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Tag Archives: commodities

India’s summer grains output seen at record 150.50 mln tonnes in 2021/22

NEW DELHI: Indian farmers are expected to harvest a record 150.50 million tonnes of grains from summer-sown crops in the crop year to June 2022, the government said on Tuesday, against 149.56 million tonnes gathered in the previous year.

In 2021/22, the output of summer-sown rice is estimated at a record 107.04 million tonnes, up from 104.41 million tonnes in 2020/21, the Ministry of Agriculture and Farmers' Welfare said in a statement.

Higher rice output will help India, the world's biggest exporter of the grain, boost the staple's shipments.

India looks likely to account for as much as 45% of global rice exports in 2021 as expanded port-handling capacity allows the world's biggest rice grower after China to ship record volumes to buyers across Afr

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Southern Steel registers RM47.9mil net profit in FY21

KUALA LUMPUR (Bernama) -- Southern Steel Bhd registered a net profit of RM47.93 million in the financial year 2021 (FY2021) compared to a net loss of RM467.06 million in FY2020, largely thanks to higher selling prices and cost improvement.

Revenue, however, was lower at RM1.74 billion from RM1.91 billion amid lower sales volume as compared with FY2020, the steel products manufacturer said in a filing with Bursa Malaysia today.

"In the fourth quarter (Q4) of FY2021, the group posted a net profit of RM24.47 million from a net loss of RM48.93 million, while revenue rose to RM358.09

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Southern Acids Q1 net profit climbs on higher commodity prices 

KUALA LUMPUR: Oleochemical and plantation company Southern Acids (M) Bhd said strong commodity prices boosted its sales and profits in the first quarter ended June 30.

Net profit soared 37% to RM23.5mil compared with RM17.2mil made a year ago. Revenue jumped to RM258mil from RM158mil previously.

The group said operating profit at its three core business oleochemical, healthcare as well as milling and estate operations, were more than doubled compared to the same quarter last year.

"We remain cautious on our prospects for the Oleochemical segment," the company said i

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CPO futures likely to see technical correction next week

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to experience a technical correction next week, ahead of the production data release.

Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa said markets will closely monitor the production data from the Malaysian Palm Oil Association (MPOA) and Southern Peninsula Palm Oil Millers' Association (SPPOMA) for the Sept 1-20 period.

"Next week's trading activities will be based on production assessment data by MPOA and SPPOMA with expectation for production to rise at a slower rate from last month,” he told Bernama.

Meanwhile, palm oil trader David Ng forecast CPO futures to trade in range-bound mode as ongoing supply concern in the near ter

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ACCCIM welcomes govt approval to bring in 32,000 foreign workers for plantation sector

KUALA LUMPUR (Bernama) -- The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) has welcomed the government's decision to grant special approval to bring in 32,000 foreign workers to ease the labour shortage in the plantation sector.

Minister of Human Resources Datuk Seri Saravanan Murugan has said that his ministry is drawing up standard operating procedures (SOPs), including identifying a 2,000-person capacity COVID-19 isolation centre near Kuala Lumpur International Airport (KLIA), to facilitate the bringing in of the foreign workers.

ACCCIM said in a statement today that the measure will provide relief to the plantation sector, including the palm oil industry, which had suffered financial and revenue losses as the shortages of wo

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Asia stocks bounce in early trade Tuesday, US$ dips on Fed rate hike doubts

Tuesday, 30 August 2016 SYDNEY: Asian shares bounced on Tuesday as doubts the Federal Reserve really would hike rates as soon as September undermined the dollar, while investors continued to count on more policy stimulus elsewhere in the world. MSCI’s broadest index of Asia-Pacific shares outside Japan  added 0.4 percent, …

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