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KUALA LUMPUR: The current sharp increase in the price of red onions only involves onions from India, said Domestic Trade and Consumer Affairs Deputy Minister Datuk Rosol Wahid.
He said as such, the public could seek alternatives by opting for onions from other countries including China, Thailand and Myanmar which are available in the market at lower prices.
“The sharp increase in the price of red onions from India is due to the drop in production following floods that hit the country.
“We advise consumers to go for onions that are imported from other countries,” he said when winding up the debate on the Supply Bill 2021 at the committee level for the Domestic Trade and Consumer Affairs Ministry in the Dewan Rakyat today.
The price of red onions from India in the country has skyrocketed over the past two to three weeks to RM18 per kilogramme compared to only RM3 to RM4 per kilogramme previously.
Rosol said the ministry was constantly monitoring the situation to ensure that red onion prices would remain stable.
To a question on the RM10 million expenditure allocation for the National Action Council on Cost of Living that was said to have been reduced in Bugdet 2021, Rosol said it was not cut but had been included in the Cost of Living and Education Affairs
The allocation for the ministry was then approved at the committee level with a majority voice vote. A total of 11 members of Parliament participated in the debate before being winding up by Rosol.
Earlier, the allocation for the International Trade and Industry Ministry under in the 2021 Budget was approved at the committee level by 110 against 104 with six absent. — Bernama
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Created by calvintaneng | May 10, 2024
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What does this cpo price trend below tell U leh ??
Date Settlement Price RM
3 Dec 20 3332
2 Dec 20 3316
1 Dec 20 3347
30 Nov 20 3305
27 Nov 20 3338
26 Nov 20 3227
25 Nov 20 3285
24 Nov 20 3249
23 Nov 20 3326
20 Nov 20 3288
Ans; Rising CPO price and Rising Profit loh!!
Until Sept latest qtr result cpo average is roughly rm 2600 mah!!
December QTR we will be seeing conservatively Average Price Rm 3200, that is 23% increase in price n this increase revenue will all goes to the bottom line profit as there are no cost applicable to revenue generated from price increase loh...!!
Just imagine if Average palm oil price is Rm 2800, U already see super strong profit loh!! But now we are at above 3500 loh...!!
Can U forecast & project what will palmoil company potential profit at rm 3500 cpo leh ?
2020-12-05 12:35
That means the upside of palmoil above Rm 3500 is still sustainable going fwd loh!!
"Soya Bean Oil {SBO} price premium over CPO currently stand at USD 195 per tonne. Consumers in India, Pakistan and other sub continents are price sensitive."!
2020-12-05 15:56
WHY IS PALM OIL SO POPULAR & PERVASIVE?, Calvin Tan Research
https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2020-12-08-story-h1537471835-WHY_IS_PALM_OIL_SO_POPULAR_PERVASIVE_Calvin_Tan_Research.jsp
2020-12-08 07:37
They cannot cope with increasing demand (pandemic and other disasters fail to kill enough people - unlike in the primitive-cum-naive past.........world population continue to grow)
2020-12-08 07:39
WHOA FCPO JAN 2021 NOW REACHED RM3,877
GOING UP LIKE BALLISTIC MISSILE
2020-12-24 15:24
calvintaneng
https://www.todayonline.com/world/floods-kill-60-india-damage-crops
2020-12-04 14:45