on Jan. 25-26, which could provide additional clues for an interest rate hike as early as March.

Meanwhile, the BSP chief signaled that a rate hike in the first half of the year may not be possible as the central bank wants to wait for a firmer economic recovery and for unemployment to fall.

For this week, the bond trader said local yields might move with an upward bias as the Fed is expected to make more hawkish statements after its policy meeting this week.

“However, the increase in GS yields might be limited due to some caution ahead of the Philippine GDP (gross domestic product) report and lingering concerns over the local COVID-19 situation. Market participants remained fixated on the potential policy cues from the US Federal Reserve while closely monitoring the local COVID-19 situation,” the bond trader added.

For FAMI, the liquidity from the maturing five-year papers will keep support for the front end and belly of the curve.

“Meanwhile, longer bonds will continue to be subjected to developments in global bonds space until we have stronger catalysts in the local front.”

The Philippine Statistics Authority is scheduled to report fourth-quarter and full-year 2021 GDP data on Jan. 27. — Lourdes O. Pilar

Fresh produce risks getting more scarce with US jabs

REUTERS

FOOD SHORTAGES already seen at grocery stores across the US risk getting worse as the country begins mandating vaccinations from truck drivers coming from Mexico and Canada.

The mandate starting Jan. 22 requires truckers and other essential workers who aren’t US citizens crossing into the country to be vaccinated. Canada made a similar move beginning Jan. 15, and it has caused chaos for the country’s fruit and vegetable markets. Now the produce industry is sounding the alarm that the US could experience similar headaches because of the large amount of food imported from Mexico during the winter months. In 2020, Mexico accounted for 77% of US fresh vegetable import volume. This comes at a time when the food supply chain is already seeing massive disruption.

“This will only bring more pressure in terms of bottlenecks and availability of truck drivers that are eligible to drive into the US,” said David Magana, a Rabobank senior analyst.

The mandate will also affect temporary workers who cross the border to work on farm jobs like harvesting vegetables and picking fruit. Some of these workers come from Mexico daily to jobs in places like Arizona and California for the production of leafy greens at this time of year, Magana said.

The US has already been struggling to put food on shelves as shipping snarls, a lack of labor and other logistical headwinds have pushed inflation up around the world. Global food inflation saw a near-record high at the end of last year as harvest setbacks and high freight rates roiled markets, though food prices have eased some. Any issues caused by this new vaccine mandate could impact availability of fresh food.

“It’s just going to continue to impact the ability to get fruit to the market, because Mexico fills an important hole in the fresh produce market,” said Curt Covington, senior director of institution credit at AgAmerica Lending, which loans money to farmers.

The Delaware-based International Fresh Produce Association (IFPA) said in an e-mailed statement that organization leadership is concerned about how the supply chain will be impacted by the mandate.

“Given the volumes of fresh fruits and vegetables that flow across North American borders, IFPA Chief Public Policy Officer Robert Guenther has already shared the association’s concerns to DHS Assistant Secretary Eva A. Millona on the impact this is going to have on the entire food supply chain, not just produce, which is already experiencing extreme challenges,” IFPA said on its website. — Bloomberg

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