Thailand

India's sugar industry and government clash over jute bags

India, which is the largest sugar consumer in the world, has seen the federal government and jute bag producers go to court over an issue that has been a source of contention: Jute bags. The government of Prime Minister Narendra Modi has tightened the enforcement of a law from 1987, which requires sugar mills pack 20% of their supply in jute bag or pay fines if they do not comply. This is in an effort to support traditional fibres. Indian sugar mills have filed a lawsuit challenging the law, claiming that using jute bags costs them $76 million more per
Mineral Resources

Pandora's annual U.S. Tariff Impact is $178 Mln
Dealers say that India's palm oil imports in March rose but remained below normal levels.

Five dealers report that India's imports of palm oil in March were up from the previous months, but they remained below the normal level for the fourth month running. The premium it commands over soyoil has prompted refiners and buyers to increase their soyoil purchases. India's lower-than-normal imports of palm oil, the world’s largest buyer of vegetable oil, could put pressure on Malaysian palm prices and support U.S. soybean oil futures. According to estimates by dealers, palm oil imports rose 13.2% in March to 423,000 metric tonnes. Dealers had anticipated that imports would exceed 500,000 tons in March. The Solvent
Mining

Indonesian miners' group calls on government to reconsider proposed royalty increase
India's edible oils imports have fallen to their lowest level in four years, reducing inventories

India's edible oils imports plunged in February to the lowest level since four years. Soyoil and Sunflower oil imports were the main culprits. This pushed inventories down to their lowest levels in three years. The world's largest buyer of vegetable oil has depleted its stocks after a second consecutive month with lower-than-normal imports. India may be forced to increase its purchases of palm oil and soyoil in the near future, which could support prices for both. Solvent Extractors' Association of India said that the country's imports of palm oil last month increased 35.7% compared to January, reaching 373,549 metric tonnes.
Oil & Gas

Sources say that Itochu will not participate in the Seven & i Buyout.

Two sources familiar with the matter have confirmed that Japan's Itochu has withdrawn from a proposed buyout of Seven & i Holdings by the founding family. Seven & i founders Ito family started talks with the Canadian company Alimentation Couche-Tard to privatize the company for a reported $58 billion. Nikkei reported on Wednesday morning that Itochu decided to not participate in the purchase. Nikkei reported that Itochu considered investing 1 trillion yen (6.69 billion dollars) but saw little synergy between its food and beverages business and Seven & i. Seven & i & Itochu declined comment. Itochu's decision not to
US tariffs solar panels imported from Southeast Asian countries (Nov 29, 2018)

Energy Markets

Thailand yet to finalise regards to multilateral tidy power handle Singapore

Thailand is yet to settle regards to an extension to a multilateral deal with Singapore to import hydropower from Laos through Malaysia and Thailand, a senior Thai federal government authorities informed Reuters on Tuesday. Singapore's Energy Markets Authority (EMA) stated last month it would double the capability of electricity traded as a part of the second phase of the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project (LTMS) through extra supply from Malaysia. Singapore have arrangement with Malaysia, but for Thailand ... we're still in conversation within our nation with the firms, Sompop Pattanariyankool, Thailand's deputy long-term energy secretary stated on the sidelines...

Renewable Fuels

India enables ethanol production from walking stick juice

India will allow sugar mills to use walking stick juice or syrup to produce ethanol in the new marketing year beginning Nov. 1, the government stated in a. alert on Thursday. The world's second-biggest sugar manufacturer enforced. restrictions on diverting sugar for ethanol production in. December 2023 to increase sugar output after cane crop was hit. by below-average monsoon rains. In the new season, distilleries can likewise use B-heavy. molasses, a byproduct with greater sucrose levels, for ethanol. production, the government said in the notice. Around 750,000 metric tons of B-heavy molasses are lying in. stock with mills after the...

Crude Oil

Saudi Arabia signs up with BIS- and China-led central bank digital currency job

Saudi Arabia has signed up with a. Chinadominated central bank digital currency crossborder. trial, in what could be another action towards less of the world's. oil trade being carried out in U.S. dollars. The move, revealed by the Bank for International. Settlements on Wednesday, will see Saudi's central bank ended up being a. full participant of Task mBridge, a partnership released. in 2021 between the central banks of China, Hong Kong, Thailand. and the United Arab Emirates. The BIS, a global central bank umbrella organisation which. manages the project, also announced that mBridge had actually reached. minimum feasible item phase,...

