Latest news with #Dalian
Business Recorder
10 hours ago
- Business
- Business Recorder
Malaysia's palm oil stocks hit 8-month high in May as output jumps
KUALA LUMPUR: Malaysia's palm oil stocks jumped to their highest level in eight months in May as a surge in production and imports countered exports, which rose to their highest in six months, data from the industry regulator showed on Tuesday. Palm oil stocks rose 6.65% month-on-month in May, the third consecutive monthly increase, to 1.99 million metric tons, the highest since September 2024, the Malaysian Palm Oil Board (MPOB) said. Crude palm oil production climbed 5.05% in May, also the third straight monthly rise, to 1.77 million tons, while palm oil exports surged 25.6% to 1.39 million tons, the highest since November last year, the MPOB said. Imports rose to 68,971 tons last month from 58,292 tons in April, the data showed. A Reuters survey had estimated inventories at 2.01 million tons, with output at 1.74 million tons and exports at 1.3 million tons. The MPOB report is slightly bullish for palm oil, as the market was already trading with the expectation of stocks rising to 2 million tons, said Anilkumar Bagani, research head of Mumbai-based vegetable oil broker Sunvin Group. Palm rises on stronger Dalian rivals but weak Chicago soyoil limits gains 'Unless production rises with greater force in (the) coming months, we expect demand, particularly from top buyer India, to support the market.' Earlier this month, India halved the basic import tax on crude palm oil to 10% to bring down food prices and help the local refining industry. Palm oil has been trading at a discount to rival soyoil for the last few weeks and has started to lure buyers during the peak production season, said a Mumbai-based dealer with a global trade house.
New Straits Times
15 hours ago
- Business
- New Straits Times
Palm rangebound; traders await MPOB data and export estimates
KUALA LUMPUR: Malaysian palm oil futures traded in a tight range on Tuesday, as traders awaited cargo surveyors' export estimates and the Malaysia Palm Oil Board's supply and demand data for further cues. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange gained RM1, or 0.03 per cent, to RM3,926 (US$927.69) a metric ton in early trade. The contract has so far risen for the third straight session. Dalian's most-active soyoil contract rose 0.23 per cent, while its palm oil contract added 0.56 per cent. Soyoil prices on the Chicago Board of Trade were up 0.87 per cent. Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. The MPOB is expected to release its May supply and demand data later in the day. Cargo surveyors are expected to release Malaysian palm oil export estimates for May 1-10 later in the day. Oil prices edged up as market participants waited for the outcome of US-China talks that could pave the way for easing trade tensions and improve fuel demand. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. The ringgit, palm's currency of trade, weakened 0.07 per cent against the dollar, making the commodity slightly cheaper for buyers holding foreign currencies. Palm oil remains neutral in a widened range of RM3,889 to RM3,961 per metric ton, and an escape could suggest a direction, Reuters technical analyst Wang Tao said. Stocks were buoyant and the dollar remained on guard on Tuesday as trade talks between the United States and China were set to extend to a second day, with tentative signs tensions between the world's two largest economies could be easing.
Business Recorder
2 days ago
- Business
- Business Recorder
Palm rises on stronger Dalian rivals but weak Chicago soyoil limits gains
KUALA LUMPUR: Malaysian palm oil futures opened higher for a second straight session on Monday, supported by stronger rival Dalian oils, though weaker Chicago soyoil capped gains. Palm rallies for fourth straight week despite output, stock worries The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange gained 23 ringgit, or 0.59%, to 3,940 ringgit ($930.34) a metric ton in early trade.
New Straits Times
2 days ago
- Business
- New Straits Times
Palm rises on stronger Dalian rivals but weak Chicago soyoil limits gains
KUALA LUMPUR: Malaysian palm oil futures opened higher for a second straight session on Monday, supported by stronger rival Dalian oils, though weaker Chicago soyoil capped gains. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange gained RM23, or 0.59 per cent, to RM3,940 (US$930.34) a metric ton in early trade. Dalian's most-active soyoil contract rose 0.7 per cent, while its palm oil contract added 0.64 per cent. Soyoil prices on the Chicago Board of Trade were down 0.04 per cent. Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Chicago soybean and corn futures eased, with both markets giving up some of last week's gains as focus turned on crucial talks due to start between top agricultural trading partners, the United States and China. Oil prices held on to last week's gains early on Monday as investors waited for US-China trade talks to be held in London later in the day. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. The ringgit, palm's currency of trade, weakened 0.24 per cent against the dollar, making the commodity slightly cheaper for buyers holding foreign currencies. Free trade negotiations with the European Union, which have been ongoing for nine years, are expected to be concluded by the end of June, Indonesia said. Both parties have previously disagreed on EU trade rules for products with potential links to deforestation that could affect Indonesian palm oil. Palm oil looks neutral in a narrow range of RM3,889 to RM3,925 per metric ton, and an escape could suggest a direction, Reuters technical analyst Wang Tao said. Shares jumped and the dollar pared recent gains as Asian markets reacted to better-than-expected US jobs data ahead of talks in London aimed at mending a trade rift between the United States and China.
