Food and beverage manufacturing

Share to Twitter Share to Linkedin Since former U.S. President Donald J. Trump signed the 2018 Farm Bill that legalized hemp at the federal level, the hemp industry seems to have flourished all over the country. The United States Department of Agriculture (USDA) estimated that the total value of hemp production is worth $824 million in 2021. The demand for CBD-based products has driven the industry's production and sales, despite the U.S. Food and Drug Administration (FDA) has not yet allowed CBD in foods, beverages, or dietary supplements . Furthermore, the 2018 Farm Bill also triggered the production and sales of minor cannabinoids with intoxicatingly psychoactive effects, such as delta-8 THC and THC-O-acetate . These products created a grey market as they are used as an alternative to recreational cannabis, especially by consumers who live in those U.S. states that have yet to churn out adult-use cannabis legislation. But last … [Read more...] about How The 2023 Farm Bill May Reshape The Hemp Industry

Share to Twitter Share to Linkedin Jaclyn Baumgarten has many fond childhood memories of boating with her family but as an adult she found recreating those experiences to be tricky. “I still wanted the opportunity to get out on the water,” said Baumgarten. “But I didn't have the resources to do it on my own.” While she had the means of a disposable income, through her career in corporate real estate, Baumgarten said that she still felt that boating was out of her financial reach. In 2012, Baumgarten sold her condo to obtain seed capital for her business plan that is now Boatsetter . The online marketplace is designed as a network hub for boat owners, renters and captains with an inventory of over 50,000 boats in 700 locations across the United States, Caribbean, Mexico and the Mediterranean. Along with accessing funding, Baumgarten started learning everything she could about both commercial maritime and recreational maritime insurance and pitching … [Read more...] about Boatsetter Founder Is Making Boat Rentals More Publicly Accessible

A customer shopping for groceries at a store in Seoul on Monday. Inflation in June rose 6 percent, the highest in 24 years. [YONHAP] Inflation hit a 24-year high in June as prices, especially of commodities, rose globally and the won declined to a 13-year low. Korean consumer prices were up 6.0 percent in June on year, according to Statistic Korea Tuesday. The last time they rose at this pace was in 1998, as country was in the depths of the Asian financial crisis. Prices rose across the board, with everything from manufactured goods to groceries becoming more expensive. "Rising international crude prices are not only affecting energy prices but influencing manufactured goods and even groceries," said Eo Woon-sun, head of the short-term economic statistics bureau at Statistics Korea. Transportation costs were up 16.8 percent on year, food and non-alcoholic beverage prices 6.5 percent, clothing and footwear 3.1 and communications 1.0 percent. No decline was reported in any … [Read more...] about Korean inflation hits 6 percent in June, a 24-year high

Universal Robina Corp. (URC), one of the Philippines’ largest food and beverage companies, has kicked off a slew of initiatives to collect, recover and divert plastic waste as part of its overall goal to achieve plastic neutrality. These include long-term collaborative projects on waste management that cover community engagement and linking with local recyclers. “We are aiming to make lasting, concrete changes on an institutional level, in a way that affects all operations and demonstrates our resolve as a world-class manufacturer,” said Irwin Lee, URC’s “The culminating goal is to establish a sustainable value chain within a few year,” Lee added. With “Juan Goal for Plastic”, URC hopes to help convert post-consumer waste into something useful, and to be an active part of consumers’ collect-and-recycle activities. Under this program, several plastic collection sites have been set up in the country, with more to be opened within the year. Through its La Carlota sugar … [Read more...] about URC kicks off ‘plastic neutrality’ initiatives

Oatly’s oat milk is among 53 products being yanked from shelves nationwide over possible bacterial contamination. The Food and Drug Administration (FDA) says that Oatly’s Oat Milk Barista Edition—plus several other brands’ nondairy specialty beverages, including bottled cold brew by Stumptown and Intelligentsia and several Aloha plant-based milks—have been recalled by the California-based manufacturer of these products, Lyons Magnus. advertisement advertisement Lyons issued the recall voluntarily after acknowledging that those products failed to meet commercial sterility benchmarks in a routine test, putting them at risk of contamination with cronobacter. If that particular genus of bacterium sounds familiar, it’s because America’s baby formula shortage was partly caused by Abbott also recalling popular formulas over cronobacter contamination fears. Though rare, cronobacter infections can cause symptoms that run from fever and vomiting to UTIs. … [Read more...] about Spilled milk: Oatly recall and missed earnings cap a tough week for the popular brand

