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      <title>MIEC PROJECT tc05 group 4 by shi en</title>
      <link>https://padlet.com/s10196221/cjucmhy6xl4e</link>
      <description>xuening, shawn, shin yeap, regine, jereth, shi en</description>
      <language>en-us</language>
      <pubDate>2019-05-17 03:26:55 UTC</pubDate>
      <lastBuildDate>2025-12-10 11:46:44 UTC</lastBuildDate>
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         <title>Demand &amp; supply and elasticity</title>
         <author>s10194856</author>
         <link>https://padlet.com/s10196221/cjucmhy6xl4e/wish/361062944</link>
         <description><![CDATA[<div>Surplus</div>]]></description>
         <enclosure url="https://www.theguardian.com/world/2019/jun/10/philippines-overflows-with-millions-of-mangoes-as-el-nino-take-effect" />
         <pubDate>2019-05-17 05:07:57 UTC</pubDate>
         <guid>https://padlet.com/s10196221/cjucmhy6xl4e/wish/361062944</guid>
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         <title>Market equilibrium(and surplus)</title>
         <author>s10194856</author>
         <link>https://padlet.com/s10196221/cjucmhy6xl4e/wish/361063228</link>
         <description><![CDATA[<div>The <a href="https://www.theguardian.com/world/philippines">Philippines</a> is struggling under the weight of a sweet but troublesome burden: a glut of 2m mangoes.</div><div>The agriculture secretary, Emmanuel Piñol, said mango farmers had reported an “unusual increase” in the harvest, which they had attributed to El Niño, the climate phenomenon that has led to unusually hot, dry weather this year.</div><div>One the Philippine island of Luzon alone there is a surplus of about 2m kg of mangoes, according to Piñol, an oversupply that has led the price to drop from 58 pesos (88p) to as low as 25 pesos (38p) per kilogram.<br><br></div><div>Explanation:<br>Even though both the demand and supply curve of mangoes shifted to the right, the supply curve shifted much more to the right compared to the demand curve. This is because the supply increases more than demand does. As a result, there is a decrease in the equilibrium price of mangoes and increase in the equilibrium quantity of mangoes sold.</div><div><br>Some ways the Government(Department of Agriculture) intend to help solve the surplus issue include the ''launching classes to show people ways to cook with mangoes, and holding a mango festival to get people buying and eating'' and ''the government is <a href="https://www.manilatimes.net/agri-dept-positive-on-selling-off-mango-surplus/567560/">encouraging farmers to “add value”</a> to their exports through processing.''<br>Furthermore, agriculture secretary Manny Piñol announced that an official “Metro Mango” marketing campaign aimed at <a href="https://www.facebook.com/permalink.php?story_fbid=2332838563465266&amp;id=351448724937603">selling 1 million kg</a> of fresh mangos in Manila through the month of June to help tackle the issue of the mangoes surplus</div>]]></description>
         <enclosure url="" />
         <pubDate>2019-05-17 05:11:00 UTC</pubDate>
         <guid>https://padlet.com/s10196221/cjucmhy6xl4e/wish/361063228</guid>
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         <title>Tutor&#39;s Comments:</title>
         <author>nmk</author>
         <link>https://padlet.com/s10196221/cjucmhy6xl4e/wish/361476344</link>
         <description><![CDATA[<div>A good start. However you need to decide on the good your project group is going to focus on. Fruits and vegetables in the U.S. would be too general; same goes for agricultural and supermarket products in France. Or do you want to focus on just pork?</div>]]></description>
         <enclosure url="" />
         <pubDate>2019-05-19 11:24:58 UTC</pubDate>
         <guid>https://padlet.com/s10196221/cjucmhy6xl4e/wish/361476344</guid>
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         <title>Demand &amp; Supply of mangoes</title>
         <author>s10194856</author>
         <link>https://padlet.com/s10196221/cjucmhy6xl4e/wish/369267181</link>
         <description><![CDATA[<div>Article 1: The bumper harvest, caused by El Nino, happens “every three to four years”, said agriculture secretary Emmanuel Pinol on Monday (Jun 10).</div><div>An El Nino weather event can trigger both floods and drought in different parts of the world, and is associated with warmer, dry weather across the Asia-Pacific region.</div><div>“This is the phenomenon of El Nino … called fallowing where the soil has rested for some time because of the heat and with sudden rain, the production of fruit trees increases,” Mr Pinol was quoted as saying by <a href="https://www.manilatimes.net/agri-dept-positive-on-selling-off-mango-surplus/567560/">Manila Times</a>.</div><div>“It’s a good phenomenon for us. The only problem is our farmers weren’t able to immediately coordinate with us that they have expected oversupply and partly the DA (Department of Agriculture) has fell short on monitoring these developments,” he added.<br><br>Article 2: The department has also launched cooking classes to teach people how to cook with mangoes and will be holding a mango festival in mid-June in a bid to drum up excitement and demand for the fruit. <br><br>The surplus of mangoes is mainly due to 2 reasons.<br>Firstly, The El Nino weather has caused an increase in the harvest of fruit trees like the mangoes. This will lead to an increase in supply of mangoes in the market due to  one of the non-price determinants of supply mainly the number of sellers. As more mangoes are being harvested, the <strong>number of sellers</strong> selling the mangoes will increase too. This  increase in supply of mangoes will then cause a rightward shift in the supply curve for mangoes.<br>Moreover, as the price of mangoes had dropped due to the surplus, mangoes have become relatively cheaper as compared to other fruits which are now relatively more expensive and this is also known as the Substitution Effect where the willingness of the buyer rises due to the <strong>change in the price of the good itself</strong> . Moreover, demand for mangoes had also now increased due a non-price determinant of demand which is the <strong>number of buyers</strong>. As the department organised cooking classes to teach people how to cook with mangoes and also to hold a mango festival in mid-June where a lot of mangoes would be needed. Hence, this increase in demand of mangoes would cause a rightward shift in the demand curve too.</div><div><br><br></div>]]></description>
