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Food safety fears as supermarkets put price squeeze on their suppliers that effectively forces them to commit fraud
- Supermarkets sometimes demand food at below cost of production
- The practice is opening the door to fraudsters, warns food safety expert
- FSA survey of 145 lamb takeaway meals found 30% contained other meat
- There is also evidence of cancer-risk chemicals being added to food
Supermarkets are putting customers in danger by demanding price cuts from suppliers that effectively force them to commit fraud, a food safety expert has warned.
And the situation has worsened since the horse meat scandal, according to Professor Chris Elliott, who was asked by the Government to investigate industry practices.
He said the current high street price war means the pressure on suppliers is worse than in January last year, when it emerged that horse meat was being passed off as beef in supermarkets and fast food restaurants.
The current price war means that pressure on suppliers is worse than in January last year, when it emerged that horse meat was being passed off as beef in supermarkets and fast food restaurants.
‘Procurement policies in some food businesses, particularly some of the larger retailers, are a matter of concern,’ he said.
Prof Elliott’s review is highly critical of the supermarkets and suggests the Government and Food Standards Agency were slow to react to the scandal.
The professor, who heads the Institute for Global Food Security, in Belfast, insisted that fraud is far more widespread than just consumers being fooled into eating horse meat.
There has been evidence of cancer-risk chemicals being added to foods, peanuts used in place of other nuts creating the risk of serious allergic reaction, and dirty, condemned meat being sold for human consumption.
A recent FSA survey of 145 lamb takeaway meals found 30 per cent contained other meat. One in five contained no lamb.
The professor said the aggressive approach by the big supermarkets to their suppliers, sometimes demanding food at below the cost of production is opening the door to fraudsters, some of whom are resorting to threats and violence to cover up their activities.
A recent FSA survey of 145 lamb takeaway meals found 30 per cent contained other meat. One in five contained no lamb. Above, file picture of lamb rogan josh
‘The review has been presented with information about threats made by criminals to regulators inspecting food businesses, and by honest businesses trying to compete with cheats,’ he said.
Prof Elliott has called for the establishment of a new Food Crime Unit with police powers to implement a zero-tolerance approach to fraud.
None of the supermarkets, such as Tesco or Asda, brands such as Findus, or restaurant chains like Burger King have been prosecuted for selling horse meat dressed up as beef in burgers, lasagne, Bolognese sauce and other products.
None of the supermarkets, such as Tesco or Asda, or brands such as Findus, have been prosecuted for selling horse meat dressed up as beef in burgers, lasagne, Bolognese sauce and other products
They denied wrongdoing and said they relied on written assurances from their suppliers they were supplying was beef.
Environment Secretary Elizabeth Truss said the Government would accept the review’s recommendations.
The British Retail Consortium, which speaks for supermarkets, said it has taken steps to prevent a repeat of the horse meat scandal.
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CHICAGO (AP) — Christie's auction house in New York says Pablo Picasso's model of his famed Chicago sculpture didn't sell at auction after bids failed to meet a minimum reserve.
Authorities had hoped the sheet metal model would bring between $25 million and $35 million when it went up for auction Monday in New York. A welded-iron version of the sculpture was unveiled in Chicago in 1967.
Christie's says Picasso saved the smaller model for himself and sent a duplicate to Chicago to be used to create the sculpture. The piece is part of a larger auction of artwork from the private collection of renowned dealer Jan Krugier.

