‘Di na natuto sa Quorn! Monde invests P108M for tiny stake in koji-based fake meat maker Terramino

Monde Nissin (MONDE) of bilyonaryo Betty Ang has made a token investment in another fungi-based alternative meat product.

MONDE disclosed that it has invested $2 million (around P108 million) for a 1.89 percent stake in Terramino, Inc.

ALSO READ: Betty Ang’s fake meat flop! Monde chucks Quorn’s 2023 opex amid stinking sales, diverts P2.1 billion budget to core brands in Asia

The California-based firm is engaged in research, development and commercialization of food products made from koji, a type of fungus used as a natural flavor enhancer and meat substitute.

MONDE had previously invested P39 billion for a British meat alternative, Quorn, which is derived from a natural micro-fungus called Fusarium Venenatu.

Inflation eases to 6.1% in May

The country’s inflation rate eased to 6.1 percent in May, the lowest year-on-year figure recorded since July 2022, according to a report released by the Philippine Statistics Authority (PSA).

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