         <enclosure url="" />
         <pubDate>2019-06-26 12:11:27 UTC</pubDate>
         <guid>https://padlet.com/s10196221/cjucmhy6xl4e/wish/369267181</guid>
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         <title>Elasticity of mangoes</title>
         <author>s10196572</author>
         <link>https://padlet.com/s10196221/cjucmhy6xl4e/wish/369532039</link>
         <description><![CDATA[<div>With the oversupply of mangoes, the prices of mangoes had dropped to about between 25 and 50 Philippine pesos (38 to 96 US cents) in order to sell the fruits off before it rots. The decrease in prices have lead to an increase in quantity demanded of the mangoes, by the law of demand. Mangoes in the Philippines is price elastic, the decrease in the prices of the mangoes have lead to a big increase in the quantity demanded for mangoes, implying that the buyers are responsive to the price drop. A Japanese fruit importing company has took the opportunity to import a large amount of mangoes from the Philippines.<br><br>Mangoes are price elastic as there are many substitutes to mangoes. When the price of mangoes decreases, mangoes would be relatively cheaper than the substitutes. Thus, more people would buy the mangoes, making the mangoes price elastic.</div>]]></description>
         <enclosure url="" />
         <pubDate>2019-06-28 06:37:48 UTC</pubDate>
         <guid>https://padlet.com/s10196221/cjucmhy6xl4e/wish/369532039</guid>
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         <title>Market equilibrium</title>
         <author>s10196572</author>
         <link>https://padlet.com/s10196221/cjucmhy6xl4e/wish/369895268</link>
         <description><![CDATA[]]></description>
         <enclosure url="https://qz.com/1646189/too-many-mangoes-in-philippines-thanks-to-el-nino/" />
         <pubDate>2019-07-02 02:43:29 UTC</pubDate>
         <guid>https://padlet.com/s10196221/cjucmhy6xl4e/wish/369895268</guid>
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         <title>Price elasticity graph</title>
         <author>s10196221</author>
         <link>https://padlet.com/s10196221/cjucmhy6xl4e/wish/370504632</link>
         <description><![CDATA[]]></description>
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         <pubDate>2019-07-08 10:54:26 UTC</pubDate>
         <guid>https://padlet.com/s10196221/cjucmhy6xl4e/wish/370504632</guid>
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         <title>Demand &amp; supply graph and</title>
         <author>s10196221</author>
         <link>https://padlet.com/s10196221/cjucmhy6xl4e/wish/370504703</link>
         <description><![CDATA[<div><strong> market equilibrium graph</strong></div>]]></description>
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         <pubDate>2019-07-08 10:55:28 UTC</pubDate>
         <guid>https://padlet.com/s10196221/cjucmhy6xl4e/wish/370504703</guid>
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         <title>Metro Mango Market Programme </title>
         <author>s10196572</author>
         <link>https://padlet.com/s10196221/cjucmhy6xl4e/wish/370532764</link>
         <description><![CDATA[<div>by the government</div>]]></description>
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         <pubDate>2019-07-08 15:48:58 UTC</pubDate>
         <guid>https://padlet.com/s10196221/cjucmhy6xl4e/wish/370532764</guid>
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         <title>Demand &amp; Supply</title>
         <author>s10196572</author>
         <link>https://padlet.com/s10196221/cjucmhy6xl4e/wish/370578972</link>
         <description><![CDATA[]]></description>
         <enclosure url="https://www.channelnewsasia.com/news/asia/philippines-mango-prices-oversupply-2-million-kg-el-nino-11614348" />
         <pubDate>2019-07-09 02:53:33 UTC</pubDate>
         <guid>https://padlet.com/s10196221/cjucmhy6xl4e/wish/370578972</guid>
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         <title>Residents giving away free mangoes</title>
         <author>s10196572</author>
         <link>https://padlet.com/s10196221/cjucmhy6xl4e/wish/370580661</link>
         <description><![CDATA[]]></description>
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         <pubDate>2019-07-09 03:10:14 UTC</pubDate>
         <guid>https://padlet.com/s10196221/cjucmhy6xl4e/wish/370580661</guid>
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         <title>Mango stall in the PH</title>
         <author>s10196572</author>
         <link>https://padlet.com/s10196221/cjucmhy6xl4e/wish/370582028</link>
         <description><![CDATA[]]></description>
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         <pubDate>2019-07-09 03:20:19 UTC</pubDate>
         <guid>https://padlet.com/s10196221/cjucmhy6xl4e/wish/370582028</guid>
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         <title>Japanese company importing mangoes</title>
         <author>s10196572</author>
         <link>https://padlet.com/s10196221/cjucmhy6xl4e/wish/370582731</link>
         <description><![CDATA[]]></description>
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         <pubDate>2019-07-09 03:27:01 UTC</pubDate>
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