domain: news


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Sustainable Shoe Line Olsenhaus Sponsors 'Vegan Glamour In Designers Of The Future'
Sustainable design, animal-loving celebrities, and tons of vegan food? We’re pretty sure there isn’t anything better!
On Thursday, Ecorazzi spent the evening at the Vegan Glamour in Designers of the Future event in New York City. The high-energy evening celebrated a collaboration between Olsenhaus Pure Vegan shoes and PRATT institute, where students were given vegan materials and asked to come up with an original design. The winning shoe, created by student William Cherwin, was announced during the event and will receive a production run through Olsenhaus with profits going to Farm Sanctuary.
While viewing all the creative designs throughout the night, we sampled delicious food by caterers like Candle 79, The Regal Vegan, Vegan Treats and Lagusta’s Luscious. We also got to hang out with a few of our favorite animal-loving celebrities like Moby, Jane Valez-Mitchell, and Russell Simmons.
Simmons — who’s reality show Running Russell Simmons is currently airing on Oxygen — shared why he chooses to support both Olsenhaus and Farm Sanctuary.
“This is my community,” said Simmons. “This is a community that’s awake, aware of the suffering of animals, and doing something about it. I think the vegan community has grown over the last few years, and I’m very excited about it.”
And so are we!
To find out more about how Olsenhaus is rocking sustaianble design, stop by Olsenhaus.com.


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How long before Bidvest flogs its prized non-core assets?
Bidvest wants to sell Adcock Ingram stake to black investors but facilitating funding has proved difficult
Two years ago Bidvest said it would review all its non-core investments. Indeed, the group has disposed of some of its assets including the entire interest in Bidvest Namibia Fisheries (Bidfish). But it is the fate of assets such as Adcock Ingram (38.4%) and Comair (27.2%) that many will be interested in.
Presenting the group’s 2018 financial results on Monday, CEO Lindsay Ralphs singled out the two companies saying they had delivered good performances and helped boost Bidvest’s associate income by 21.7% (R45m ) to R424m.Given the quality of these two assets, Bidvest is dictating the terms and pace of the disposals. For instance, the sale of the Adcock Ingram interest has not been implemented because Bidvest wants to sell to black investors and has turned away international private equity players interested in it. But facilitating funding for black investors has proven difficult. Failure to get the finance may see the company drop this condition and sell the stake, which has been valued at about R4.5bn to whoever wants to buy it.
On the other hand, Ralphs has intimated that Bidvest may hold on to its 27.2% interest in Comair, which he has described as an incredible and well-run company.
In any event it is clear that Bidvest is in no hurry to dispose of its interests in these two companies and maybe that is a good thing. Both Comair and Adcock Ingram have strong brands and look set to continue delivering strong performances for the foreseeable future.


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Mental health top concern for SMEs, MYOB research finds
03 Jun 2021
Nearly half (46%) of small and medium sized enterprise (SME) owners agree that running their own business has directly contributed to feelings of anxiety or depression, and for a quarter (26%) of respondents, mental health is their most immediate concern, according to the latest MYOB Business Monitor.
The research of 1000+ small business owners and operators found that running a business over the last 12 months caused more than half (52%) of business owners stress, up seven percentage points from this time last year (45% in June 2020). Forty-five per cent experienced anxiety in this latest survey, and a quarter (26%) felt depression, up from the 20% who experienced it 12 months ago.
The retail and hospitality sectors have been hit particularly hard, with more than two thirds (68%) reporting their business has caused them stress. Fifty-seven per cent in the sector felt anxiety and 45% experienced feelings of depression.
MYOB Chief Employee Experience Officer, Helen Lea, said as the economy starts to recover it’s important that the country’s 2.29 million small businesses acknowledge the mental health impacts of the past 18 months.
“As rewarding as it can be, running a small business brings with it a range of stressors and challenges at the best of times, let alone in the midst of a pandemic. Last year was trying for small businesses and the data shows owners and operators may be feeling its effects for some time to come.
“As some businesses come out the other side of the pandemic and move from recovery to growth, we want to remind small businesses of the tools available to them to help manage their mental health.”
MYOB has partnered with Smiling Mind, a leading mental health prevention not-for-profit, to create mindfulness activities specifically for small business owners. These focus on key areas such as stress management, relationships and resilience.
“As the lifeblood of the Australian economy, small businesses need environments in which they can thrive, eliminating points of stress where possible,” Ms. Lea said.
“This might include scheduling proper down time or incorporating time to exercise or meditate into your day.”
Resources available to small business owners include: NewAccess developed by Beyond Blue, Smiling Mind Small Business Program and Lifeline.
For further comment or other information please contact:
Sarah Green, Head of Media Relations, Character + Distinction
MYOB is a leading business platform with a purpose of helping more businesses in Australia and New Zealand start, survive and succeed. MYOB delivers end-to-end business management tools and accounting solutions for SMEs and the mid-market, direct to businesses, as well as a network of accountants, bookkeepers and consultants. MYOB operates across three key segments: Small and Medium Enterprises (SME), Enterprise (mid-market), and Financial Services. For more information visit myob.com or follow @MYOB on Twitter.
About MYOB Business Monitor
The MYOB Business Monitor researches business performance and attitudes regarding areas such as profitability, cash flow, pipeline work, technology usage and the government. This report presents the summary findings for key indicators from the MYOB Business Monitor comprising a national sample of 1,005 business owners, managers and directors (operators), conducted from March 17th to April 22nd, 2021. The businesses participating in the online survey were both non-employing and employing businesses. All data has been weighted by industry type, location and number of employees, which are in line with the Australian Bureau of Statistics (ABS - Counts of Australian businesses, including entries & exits - 8165.0).


