Latest news with #400
Business Recorder
a day ago
- Business
- Business Recorder
Sugar price in capital soars to Rs210 per kg
ISLAMABAD: Sugar price in federal capital has reached Rs210 per kg level against government fixed price of Rs170, Business Recorder noted. According to retailers the distributors have stopped supplying sugar to the shopkeepers even at Rs9,000 per bag of 50kg which prior to government permission to the sugar millers was selling at Rs6,000 a year ago, but after attaining export permission and successfully exporting the allowed quantity, the millers gradually started escalating sugar prices and recently in wholesale market it touched Rs9,400 mark. The retail sugar prices after Ramadan 2025 have witnessed a sharp increase and reached from Rs135 per kg to Rs210 per kg mark an increase Rs75 per kg or 55 percent. Shopkeepers said that for a few days, the commodity price after government action came down but consequently owing to supply shortage by the sugar millers, the stockists/distributors also stopped supply of the commodity to the retailers, as a result now prices have touched all time high even on superstores. Business Recorder in April 2024 had mentioned the plan of the sugar industry of taking the ex-mill sugar price to Rs170 per 50 kg bag, saying that sugarcane prices have gone up from Rs350 per 40kg to Rs450. In a meeting of Sugar Advisory Board held on April 2024 'the millers argued that in 2023 sugarcane price was Rs350 per 40kg which now has reached to Rs450 per 40kg and production cost of sugar at present stands at Rs170 per kg while in retail market refined sugar was available in the range of Rs145-150 per kg which is lowest price in the world'. The Pakistan Sugar Mills Association (PSMA) prior to attaining sugar export permission had ensured the government of devising a mechanism where by price stability of sugar will be ensured before exporting surplus stock produced in the country. As per April 2024 SAB's meeting, the provinces and PSMA would ensure smooth supply of commodity in the domestic market and the price stability till start of next crushing season. It was agreed to seek authenticated data on available sugar stocks, including expected sugar production from beet, and recommendations regarding export from provinces before taking any final decision on the export of sugar. The representatives of PSMA informed the government officials that Pakistan at present has around 1.6 million tons of additional sugar which should be exported. The PSMA has asked the government to allow export of one million tons of refined sugar in first phase which will bring around $650-700 million foreign exchange for the country and rest of the 0.6 million tons sugar be exported in two phases in May and June 2024. The PSMA in 2024 also informed the government that if the government did not allow sugar export it will result in the smuggling of the commodity to Iran, Afghanistan and other countries as a result the country will be deprive of the precious foreign exchange while smugglers will take advantage of the situation. According to the officials, locally industrial sector was consuming 85 percent of the sugar while the rest 15 percent was of domestic use. Copyright Business Recorder, 2025
Barnama
a day ago
- Business
- Barnama
CPO Futures Close Higher On Stronger Soybean Oil Prices
By Nur Athirah Mohd Shaharuddin KUALA LUMPUR, July 29 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Tuesday on the back of stronger soybean oil prices, according to palm oil trader David Ng. However, he noted that expectations of rising production and subdued demand are limiting further price gains. "We see CPO prices supported above RM4,250 and resistance at RM4,400 a tonne," he told Bernama. At the close, the spot-month August contract gained RM38 to RM4,188 per tonne, September 2025 added RM8 to RM4,231 per tonne, and October 2025 edged up RM12 to RM4,254 per tonne. The November 2025 contract increased RM16 to RM4,269 per tonne, December 2025 climbed RM19 to RM4,279 per tonne, and January 2026 put on RM21 to RM4,284 per tonne. Trading volume jumped to 61,890 lots from 48,430 lots on Monday, while open interest slipped to 224,301 contracts from 226,093 contracts previously. The physical CPO price for July South rose RM10 to RM4,210 per tonne. -- BERNAMA
Daily Express
5 days ago
- Sport
- Daily Express
Organisers delighted with the overwhelming response
Published on: Saturday, July 26, 2025 Published on: Sat, Jul 26, 2025 Text Size: Each category is limited to 32 entries and as at press time, only the girls' Under-18 category (born between 2007 and 2011) has less than 10 slots remaining, while other categories — boys Under-18, Under-13 and Under-10 as well as girls Under-13 and Under-10 are no longer available. - Pic for illustration only. Kota Kinabalu: The Datuk Simon Chee Chi Nyen, J.P. Cup Sabah Youth Table Tennis competition has set a new record as five of the six categories to be staged were filled up within an hour after it was opened for registration on Friday at 12 noon. The tournament to be held on August 24 at Kian Kok Middle School hall, which offered a record total cash prize of RM8,400 is co-organised by Kota Kinabalu Hokkien Association Youth Section and Alan Table Tennis Club. Each category is limited to 32 entries and as at press time, only the girls' Under-18 category (born between 2007 and 2011) has less than 10 slots remaining, while other categories — boys Under-18, Under-13 and Under-10 as well as girls Under-13 and Under-10 are no longer available. The confirmation is based on successful payment and those who have registered may verify their status via the official Google Form link, or check the Kota Kinabalu Hokkien Association Facebook page for updates. Those who are not able to secure a spot may contact Alan Au at 016-8322356 for a possible waiting list or alternative arrangements. Meanwhile, competition organising chairperson Clarence Wong was delighted with the overwhelming response. 'It has exceeded our expectations with all but one of the categories filled up within an hour after it was officially open for registration. 'It clearly showed the passion and growing talent pool in Sabah's youth table tennis scene. We hope this tournament will encourage more students to put down their phones and devices and take up healthy, active lifestyles through sport,' he said. He also urged all confirmed participants to attend the draw and the competition, which he said has set a new milestone in Sabah youth table tennis history. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
