Latest news with #andCommodities
The Star
05-05-2025
- Business
- The Star
Malaysia to safeguard commodities in US tariff talks
Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani PUTRAJAYA: Malaysia is making thorough preparations for official tariff negotiations with the United States, with the Plantation and Commodities Ministry emphasising the need to protect the interests of the country's commodities sector, particularly palm oil. Minister Datuk Seri Johari Abdul Ghani stated that although the United States is not the largest buyer of Malaysian palm oil products, exports to the country remain significant and strategically valuable. 'We have provided all relevant facts and information to the Investment, Trade and Industry Ministry to be used in the upcoming negotiations. 'For example, with regard to palm oil, even though the United States is not a major buyer, we still export nearly RM4.9bil annually to that market,' he told reporters at the Malaysian Palm Oil Board's Silver Jubilee Gala Night. Johari said Malaysia's largest export markets for palm oil currently are Europe, India, and China, which collectively contribute over 40% of total exports. 'But we cannot disregard the United States, because in addition to palm oil, we also export rubber gloves – more than RM8bil annually, wood products – nearly RM6.5bil, and cocoa – at around RM1.6bil. 'Total commodity exports to the United States alone amount to about RM20bil to RM21bil,' he noted, adding that the national commodities sector records total annual exports of around RM186bil worldwide. Johari stressed the need to continue engagement and diplomacy efforts with major buyers worldwide, given the large demand and market capacity beyond the United States. — Bernama
Express Tribune
15-02-2025
- Business
- Express Tribune
Govt cracks down on hoarding, price gouging
KARACHI: The Sindh government has launched a crackdown on hoarding and illegal profiteering in the metropolitan city, issuing notices to 45 warehouse owners allegedly involved in the stockpiling of sugar, rice, and other essential commodities. The crackdown was led by Special Assistant to the CM Ghani Hanguro for price and supply. The team visited Kachhi Galli Market and several warehouses storing essential goods. During the inspection, notices were issued to the 45 warehouse owners caught hoarding food items. These warehouses were primarily used for storing sugar, rice, and other basic items. Hanguro warned that legal action would be taken against hoarders, including the sealing of their premises and the arrest of the owners. Next week, a meeting has been scheduled with the Association of Spices, Sugar, Rice, and Commodities to discuss the registration of over 500 godowns and warehouses. Apart from addressing the hoarding issue, Hanguro's team ensured that the prices of fruits, vegetables, and chicken in the market adhered to official rates. During the visit, a case was also filed against a shopkeeper found making illegal profits, under the Price Control Act.