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Not long after the departure of Apple’s longtime design chief, Jony Ive, one of the company’s most criticized products in recent years appears to be getting an overhaul.
Starting with the release of the redesigned MacBook in 2015, the keyboards on Apple’s Mac laptops have featured a proprietary key design which was considerably thinner than any keys before it. The keyboards have been lambasted by users for being too loud, not clicky enough, and breaking easily. Apple has attempted to redesign its keys three times since first launching the design, but even it has admitted that its brand-new laptops might need their keyboards serviced soon after purchasing. The faulty keyboards have even led to class-action lawsuits.
It’s rumored that Apple is going to unveil new laptops in the coming months—it tends to hold new product launches in September, and occasionally, October. A report from veteran Apple analyst Ming-Chi Kuo, published Thursday (July 4) suggests the new laptops will give up on the keyboard design Apple has been running with, in favor of a more traditional “scissor-switch” keyboard. Kuo’s report suggests the new laptop keys will have more travel (the distance a key moves when pressed) and durability, which should address many of the issues customers have faced in recent years, according to 9to5Mac.
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Tired of chewing through your mobile data? Kogan Mobile has announced upgrades for two of its biggest prepaid plans.
The Large and Extra Large 30 day plans have been given a data boost from 5GB to 8GB and 11GB to 12GB at no additional cost to new or existing customers. The Large will continue to retail at $36.90 per 30 days and the Extra Large at $49.90.
Previously existing customers may be experiencing the benefits already. “We rolled this out to existing customers over the weekend, so they’ll start their week with a pleasant surprise. For new customers, our already great prepaid options just got even more attractive,” said Kogan CEO Ruslan Kogan.


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Apple has hired chip designer Jim Mergard away from Samsung, according to the WSJ.Mergard has an impressive resume. He was AMD’s chief engineer before his move to Samsung. So it’s a highly symbolic move that Apple was able to poach away such an experienced chip designer from its chief hardware rival.
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Lok'nStore's revenues grow due to store expansion
Storage company Lok’nStore’s revenues increased due to store expansion.
In a trading update for the year ended 31 July, the company’s revenue grew by 5.2% compared to the same period last year.
Self-storage unit occupancy increased by 2% and the price per let square foot increased by 2.2%.
The AIM-listed company’s document storage business revenue also increased by 11.1%, compared to the same period last year with costs slightly down which resulted in a doubling of earnings before interest, tax, depreciation and amortisation (EBITDA).
The numbers of boxes increased by 8.7% and tapes stored rose by 14.2% over the past 12 months.
The company opened purpose-built stores in Bristol and Southampton. It opened two owned stores in Wellingborough and Gillingham, and two managed stores in Hemel Hempstead and Broadstairs, due to be opened in 2017.
The company received about £8.5m from selling three sites and helped debt and leverage remain low. The company’s reduced interest margin on a new bank facility further reduced finance costs.
Chief executive Andrew Jacobs, said: "We have built on the solid turnover and profits growth of last year with another strong trading performance in this financial year delivering a 5.2% growth in like for like revenue in our core self-storage business.
"Lok'nStore's strategy of expanding the operating footprint of the business by developing both managed stores and owned stores while maintaining its strong balance sheet combined with our flexible new banking facility give us confidence that Lok'nStore can continue to deliver growing dividends for its investors from an increasing number of stores."
The company’s full year results will be released on 17 October.
Shares in Lok’nStore were down 0.16% to 321p at 1303 BST.