ABC News
4 days ago
- Entertainment
- ABC News
Amid concerns about China's falling birthrate, the 'boy sober' movement is rising
When Beijing university student Maman, a fan of K-pop and anime, became tired of not finding a compatible man to date, she decided to hire a "cosplay boyfriend". First, the 22-year-old searched online for cosplay actors who offer companionship services. The date was simple: they spent the afternoon drawing together, taking quirky photos around the city, and joking about their favourite characters. "Virtual reality dating, and cosplay dating has helped women increase their self-awareness and allows a deeper understanding of what they want in relationships," Maman said. Cosplay (short for "costume play") is a kind of performance art where people dress up as characters from anime, computer games and other pop culture. Maman's cosplay boyfriend was dressed as Osborn, the talented race car driver from the mobile game Light and Night who sports jet black hair and smouldering looks. For Maman, who declined to give her full name, the date was not a mere escape; it was a refreshing break from transactional, often demeaning, dating app culture. She's part of a new generation of heterosexual women in China embracing the TikTok #boysober trend — no dating apps, no situationships, just self-care and staying single by choice. Xuanzi, a follower of the "boy sober" movement from the port city of Dalian, said she had grown tired of online dating that often felt like a series of check-boxes and so opted to hire a cosplay boyfriend for a day too. In China — where those who don't marry before 30 risk being called "leftover women" — the boy sober movement is largely a rejection of societal pressure to marry by a certain age. That pressure has stepped up even more so as the birth rate has plummeted — with the country's population falling for a third consecutive year in 2024. The government has loosened the one-child policy, instituted a 30-day cooling off period for divorces, and even suggested at the National People's Congress plenary meeting to allow people a week off "to enjoy love". But for many women, these measures feel like token gestures, designed to curb demographic decline without addressing the deeper societal issues. Pan Wang, a sociologist in Chinese studies at the University of New South Wales, said the boy sober movement was largely limited to feminists in urban areas. "Women are rejecting marriage because of the unequal distribution of domestic work, male chauvinism, and intense social pressure," she said. The expectation to care for two families due to China's aging population also places a heavy burden on women, she added. "There is a trending phrase on Weibo, 戒断男性专注自身# — 'Detox from boys and focus on yourself,'" Xuanzi said. At one point, the hashtag had around 320 million views on the social media platform, she said, showing that "young women are having a collective awakening". The hashtag is blocked on Weibo and RedNote but the discussion remains in some posts. "We are not rejecting love, but rejecting the countdown of 'must marry' before 30," said Xuanzi. Maman said experiencing gender inequality in relationships was one of the driving forces behind her decision to hire a cosplay boyfriend. "In my past relationships, I often encountered young men who displayed very obvious patriarchal traits," she said. "They either placed too much emphasis on family expectations, or saw women as nothing more than objects of pleasure. It was a binary I didn't want to be a part of." Marriages in China plunged by a record amount last year, falling by a fifth to just 6.1 million — less than half the number that got married in 2013. The high cost of childcare and education has been blamed, along with economic uncertainty. About 42 per cent of China's youth were not looking for a relationship, according to the Chinese Academy of Sciences' 2022 Report on the Mental Health of College Students. Of the 80,000 surveyed, 41.93 per cent were single and wanted to stay single, 27.61 per cent were in relationships, and 25.40 per cent were single but seeking a relationship, while the remainder did not answer. Websites and mobile apps, which have largely replaced traditional marriage markets, were supposed to make dating easier. But, as in the West, many Chinese young people have also become disillusioned with meeting people online. "Dating apps have made us into products, constantly advertising ourselves to potential suitors," said Ms Yan, a bisexual university student who declined to provide her first name. "But the reality is that many men haven't evolved with the expectations of gender equality." Rather than facilitating genuine connection, the apps have been critiqued for turning dating into a commodified experience — resembling a game where swiping right has replaced meaningful interactions. "Dating apps have made it 'fast-food love', swiping left or fight to get more and more people but it has also led to the counter-trend, more people like me," Xuanzi said. In a world of seemingly endless matches, it was easy to fall into the trap of "networked loneliness", said Hao Xu, from the University of Melbourne, noting the abundance of choice leading to fatigue and dissatisfaction. "This abundance of choice creates superficial interactions, where individuals are treated as commodities rather than potential partners." What's more, online dating has begun to replicate real-world inequalities. On dating platforms like Qingteng Love, users must now verify their degrees. Some users say this kind of filtering makes dating feel more like job recruitment than emotional connection. "Dating apps have become more exclusive," said University of Technology Sydney sociologist Tingting Liu. "People don't talk about class and instead use income — apartment ownership, car ownership and education," she explained. It's against this backdrop that many young women are embracing alternative forms of companionship. It's not just cosplay boyfriends — others are delving into virtual realms, experimenting with AI boyfriends or video game-based interactions. Maman said many women preferred to go on cosplay dates with female actors dressing as male anime characters. "It's because we feel safer if we know other women," she said. "Some of them even look more like the characters." Lexie Chang, who has been working as a cosplay actor for a year, charges about $75 a day. Her clients — mostly professional women and university students aged 17 to 30 — wanted emotional care, not romance, she said. "I listen, offer comfort and hugs, I focus on their emotions like a therapist," said Ms Chang. "While there are some clients who choose this service due to loneliness, they represent a small minority. "Cosplay commissions, as a new dating trend, reflect the diversification of emotional needs in modern society, the fusion of anime and real-life experiences, and the rise of emotional consumption. "As society changes, more women are focused on self-realisation rather than traditional roles like marriage or childbirth." Rui, a 29-year-old cosplay actor from Beijing, said she herself has given up on dating. "I focus more on friendships now. Not sexuality, but sociality." "When women realise men can't meet the standards of a gender-equal relationship, they stop trying," said Ying, a student from Zhuhai. "The pressure to date, even from a young age, just becomes too much." Leta Hong Fincher, the author of Leftover Women about the growing gender inequality in China, said movements like boy sober represented the growing feminist consciousness. "Fewer women are willing to make major compromises," she said. "They're finding more support in their friendships and choosing to remain single until — or unless — someone truly fits."