Energy Markets

Saudi Arabia joins BIS-led reserve bank digital currency trial

Saudi Arabia has actually joined a. major BISled reserve bank digital currency crossborder trial,. in what might be another action towards less of the world's oil. trade being performed in U.S. dollars. The relocation, announced by the Bank for International. Settlements on Wednesday, will see Saudi's central bank become a. full participant of Job mBridge, a collaboration launched. in 2021 between the central banks of China, Hong Kong, Thailand. and the United Arab Emirates. The BIS, an international reserve bank umbrella organisation which. supervises the project, likewise announced that mBridge had actually reached. minimum practical product phase, indicating it will...

Energy Markets

VEGOILS-Palm oil extends gains on demand hopes, weak Malaysian ringgit

Malaysian palm oil futures extended gains on Friday due to the weakness of the Malaysian ringgit and expectations of enhanced demand after the costs of rival soft oils rallied more than palm oil today. The benchmark palm oil agreement for August delivery on the Bursa Malaysia Derivatives Exchange was up 21 ringgit, or 0.54%, at 3,915 ringgit ($ 829.98) a metric lot by mid-day break. Till a few weeks earlier, palm oil was losing market share due to its premium over soyoil and sunflower oil, said a New Delhi-based trader. It has begun regaining market share now that it is...

Energy Markets

VEGOILS-Palm increases on weaker Malaysian ringgit, need hopes

Malaysian palm oil futures rose on Thursday due to weakness in the Malaysian ringgit and expectations of enhanced demand as the tropical oil began trading at a discount to rival soft oils. The benchmark palm oil contract for August shipment on the Bursa Malaysia Derivatives Exchange was up 26 ringgit, or 0.67%, at 3,894 ringgit ($ 826.75) a metric load by midday break. The sharp drop in the Malaysian ringgit is supplying support to palm oil and balancing out the effect of weak point in U.S. soyoil futures, said a Mumbai-based trader. The Malaysian ringgit, palm's currency of trade, weakened...

Energy Markets

Evacuation bought after blaze at Thai chemical tank facility

An evacuation was bought for communities near a fire at a chemical tank terminal that killed a single person in Thailand's eastern Rayong province, as the blaze was most likely to spread out, the industry ministry said on Thursday. Someone was verified dead and 3 hospitalised according to a declaration from Siam Cement Group, whose subsidiary owns the center. It said all activities had actually been suspended and the firm had right away controlled the situation. The storage terminal is located in the vast Map Ta Phut industrial zone on Thailand's eastern coast. The blaze started late morning, volunteer firefighters...

Energy Markets

Evacuation bought after blaze at Thai chemical tank facility

Dreyfus projects little global sugar supply, sees Brazil crop unsure

The global sugar market will have a little surplus in 2024/25 at 800,000 metric loads versus a. surplus of 2.5 million loads in 2023/24, commodities trader Louis. Dreyfus stated on Tuesday, adding the outlook for Brazil was still. unpredictable. Greater production in Thailand and Europe due to increased. planting of walking stick and beet will be partly balanced out in 2024/25. ( October-September) by falling output in India if the Indian. government keeps its ethanol program as planned, stated Dreyfus'. head of sugar Enrico Biancheri in a presentation throughout New York. Sugar Week. Dreyfus approximates Thailand will produce 1.6 million...

Thailand to select previous energy executive Pichai financing minister, sources state

Thailand will name former corporate energy executive and central bank board member Pichai Chunhavajira as its new financing minister, taking control of the function from Prime Minister Srettha Thavisin, 2 government sources told on Thursday Pichai, 75, who has actually been Srettha's consultant, on Thursday. resigned as both chair of the board of Bangchak Corporation a post he held given that 2012, and the board of the Stock Exchange of Thailand. The government sources decreased to be determined because they were not authorised to speak with media on the issue. A federal government representative declined to comment and contacts us...