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In recent years, the bond between Cambodia and the U.S. is seen to be stronger for both diplomatic and economic relations. That’s makes the U.S. becomes one of the most important partners and markets for Cambodian domestic products.
On Wednesday 6, 2016, U.S. Ambassador William Heidt announced that the Cambodian travel products such as luggage, backpacks, wallets and other travel items can now be exported to the U.S. without paying duties according to the new U.S. Generalized System of Preferences (GSP).
This expansion of trade preferences to Cambodia is said could generate positive effects to the country. It encourages the domestic manufacturers to produce and export more outputs due to the duty free, as well as attracting the foreign investors to come and invest in Cambodia. It was also estimated to create jobs for thousands Cambodians, due to the increases of demand for local workers.
With the previous tariff ranged from 4.5 to 20 percent, Cambodia exports more than $5 billion annually to its two major textile export markets, the US and EU. Once Cambodia export increases, the country’s trade balance will be moving toward trade surplus, it boosts the overall of the Cambodia’s economy and increases the standard of living its citizens.
- US Removes Tariffs for Cambodian Travel Goods. The Cambodia Daily.
- US Expands Duty Free Access for Travel Goods Made in Cambodia. VOA Cambodia.


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Once a catalog-only bra starting at $1 million in 1996, the Victoria’s Secret Fantasy Bra has kept consumers on the edge of their seats in anticipation of the bedazzled, multi-million dollar marvel, as each year becomes more embellished with precious jewels including rubies, sapphires and diamonds.
Alessandra Ambrosio is going to make a dazzling appearance at this year’s Victoria’s Secret Fashion Show. Ambrosio has been chosen to wear this year’s “Fantasy Bra…”
(CBS/ AP) – Katy Perry, Akon and model Adriana Lima in a $2 million fantasy bra are among the highlights planned for this year’s Victoria’s Secret fashion show. Other models expected on the runway include […]


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Nokia Oyj and Alcatel-Lucent SA revealed Tuesday they were in advanced takeover talks, a deal that would combine the industry’s two weakest players into the world's biggest maker of wireless-network equipment
"We believe carrier upgrades in Europe and North America may drive wireless infrastructure stocks, including Nokia, to move higher."
The quandary for Microsoft is that while the basic phone market may be declining, it may simply be too big to ignore
"The road to hell is paved with good intentions. Please switch to another road," one shareholder told Nokia CEO Stephen Elop
Samsung Electronics announced its new Rex lineup of full touch, feature phones specifically targeting India, which will compete directly with Nokia's Asha devices
Based on a recent letter to employees, CEO Steve Ballmer appears intent on focusing more on devices and services, while moving away from simply providing software
“These wild, computer-driven market swings just add to the view that the market is somehow rigged,” said Edward Bozaan, a managing partner at New York-based Cleargate Capital LLC
“You often get a trading rally in Nokia when there is a new product,” said Lee Simpson, an analyst at Jefferies Group
JPMorgan analyst Sandeep Deshpande praised Nokia for its adept cash management during recent troubling quarters but remained skeptical the stock is as yet poised to make a full recovery, noting that consumer interest in new product will be key
For investors, the jury’s decision likely means that the mobile industry will continue to be dominated by Apple. But that does not mean that other, less-obvious options do not exist.
Churners take out credit cards for their rewards, squeeze as many perks as possible out of each one, and then move on, accumulating dozens of cards in the process
Brady Yauch: Once again, Ontario ratepayers are about to be stuck paying off the 'dead' assets in the electricity system
The right influencer can be very good for business and Flow is hoping its unexpected celebrity endorser will give its water a sales boost in Canada and the U.S.
The Language Creation Society argues Paramount Pictures lacks the 'yab bang chut' or 'mind property law' necessary to claim copyright over the Klingon language
Howard Levitt: Is being part of a union beneficial? Here's what rights unionized members have when it comes to layoffs, demotions, and membership