TimesLIVE
23-07-2025
- Automotive
- TimesLIVE
Trump tariffs take a $1bn bite out of GM earnings; shares fall
General Motors' second quarter earnings took a $1.1bn (R19,305,825,000) hit from tariffs, but the carmaker beat analyst expectations for the period, supported by strong sales of its core petrol trucks and SUVs. The largest US carmaker by sales said it expects the tariff impact to worsen in the third quarter and stuck to a previous estimate that trade headwinds threaten to hit the bottom line by $4bn (R70,198,998,400) to $5bn (R87,748,748,000). GM said it could take steps to mitigate at least 30% of the impact. Shares fell about 6% in early trading. The carmaker's revenue in the quarter ended June 30 fell nearly 2% to about $47bn (R824,838,231,200) from a year ago. Its quarterly adjusted earnings per share fell to $2.53 (R44.40) compared with $3.06 (R53,71) a year earlier. Analysts on average expected adjusted profit of $2.44 (R42,82) per share, according to data compiled by LSEG. GM's adjusted earnings before interest and taxes was among corporations that revised annual guidance due to the impact from US President Donald Trump's tariffs, lowering it to an annual adjusted core profit of between $10bn (R175,501,993,000) and $12.5bn (R219,377,491,250). The company on Tuesday stood by the forecast. Beyond tariffs, GM's underlying business in the quarter was solid. Sales in the US market – its main profit centre – rose 7%, while the company continued to command strong pricing on its pickup trucks and SUVs. GM swung back to a small profit in China, after losing money there a year before. Analysts said GM may need to cut investment in future projects or find other ways to trim spending to offset the effect of tariffs. Jeep-maker Stellantis on Monday warned tariffs would significantly affect results in the second half of 2025, and said tariffs cost it about €300m (R6,177,180,000) in the first half of the year. Shares of rival Ford Motor and US-traded shares of Stellantis fell about 1% on Tuesday morning. The carmaker took steps in recent months to bolster its combustion-engine operations through increased investment in its US factory base, calling into question its goal of ending the production of petrol-powered cars and trucks by 2035. GM announced in June it would invest $4bn at three US facilities in Michigan, Kansas and Tennessee, including a plan to move production of the Cadillac Escalade and increase output of its two big pickup trucks. It added production of its previously Mexico-produced Chevy Blazer to the Tennessee plant. The carmaker imports about half the vehicles it sells in the US, mainly from Mexico and South Korea. Crosstown rival Ford produces about 80% of its US-sold vehicles domestically. Car companies are increasingly shifting their focus to bolstering the core lineup of petrol trucks and SUVs as the growth rate of EV sales has slowed. Demand for battery-powered models has slowed after rapid growth earlier this decade. The trend is intensified by the pending disappearance of government support for the battery-powered models. Sweeping tax and budget legislation approved by the US Congress will eliminate $7,500 (R131,658) tax credits for buying or leasing new electric vehicles and a $4,000 (R70,217) used-EV credit at the end of September.
The Star
22-07-2025
- Business
- The Star
Sarawak Plantation eyes long-term expansion
Phillip Capital Research maintains its projection of CPO growth to be at 15% y-o-y to 122,000 tonnes in 2025. PETALING JAYA: Phillip Capital Research is positive on Sarawak Plantation Bhd 's medium-to-long-term prospects, underpinned by improving yields, disciplined cost control and sustained replanting efforts that are beginning to bear fruit. 'We project the company's fresh fruit bunch (FFB) production to rise to 378,000 tonnes in 2025, an increase of 12% year-on-year (y-o-y), supported by improving yields as more palms enter their prime age and about 1,100 ha of newly matured areas come into production. 'Management remains confident in its growth outlook, targeting more than 420,000 tonnes by 2026 and more than 550,000 tonnes by 2029, underpinned by a more favourable age profile, better field practices and continued mechanisation gains,' the research house said. Replanting efforts over recent years are also starting to bear fruit through improved productivity. While the group has revised its 2025 FFB guidance to 380,000 tonnes (from 400,000 tonnes) due to wetter-than-expected conditions in the first quarter of financial year 2025 (1Q25), crude palm oil (CPO) output is expected to remain flat y-o-y, supported by steady external FFB volumes. 'We expect a sequential recovery in 2Q25, in line with seasonal trends (year-to-date May FFB stood at 131,000 tonnes, a 7.9% rise y-o-y). 'We maintain our projection of CPO growth to be at 15% y-o-y to 122,000 tonnes in 2025.' Overall, the CPO unit cost of own crops is expected to fall to RM2,400 to RM2,500 per tonne in 2025, from RM2,800 per tonne in 2024 and RM2,300 per tonne in 2026, supported by volume recovery and a higher internal FFB share. 'While the February 2025 minimum wage hike is expected to raise labour costs by 3% to 4%, field efficiencies and disciplined cost control are expected to preserve margins. Fertiliser cost pressure remains manageable, with mixed price trends across key input types,' the research house noted. Phillip Capital is maintaining its 'buy' rating with an unchanged target price of RM2.88, based on nine times 2026 earnings per share, in line with small-cap upstream peers. 'Key downside risks include lower-than-expected production and palm product prices, cost inflation and regulatory headwinds,' the research house added.