Chevron hands Myanmar gas field stake to junta, Thailand's PTTEP

U.S. energy company Chevron has actually stopped the Yadana natural gas field in Myanmar, a representative stated on Monday, more than 2 years after it condemned violence and human rights abuses there and announced it would leave. Rather than being sold, Chevron's 41.1% stake in the gas field was rearranged to the staying shareholders, Thailand's PTT Expedition and Production and state-owned Myanma Oil and Gas Business (MOGE). PTTEP, operator of the gas field, said on Friday its stake in Yadana had increased to 62.96%. The withdrawal offers effect to our objective to exit Myanmar in a controlled and orderly way,...

REFILE-Thai PM says central bank ought to cut rates to assist financial revival

Thai Prime Minister Srettha Thavisin stated the reserve bank ought to cut its key rate of interest by a minimum of a quarter point today to support federal government efforts to revive Southeast Asia's secondlargest economy. Offered the inflation numbers, which are still unfavorable, my expectation is possibly not even 0.25 (point cut), possibly 0.5, because it's long overdue. It must have been cut because late in 2015, Srettha, 62, informed in an exclusive interview. The Bank of Thailand has actually up until now resisted government pressure to reduce policy, holding it benchmark rates of interest at 2.50% in February,...

Thai PM: reserve bank should cut rates by at least 25 bps

Thai Prime Minister Srettha Thavisin told the reserve bank must cut its key rates of interest by at least a quarter point this week as the federal government advances with a flagship handout plan worth 500 billion baht ($ 13.6 billion) to restore Southeast Asia's. secondlargest economy, which lags the area. The digital wallet program will be rolled out in the. final quarter of the year however will not be funded by a loan. expense, Srettha said on Sunday, adding that the funding sources. will be settled at a conference on Wednesday, the same day as the. reserve bank's financial...

Oil & Gas

India greatly raises import tax on edible oils to support farmers

India has raised the fundamental import tax on crude and fine-tuned edible oils by 20 portion points, the government stated on Friday, as the world's greatest edible oil importer attempts to assist secure farmers reeling from lower oilseed prices The move could lift edible oil prices and dampen need and consequently decrease abroad purchases of palm oil, soyoil and sunflower oil. After the duty walking announcement, Chicago Board of Trade soyoil extended losses and fell more than 2%. New Delhi on Friday imposed a 20% fundamental customs task on crude palm oil, crude soyoil and unrefined sunflower oil from Sept....

Oil & Gas

Extreme Asian heat spurs LNG demand ahead of summer months

Severe temperature levels throughout Asia are driving up melted gas (LNG) demand in the region as importers look for freights ahead of summertime, with imports in South Asia hitting records. This could tighten readily available supply and additional lift Asian spot prices that have currently gotten a third considering that April, with heatwaves across South and Southeast Asia boosting air-conditioner use and other cooling demand. Costs are now at a near six-month peak above $12 per million British thermal systems (mmBtu) and are anticipated to stay raised. Spot prices are now driven by Asian demand. Temperature levels in South Asia...

Fossil Fuels

MORNING BID ASIA-Markets mull potential United States 'no landing'

A take a look at the day ahead in Asian markets. Trading in Asia begins on Monday with the worldwide macro and market landscape all of a sudden appearing really various from how it searched Friday, thanks to a set of U.S. work figures that not even the most bullish of forecasters expected. The September non-farm payrolls report on Friday was unequivocally strong on all fronts, and throws into doubt the projected path for U.S. rate of interest that financiers - and possibly the Fed too - had started to settle on. The instant shift in U.S. rate futures markets...

Fossil Fuels

Thailand to expand state equity fund to purchase regional stocks

Thailand's cabinet on Tuesday consented to increase the size of a current federal government equity mutual fund to invest in Thai stocks, a deputy financing minister stated, as the government looks for to support Asia's worst carrying out bourse this year. The fund will be positive for the capital market and offer a choice for savings, Paopoom Rojanasakul told reporters, without divulging the increased fund quantity. Finance Minister Pichai Chunhavajira has previously stated the size of the Vayupak Mutual Fund would be raised by 100 billion baht ($ 2.84 billion) to 150 billion baht. Pichai and other officials will hold...

Fossil Fuels

MORNING BID ASIA-Resilience vs quarter-end caution

A look at the day ahead in Asian markets. The very first meaning that appears in an online search for the meaning of durability is the capacity to withstand or to recover rapidly from troubles; durability. In worldwide markets today, one word probably is adequate: Nasdaq or Nvidia. Shares in the world's AI and chip beloved roared back 6.8%. on Tuesday for their best day in a month, enough to recover the. previous day's downturn, narrow the current correction, and set the. tone for a tech-led increase in U.S. and international equities. There was no fresh news or motivation behind...