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News: Furniture start-up to bring 80 workers to Smithville
Adam Robison | Buy at photos.djournal.comLyle Harris, president and CEO of Behold Home, said the company picked Smithville because it had “unique qualifications. … It’s battle-tested, and they know what it takes to bounce back.”
SMITHVILLE – Nearly three years after a devastating tornado tore through this small Monroe County community, Smithville still finds itself in recovery mode.
On Friday, it made a big stride forward with the announcement that a start-up furniture company would fill an empty space once occupied by the city’s largest employer.
Adam Robison | Buy at photos.djournal.comBill Martin, director of the Franklin Furniture Institute at Mississippi State University, talks with Larry Todd, vice president and chief operating officer of Behold Home, during the company’s announcement Friday.
Read full article
How to Paint Pressed Wood Furniture
Painting pressed wood furniture is easy with the right preparation. Painted pressed wood furniture can be a cheap way to add attractive furniture to you home ...
Rove Concepts Announces Faster Shipping Service With Vitran Logistics
-- Mid-century designer furniture retailer Rove Concepts debuts new shipping partnership for quicker delivery service.Read full article


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Leading product and service providers to the retail sector were honoured at the annual Checkout National Retail Supplier Awards, which took place on Monday 08 April 2019, at the Radisson Blu Golden Lane, Dublin 8.
The event was emceed by Irish television journalist and broadcaster Alison Comyn, who paid tribute to the ‘unsung heroes’ of the Irish retail sector; suppliers that are fundamental to the success of the industry, in areas such as shop equipment, packaging, merchandising, software development, cleaning, security, recruitment, third-party logistics and fleet management.
A crowd of top-level executives from across the industry was present for the gala awards lunch, which saw awards presented in 12 categories.
A full list of winners and finalists can be found below.
Londis at Dublin City University
Centra Point Village (Entered by SEL)
Aldi Frascati Shopping Centre
Lincoln Recruitment Specialists
Jensen Fleet Solutions Ltd
Spar Millennium Walkway, Dublin
Maxol Maynooth (Entered by Tap Creations)
SuperValu Castletroy (Entered by SEL)
Tesco Extra Liffey Valley
SuperValu Bantry (Entered by Storefit Shopfitters)
Iceland in Roscommon Retail Park
Panasonic Business and Domus Projects
Astron Engineering Ltd
Storefit Shopfitters Ltd
Martin Food Equipment
Costa Systems Ltd
Panasonic Business and Domus Projects – Panasonic SpacePlayer
Solus – Solus Customer Lighting Experience
CBE Ireland – FutaTill software
Intouch.com – kiosk software
Leader Enterprises Ltd – NCR Produce Assurance and Picklist Assistant


