Problem with palm oil

- A + A SINGAPORE (June 30): Palm oil resumed an advance as top producer Indonesia considers a plan to increase its biodiesel mandate, a move aimed at slashing its fuel import costs and soaking up bulging edible oil stockpiles. Futures for September delivery climbed as much as 1.5% to RM4,975 (US$1,129) a ton, reversing an earlier drop of 1.9%, before closing slightly higher. Indonesia may raise the required palm content in biodiesel to 35% from the current 30%, a ministry official said. This could tighten palm oil supplies. If the plan materializes, it will likely absorb an additional 1.5 million tons of crude palm oil on top of the 9.7 million to 10 million tons used for the current B30 mix, said Sathia Varqa, owner of Palm Oil Analytics in Singapore. Indonesia has ample stockpiles of around 7 million tons in May, so feedstock for biodiesel isn’t a problem, according to Varqa. “The main barrier would be a surge in crude palm oil exports limiting the feedstock … [Read more...] about Palm oil climbs as Indonesia considers raising biodiesel mandate

(Photo by Zahid Izzani/The Edge ) - A + A ARAU (June 30): The Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) is looking for solutions to tackle the problem of abuse of subsidised cooking oil to ensure that the issue does not recur, said KPDNHEP deputy minister Datuk Rosol Wahid. He said this included misappropriation committed by certain parties who mixed subsidised cooking oil with used cooking oil to be sold to biodiesel processing companies. Rosol said used cooking oil that was processed for the biodiesel industry is being sold at a higher price than subsidised cooking oil. "We have information that used cooking oil can reach up to RM4.20 per kilogramme (kg) compared to RM2.50 per kg for subsidised cooking oil," he said, adding that KPDNHEP is finding ways to resolve the problem. "Two days ago, KPDNHEP Johor busted a syndicate involved in the misappropriation of subsidised cooking oil in a raid mounted on a factory in Kota Masai, Pasir Gudang … [Read more...] about KPDNHEP finding total solutions to tackle abuse of subsidised cooking oil

- A + A KUALA LUMPUR (June 30): The government has warned palm oil millers that their operating licences may be suspended if they ceased buying oil palm fruits from smallholders following the sharp fall in the oil’s prices. Deputy Plantation Industries and Commodities Minister Datuk Seri Dr Wee Jeck Seng said the Malaysian Palm Oil Board (MPOB) issued a warning letter to the millers on Thursday (June 30), stressing that action will be taken against those found disrupting the country’s palm oil production. The millers were reminded to carry out their palm oil milling operations and comply with the legislative requirements under the Malaysian Palm Oil Act 1998 (Act 582), Wee said in a statement. Drastic action including suspension of licences would be taken against millers proven to have ceased operations, he said, noting such conduct would render the actual purpose of issuing the licences meaningless. "I view this matter seriously and request palm oil millers not … [Read more...] about MPOB to millers: Continue buying FFB or we will revoke your licence

- A + A KUALA LUMPUR (June 30): Here is a brief look at some corporate announcements and news flow on Thursday (June 30) which include iDimension Consolidated Bhd, Marine & General Bhd (M&G), Petronas Chemicals Group Bhd (PetChem), Mudajaya Group Bhd, Teck Guan Perdana Bhd, Farm Fresh Bhd, Reach Energy Bhd (REB) and Telekom Malaysia Bhd (TM). Information technology solutions provider iDimension Consolidated Bhd has regularised its financial condition and level of operations and hence, it no longer triggers any of the criteria under Paragraph 2.1 of Guidance Note 3 (GN3) of the ACE Market listing requirements. As such, it will be lifted from its GN3 status on Friday (July 1). Shipping firm Marine & General Bhd ( M&G ) returned to the black in its fourth financial quarter ended April 30, 2022 (4QFY22), registering a net profit of RM3.52 million compared with a net loss of RM10.27 million a year ago, mainly due to better vessel utilisation in the … [Read more...] about iDimension, Marine & General, PetChem, Mudajaya, Teck Guan, Farm Fresh, Reach Energy and TM

Representative image PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook In the March 2022 quarter, our coverage universe of 14 FMCG (excluding ITC) companies saw revenues, gross profit, EBITDA and net profit growing by 17 percent, 6 percent, 7 percent and 9 percent, respectively, year on year (YoY). Quarter on quarter (QoQ), growth remained flattish. Among individual companies, Adani Wilmar reported one of the highest revenues and gross profit growth of 40 percent and 26 percent, respectively. Tata Consumer Products saw an EBITDA (earnings before interest, taxes, depreciation and amortization) growth... … [Read more...] about FMCG Review: Some green shoots appearing, though not yet out of the woods