Environment

VEGOILS-Palm oil removes early gains to end lower on increasing output

Malaysian palm oil futures removed early gains to end lower on Friday as a healing in production offset the weak point of the Malaysian ringgit and expectations of improved need after the costs of competing soft oils rallied more than palm oil this week. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was down 8 ringgit, or 0.21%, at 3,886 ringgit ($ 825.05) metric ton after increasing to 3,932 ringgit previously in the day. Malaysia's palm oil production is anticipated to jump in May, despite the fact that exports were weak in the first...

VEGOILS-Palm oil extends gains on weak Malaysian ringgit, demand hopes

Malaysian palm oil futures extended gains in early trade on Friday due to the weak point of the Malaysian ringgit and expectations of better demand after the prices of rival soft oils rallied more than palm oil this week. The benchmark palm oil agreement for August shipment on the Bursa Malaysia Derivatives Exchange was up 21 ringgit, or 0.54%, at 3,915 ringgit ($ 830.33) a metric ton throughout the morning trade. BASICS * The Malaysian ringgit, palm's currency of trade, weakened 0.28% versus the dollar. A weaker ringgit makes palm oil more attractive for foreign currency holders. * Malaysian palm...

'Boiling not warming': Marine life suffers as Thai sea temperature levels struck record

Marine life from reef to fish along Thailand's eastern gulf coast is suffering as sea surface area temperatures hit record highs this month amidst a regional heatwave, fretting scientists and regional neighborhoods. The as soon as vibrant and colourful corals, about 5 metres (16. feet) undersea, have turned white in a phenomenon referred to as. coral lightening, a sign that their health was weakening, due. to higher water temperatures, scientists state. Sea surface area temperatures in the Eastern Gulf of Thailand. reached 32.73 ° C( 90.91 ° F) earlier this month while underwater. readings are somewhat warmer, with dive computers...

United States solar panel makers look for import tariffs to protect brand-new domestic factories

Some of the world's biggest solar equipment makers on Wednesday asked President Joe Biden's. administration to impose tariffs on panels and cells from four. Asian countries to secure billions of dollars in financial investments in. U.S. manufacturing. 7 companies - Korea's Hanwha Qcells,. Switzerland's Meyer Burger, Norway's REC Silicon. and U.S. companies First Solar Inc, Convalt. Energy, Objective Solar and Swift Solar - are behind the petitions. filed with the U.S. Department of Commerce and the International. Trade Commission, they stated in a declaration. The American Alliance for Solar Manufacturing Trade. Committee is implicating Chinese companies with factories in. Malaysia,...

Thai scuba divers look for to take on 'ghost equipment' threatening marine life

Underneath the surface of the blue-green waters off a beach on Thailand's. holiday island of Phuket, divers laboriously gather abandoned. fishing gear, much of it made from plastic, that is tangled on. coral and trapping sea life. This discarded or lost fishing equipment is known in your area as. ghost gear and is a growing issue in waters off Thailand and. beyond, capturing marine life and contributing to microplastics. pollution as webs and ropes break down gradually. According to Thailand's Department of Marine and Coastal. Resources, estimates of the portion of threatened marine life. impacted by plastic contamination in the...

Thai scientists reproduce coral in laboratories to restore abject reefs

On a stellar night, 4 Thai marine biologists scuba dived through shallow waters off an island in the country's south as billions of pink specks floated up from the ocean floor in a. spectacle that occurs just when a year. The pink specks were sperm and eggs released by coral. The. scientists collected as many samples as possible for breeding,. as they battle to save Thailand's extensive reefs from. degradation driven by warming oceans and human activity like. tourism. Their research study is painstaking because the coral only generate. once a year, and it can take up to 5 years...

Renewable Energy

Thailand exploring small modular nuclear reactor technology, states PM

Thailand is checking out small modular nuclear reactor technology as Southeast Asia's. secondlargest economy seeks to diversify its energy mix amid. diminishing reserves of gas that produces much of its. power, Prime Minister Srettha Thavisin said. Our green shift objective is one of the most ambitious in. Southeast Asia, and we have a detailed roadmap in place to. have 50% of energy production be eco-friendly by 2040, Srettha. stated in a speech on Friday at an American Chamber of Commerce. event in Bangkok. Together with green hydrogen and battery storage services, the. nation is looking at small modular reactor (SMR)...