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The three-day event over the weekend saw attendance from individuals of all ages and fitness levels come together to stay fit.
KUALA LUMPUR, 31 OCTOBER 2023 – The Re-Energize 100% Fitfest, the most thrilling fitness event in October, has concluded with much fanfare. Held over the weekend at Desa Park City Carpark 3, Near Arkadia Plaza, the Fitfest saw an impressive attendance of over 3,500 participants from all walks of life and age groups. The event which aimed to promote physical well-being and an active lifestyle, left participants feeling energized, motivated, and inspired.
The three-day event offered participants a wide range of fitness activities, including yoga, Zumba, high-intensity interval training (HIIT), and body combat led by renowned fitness trainers from Fitness First, Celebrity Fitness and CHI Fitness. These sessions not only provided a chance to break a sweat but also fostered a sense of community and camaraderie among attendees.
Adding to the excitement, the Re-Energize 100% Fitfest also featured exclusive classes hosted by renowned sports influencers Jordan Yeoh, Maggy Wang, and Joey Tng. Participants had the opportunity to learn from these fitness icons and gain insights into their training techniques and personal fitness journeys.
One of the event’s highlights was undoubtedly the rock climbing challenge. Participants tested their strength, agility, and endurance on a state-of-the-art rock 5-meter climbing wall, resembling the power and durability of an Energizer battery. This thrilling experience pushed participants to new heights, as they conquered obstacles and embraced the thrill of conquering challenges.
“At Energizer, we believe in the power of energy and staying charged. Just like our batteries that keep devices running, we wanted to inspire people to stay energized in their daily lives through the Re-Energize 100% Fitfest. This event provided a platform for individuals to embrace physical well-being, push their limits, and discover the joy of an active lifestyle. We are delighted to have been able to host such an event that motivates and empowers participants to unlock their full potential,” shared Diane Lee, Business Director, Malaysia & Singapore, Energizer Holdings Inc.
The event was also made possible due to the unwavering support from the sponsors as well. Participants were treated to goodie bags worth RM120 from leading brands from NIVEA, Eucerin, F&N Ice Mountain, Berocca, 100PLUS, Urban Retreat Spa, Pressio and more upon arrival. Participants were also offered a variety of food & drink throughout the day at the venue from F&B vendors such as Kee Nguyen, Nacholah, Kinori and The Bao Guys.
For more information about Re-Energizer 100% Fitfest, please visit Energizer’s Facebook event page. Follow Energizer on Facebook for updates on future exciting events.


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Following an urgent application by Cell C seeking to postpone incoming data regulations, the Independent Communications Authority of South Africa (Icasa) has confirmed it will be defending the application.
Cell C filed the application at the South Gauteng High Court on Wednesday, seeking a postponement of the implementation of the End-User and Subscriber Service Charter Regulations published on 07 May 2018. The regulations are due to come into effect on 8 June.
The recently-published amendments – which include forcing networks to let users roll over unused mobile data, transfer data to other subscribers, and not charge OOB rates by default – came with a one-month window in which they had to be implemented.
However, Cell C was not the only mobile operator who expressed concerns about the tight timeframes, with other industry players also requesting an extension of the date of implementation. Cell C had requested a six month extension to comply with the regulations.
“It is important to note that the End-User and Subscriber Service Charter Amendment Regulations of 2016 was necessitated by the general concerns about, amongst others, the unfair business rules imposed by licensees in the provision of data services to consumers,” Icasa said.
“In particular, the regulations seek to grant consumers relief against expiry of data, bill shock occasioned by lack of transparency on out-of-bundle charges and other rules which are prejudicial to consumers.
“The effect of the extension would be that consumers will continue to be prejudiced by the continued application of the impugned business rules. This would mean consumers will for the foreseeable period of the extension not be able to carry over their unused data and will continue to be charged high out-of-bundle rates without their consent,” it said.
Icasa added that it was obligated, in terms of its legislative mandate, to act and regulate in the public interest (particularly consumers).
“It is Icasa’s view that granting such an extension would not be in the public interest. Hence, the decision to refuse the extension.
“Icasa has decided that it will defend the application by Cell C and to this end, has resolved to postpone the effective date until the matter has been heard and pronounced upon by the court. During this intervening period licensees will not be penalised for non-compliance,” it said.