Share to Twitter Share to Linkedin Furtuna Skin cofounders Agatha Relota Luczo and Kim Walls are poised to make their luxury boutique skincare line the new standard in the plant-based clean beauty space. Between Luczo’s background as an international model and cofounder of the magical Bona Furtuna Olive Oil, and Walls’ pioneering work in clean beauty before ‘clean beauty’ was a recognized term, Furtuna Skin’s meteoric rise to superstar status was destined to happen. The brand launched in November 2019 and began making industry waves within a year, garnering recognition in the way of awards, press and a wildly loyal celebrity following. There’s a reason Furtuna Skin stands firmly by the tagline (which they’ve trademarked), “Wildly potent skincare.” “Our mission is to leave the people and places we touch better off than when we found them,” Walls explains. “We advocate for the health of humans, animals and the earth through our business practices, … [Read more...] about How Wildly Popular Furtuna Skin Is Changing Skincare Routines, While Making The World A Better Place

For hundreds of years, parents around the world have massaged their infants to soothe them and bond with them. But in the U.S., the practice isn’t very common. advertisement advertisement Elina Furman, founder of a new brand called Kahlmi , wants to change that. She’s developed a $150 device that’s basically a Theragun for little ones, with low vibrations and a soft silicone wand customized for a baby’s anatomy. It’s part of a wave of beautifully designed but expensive parenting tools–from the $1,5000 SNOO bassinet to the $140 Lovevery play mat–targeting millennial parents. A 2000 study found that upwards of 85% of Indian parents massage their newborns in the baby’s first week of life. They use gentle strokes with minimal pressure and coconut or sesame oil. Parents in the study believed that massage supported the baby’s bone strength, while also encouraging better sleep and growth. There’s some research that supports this: A 2016 meta analysis … [Read more...] about This $150 massage wand is like a Theragun for babies

The wet market in Old Town, Petaling Jaya, Selangor. According to Annuar, despite inflation rates being on the rise across the world, Malaysia is still among the countries with the lowest rates, which is at 2.8%. (Photo by Low Yen Yeing/The Edge) - A + A PUTRAJAYA (June 30): The government, through the Special Task Force on Jihad against Inflation, will strive to keep the inflation rate in Malaysia low and manageable to ensure the well-being of Malaysian families, Communications and Multimedia Minister Tan Sri Annuar Musa announced. Annuar, who is the chairman of the task force, said they would give attention to all prices of goods and services that could contribute to the increase in the inflation rate, apart from chicken, eggs and cooking oil. “We are also giving our assurance that we will continue taking a proactive approach to control and keep the country’s inflation at a low and manageable rate.” He said this at a press conference after chairing the task … [Read more...] about Annuar: Govt to ensure Malaysia’s inflation rate remains low, manageable

Commodity stocks including metals, miners and energy names have seen profit booking in the recent months even as supply problems are far from over while prices of commodities have been choppy. Nifty Commodities index, comprising names like Reliance Industries, ONGC, UltraTech cements, Vedanta and 26 others, has fallen about 23 per cent from 52-week highs hit in April –  at the height of Russia-Western World tensions. Commodity stocks – especially from metal and energy sectors – were among the biggest gainers in the recent boom in prices led by burgeoning demand after the pandemic. However, as the demand is plateauing, prices have also decreased for many commodities. Does that mean the super cycle in these names are over and investors should taper their expectations from now on, thus exiting the space? Not really, said analysts, who believe there could be another round of buying as the situation remains precarious. “Commodity stocks have already fallen from their recent … [Read more...] about As stocks trade off highs, is the rally in commodities over?

- A + A LONDON (June 30): Investors knew that, after two years of COVID-19 chaos, 2022 would be a bumpy ride, but nobody expected this - the most turbulent first half global markets have ever seen. To grasp just how torrid things have been, consider two things. MSCI's 47-country world stocks index has suffered its biggest 1H drop since its creation in 1990. At same time, 10-year U.S. Treasury bonds - the benchmark of global borrowing markets and traditional go-to asset in troubled times - have had their worst first half since 1788. Why? Russia's invasion of Ukraine supercharged what was already fast-rising inflation, forcing the big central banks to jack up interest rates and politicians to warn of new world orders. The result? A $13 trillion wipeout in world stocks, a 15.5% plunge Japan's yen, Italy's worst rout since the euro zone crisis, and what is shaping up to be the strongest commodities rally since World War I. Add to that Russia being gouged out the … [Read more...] about Markets in 1H: The almost perfect storm