Metro Manila (CNN Philippines, December 11) — Publicly listed oleochemicals and specialty food ingredients manufacturer D&L Industries aired cautious optimism for its operations next year, with more businesses tapping its services and inflation challenges still lingering in the market.
D&L President and CEO Alvin D. Lao said the company’s operation took a toll from high interest rates and costlier raw materials.
Monetary officials usually implement interest hikes to curb soaring inflation, making borrowing costs more expensive, and prompting businesses and consumers to spend less and save more.
“Next year, even if the conditions are similar to where we are now,… I don’t think interest rates will go up even more,” he said in a statement. “It will still be challenging, but my assumptions are (rates and costs are) going to be the same level as this year.\”
The expected El Niño phenomenon, however, may affect the prices of raw materials, such as coconut oil, he said.