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Bilstein, a Poway, Calif., manufacturer of monotube gas pressure shock absorbers, introduces its “Just Add…” sweepstakes.
Participants can enter to win one of three customized vehicles and a trip to the 2013 SEMA Show in Las Vegas.
To qualify, entrants must vote for their favorite vehicle among a Ford Mustang, Ford F-150 or BMW 335i. Once they vote, participants also will have the chance to select from a menu of aftermarket parts to be installed on the vehicle. A winner will be randomly selected and announced on or before Oct. 11, according to Bilstein.
Participants can vote for the ride of their choice from now until Aug. 1, and enter to win until Oct. 7, the company said.
The prize package includes an exclusive insider’s tour of the new products, thousands of customized vehicles and celebrities at the 2013 SEMA Show, where the winner will take home the vehicle of their choice.
To enter the sweepstakes, visit http://justaddbilstein.com/.


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vaping360 Owners of more than 400 independent vaping businesses have signed a letter urging FedEx to reconsider its decision to prohibit shipping of vaping products. The signers include e-liquid manufacturers, vape product distributors, and vape shops of every size. With a final Postal Service rule that will ban U.S. Mail delivery of vaping products due
vaping360 German vapers will pay more for e-liquid beginning next year after legislators approved a tax that will apply to both nicotine-containing and nicotine-free e-juice. The Tobacco Tax Modernization Act passed the Bundestag (the lower house of parliament) June 11, and was approved by the Bundesrat (the upper house, or “federal council”) on June 25.
Freemax has launched Onnix 2 15W Kit globally – a follow-up of the popular Onnix 20W Kit. Freemax Onnix 2 15W Kit is a 15W compact pod system with 2ml pod and smart battery with automatic resistance recognition for high strength MTL vaping needs. The kit has a 900mAh internal battery for whole-day vaping with 2A
vaping360 The Canadian government has initiated the process of banning most flavored vaping products. The flavor ban will be implemented as a regulation by Health Canada, and will prohibit flavors other than tobacco, menthol and mint. Health Canada will also finalize a rule, proposed last December, to cap the nicotine strength of e-liquid and DIY
Freemax has just launched Marvos 60W Kit – Freemax’s first pod mod kit with Tri-Proof Technology. Marvos 60W is Freemax’s first pod mod kit with Tri-Proof Technology, consisting of a Marvos DTL Pod and Marvos 60W Mod. It utilizes Freemax Patented MS Mesh Coil Technology, which is inspired from Freemax world-known Fireluke product line. Besides equipped with the industry-leading mesh coil technology
vapingpost Residents in several states support cannabis legalization, per a new poll. WASHINGTON — The U.S. Cannabis Council, a special interest group working to end the federal government’s prohibition on cannabis, released the results of a new poll that shows a supermajority of residents in states likes Arizona, Utah, and West Virginia want an end
vaping360 This Sunday, May 30, vapers around the world will celebrate World Vape Day—a time for vapers, consumer advocacy organizations, and vaping businesses to celebrate the technology that has helped tens of millions become independent of cigarettes and combustible tobacco. World Vape Day is also the perfect time to raise awareness among people who smoke
vaping360 Governor Kay Ivey signed into law a medical marijuana bill Monday, making Alabama one of just three Deep South states with legal cannabis. Alabama becomes the 37th state to approve a comprehensive medical marijuana program—although a neighboring state’s action will leave just 36 with a functioning program. The Alabama bill was signed three days