Representative image Consumer Price Index-based inflation (CPI) for the month of March came in at 5.52 percent, rising from February's 5.03 percent. Official data released on April 12 shows that retail inflation in March stayed within the Reserve Bank of India's (RBI) medium term inflation target of 4(+/-2 per cent) for the fourth consecutive month. The combined food price inflation rose to 4.94 percent in March, as compared to 3.87 percent in February. The upswing in food inflation was driven by the month-on-month rise in prices of oils and fats - which rose by 24.92 per cent in March - followed by the 15.09 per cent in prices of meat and fish, as per the data shared by the National Statistical Office (NSO) and Ministry of Statistics and Programme Implementation (MoSPI). The non-alcoholic beverages segment surged by 14.41 percent, egg prices rose by 10.60 percent, fruits by 7.86 percent and pulses and products segment by 13.25 percent. However, the prices of vegetables … [Read more...] about March CPI inflation at 5.52%, up from February’s 5.03%

This article first appeared in Forum, The Edge Malaysia Weekly, on August 8, 2022 - August 14, 2022. - A + A As Singapore approaches its 57th birthday, it faces a more troubled operating environment. This is the product of a dizzying series of events in the past six months which saw geopolitical conflicts, a decisive monetary tightening, high energy prices and growing risks in China. While Singapore’s economy starts off from a strong position in 2022, the going will get tougher as we move into 2023 and beyond. Nevertheless, the republic should adopt a positive approach, taking the more challenging environment as an opportunity to undertake reforms to strengthen its ability to accommodate the changed world. Singapore must deal with a world that has been decisively transformed First, worsening tensions among the world’s big powers have created a more dangerous world for Singapore. Russia’s “special military operation” in Ukraine has put it in conflict … [Read more...] about My Say: Singapore at 57: Looking ahead with confidence

- A + A KUALA LUMPUR (Aug 9): The Malaysian Plastics Manufacturers Association (MPMA) call on the government to expeditiously ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to enable the plastics industry in Malaysia to reap the benefits of the agreement. President Datuk Lim Kok Boon said MPMA fully supports the ratification of the CPTPP, as manufacturers of plastic products are expected to gain from the elimination of tariffs, as well as gain new market access. “I anticipate that CPTPP will open market access to Canada, Mexico and Peru for plastics exporters. All three countries are net importers of plastic products. “The tariff for plastic products will be eliminated immediately from a maximum of 6.5% for Canada upon Malaysia’s ratification, while the 15% tariff for Mexico and 9% tariff for Peru will be reduced gradually over a period of 10 years,” he said in a statement on Tuesday (Aug 9). He said demand for plastic … [Read more...] about MPMA calls on govt to expedite the ratification of CPTPP

Accelerating inflation has cooled the Philippines’ second-quarter economic growth to 7.4 percent, below market expectations, the government reported on Tuesday. Gross domestic product (GDP) expansion during the April-to-June period was lower than 8.2 percent a quarter ago and 12.1 percent a year ago, National Statistician Dennis Mapa said in a press briefing. The majority of economists watching the Philippines had projected a sustained above 8-percent growth for the second quarter. Also, Mapa said second-quarter GDP or the total goods and services produced in the country was smaller than the first-quarter output by 0.1 percent. “Transportation and storage, manufacturing, human health and social work activities were the top contributors to the [quarter-on-quarter] decline,” the Philippine Statistics Authority (PSA) said in a statement. Socioeconomic Planning Secretary Arsenio Balisacan nonetheless noted that the Philippines was the second-fastest growing economy in emerging … [Read more...] about Soaring inflation cools PH Q2 GDP growth to 7.4%

Share to Twitter Share to Linkedin This story is part of Forbes' coverage of Asia's Best Under A Billion 2022, which highlights 200 Asia-Pacific public companies with less than $1 billion in sales and consistent top- and bottom-line growth. See the full list, sorted alphabetically, here . As Covid-19 restrictions ease across the Asia-Pacific and people adapt to the new normal, this year’s annual Best Under A Billion list highlights the shift to discretionary spending. While healthcare and pharmaceutical-related companies were standouts last year, the post-pandemic return to daily life has benefitted apparel makers, mall operators, restaurants, consumer electronics and entertainment companies, among others. This year’s list includes 75 returnees from the prior year, reflecting their resiliency in a fast-changing environment, such as Taiwan’s Aspeed, which has made Best Under A Billion for a notable nine consecutive years. We've highlighted … [Read more...] about Forbes Asia’s Best Under A Billion 2022