Renewable Energy

White House moves to secure US solar producers from Chinese competition

The White Home on Thursday stated it would secure domestic solar factories from Chinese competitors by scrapping a tariff exemption for imported doublesided panels and making it much easier for jobs to declare a subsidy for utilizing Americanmade products. The relocations come as President Joe Biden touts his economic policies ahead of a November election versus his predecessor, former President Donald Trump. As part of the battle against environment change, Biden has actually looked for to broaden financial investment in the production of clean energy products, intending to lower the country's reliance on Chinese-made goods. The White House stated it...

Renewable Energy

China's EV strategy of going little and inexpensive to pay big dividends in Asia: Russell

China's. dominance of international electric lorry production and sales is an. established reality, however a brand-new International Energy Agency (IEA). report points to the nation extending its influence in vehicles. throughout the fastgrowing economies of Asia. The IEA's Global Electric Lorry (EV) Outlook 2024 report,. released on Tuesday, shows that China represented 60% of all. EV sales in 2023, and its fast uptake will continue, with one. in three vehicles on China's roadways in 2030 expected to be electric. Maybe more considerably the IEA sees China's influence. and lead in EVs spreading out throughout Asia as it leverages its. vast...

Thailand

India's sugar industry and government clash over jute bags

Pandora's annual U.S. Tariff Impact is $178 Mln

Dealers say that India's palm oil imports in March rose but remained below normal levels.

Indonesian miners' group calls on government to reconsider proposed royalty increase

India's edible oils imports have fallen to their lowest level in four years, reducing inventories

Sources say that Itochu will not participate in the Seven & i Buyout.

US tariffs solar panels imported from Southeast Asian countries (Nov 29, 2018)

Thailand yet to finalise regards to multilateral tidy power handle Singapore

India enables ethanol production from walking stick juice

Saudi Arabia signs up with BIS- and China-led central bank digital currency job

Saudi Arabia joins BIS-led reserve bank digital currency trial

VEGOILS-Palm oil extends gains on demand hopes, weak Malaysian ringgit

VEGOILS-Palm increases on weaker Malaysian ringgit, need hopes

Evacuation bought after blaze at Thai chemical tank facility

Thai telcos Advanced Info, Thaicom desire financiers to turn down deals to get them

In 2025/26, the global sugar market is expected to shift from deficit to surplus.

United States sets tariffs for photovoltaic panels from Southeast Asian countries

Thai EV production set to increase, sparking price wars in a battered market

Thai ceremony for the dead brings good karma and psychological closure

Southeast Asian cities among world's most polluted, ranking programs

New green steel firms could enjoy benefits as EU carbon tariffs loom

Energy Markets

Evacuation bought after blaze at Thai chemical tank facility

Dreyfus projects little global sugar supply, sees Brazil crop unsure

Thailand to select previous energy executive Pichai financing minister, sources state

Chevron hands Myanmar gas field stake to junta, Thailand's PTTEP

REFILE-Thai PM says central bank ought to cut rates to assist financial revival

Thai PM: reserve bank should cut rates by at least 25 bps

Oil & Gas

India greatly raises import tax on edible oils to support farmers

Extreme Asian heat spurs LNG demand ahead of summer months

Fossil Fuels

MORNING BID ASIA-Markets mull potential United States 'no landing'

Thailand to expand state equity fund to purchase regional stocks

MORNING BID ASIA-Resilience vs quarter-end caution

Environment

VEGOILS-Palm oil removes early gains to end lower on increasing output

VEGOILS-Palm oil extends gains on weak Malaysian ringgit, demand hopes

'Boiling not warming': Marine life suffers as Thai sea temperature levels struck record

United States solar panel makers look for import tariffs to protect brand-new domestic factories

Thai scuba divers look for to take on 'ghost equipment' threatening marine life

Thai scientists reproduce coral in laboratories to restore abject reefs

Renewable Energy

Thailand exploring small modular nuclear reactor technology, states PM

White House moves to secure US solar producers from Chinese competition

China's EV strategy of going little and inexpensive to pay big dividends in Asia: Russell