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Brazil facing container shortages & soaring freight rates due to this year’s international trade disruptionsDec, 07, 2020 Posted by Sylvia Schandert
An overview of Brazil’s trade trends this year
Both imports and exports have been on quite a journey this year. Datamar figures show that imports were 216,839 TEU in January and steadily fell to a year’s low in June, with 119,492 TEU (down a massive 40% compared with the 2019 figure of 199,666 TEU). At the same time exports have steadily risen every month from 201,140 TEU in January up to 251,376 TEU in August and then to 258,462 TEU in October, which is the latest figure to be released. The only exceptions to this rise/fall scenario were in April, when imports rose slightly and exports fell a little, and in September when exports fell slightly (by just 2,800 TEU) compared to the previous month.
After Brazilian imports started the year with healthy increases of 15% and 13%, respectively, for January and February, they began to nosedive as the full effects of COVID-19 started to kick in. By May imports were down by 21% (to 152,504 TEU, and in June they were down a catastrophic 40% (to 119,492 TEU) compared with 2019. However, since June, imports have risen significantly to the surprise of almost everyone as shown in the graph below:
Imports data 2019 e 2020 and the difference
The following graph uses Datamar’s DataLiner data to illustrates how the import/export balance has fared in recent months. The month of October showed only 48,500 TEU more exports than imports yet back in June there were 113,000 more TEU exported than unloaded. During both January and February of this year, the gap was just 15,000 (in favor of imports) and 16,000 (in favor of exports) TEU difference.
Trade Imbalance in Brazil (TEU: Jan 2019-October 2020)
With heavy demand for empty containers currently a worldwide phenomenon, a fair degree of “prioritization” has been going on as carriers’ logistics departments try, wherever possible, to send the empties to the “highest paying routes”. There also seems to be a tendency to avoid the longest distance routes as this can mean empties taking 40 plus days to get back to an exporter ready for the next round of stuffing. To a large extent this has meant getting boxes from the US, or Brazil and ECSA as well as Europe back to vessels on the trans-pacific trades which have seen record freight rates, and high profitability for carriers per nautical mile.
Shortage of containers on East Coast South American trade…
As we went to press the Real was trading at 5.3 to the US dollar and 7.0 to the Pound Sterling, up from an average of about 4.2 to the greenback between 2016 and 2018, which are close to historic highs, and massive increases over recent years. It peaked at R$ 5.89 to the dollar on May 14 of this year. Throughout 2019 the average exchange rate was around 4, and 3.2 in 2017. In 2014 the average was 2.3 Reais to the dollar and throughout 2011 it averaged just 1.65, so over the past five to six years Brazilian goods have become 250% cheaper to buy on the international markets.
And since COVID-19 broke and consumers around the world cannot spend their cash on holidays and travel (because it is banned or, at best, restricted), or eat out (many restaurants are closed) or even use services and entertainment (such as beauty parlors, gyms, sports clubs, movies, and the theatre), they have instead since mid-year been spending on better quality food and home improvements and re-equipping their offices and homes with TVs and electronic goods. This has led to a dramatic increase in meat and fruit exports out of Brazil, in the first instance, and then, once some consumer confidence had returned, on items for the home such as fridges. Regular handouts from the Bolsonaro government to the poorest sectors of society have also kept cash circulating and oiling the economy, especially via online and direct shopping.
And the thirst for electronics has accelerated recently with the Black Friday sales (November 27) and the perennial Christmas rush which, in turn, has led to a chronic shortage of empty containers (see below) especially in Brazil and loading ports on the East Coast South America.
“Currently Brazil faces container shortages partly because of the record freight rates on the Trans-Pacific trade lanes between China and the US,” Patrik Olstad Berglund, the CEO for Xeneta, the Norway based freight rate benchmarking outfit, told Datamar.
Berglund explained that with Transpacific rates soaring ever higher since mid-year, when North Americans decided they would spend on DIY and home improvements as well as refurbishing their home offices, empties from all around the world have been quickly funneled back to China by shipping lines who are keen to make hay while the profitable sun is shining, thus leading to Brazil facing container shortages.
“It is first and foremost about supply and demand,” explained Berglund. “This year, on top of that container shortage, there has been a heavy demand for boxes so the situation is that shipping lines do not want to transport cheap containerized agricultural products to Asia because it takes too long to get the box back to the front haul where there is so much demand and the rates are very high.”
In the past when there was less of a differential it might have been possible for shippers to get US$500 for the back-haul box, carrying something like fertilizers or soya beans, but now that would be to the detriment of profits on the front haul.
…Leading to record freight rates…
Freight rate pricing index platform, Xeneta, reported that spot rates from China (main ports) to West Coast United States in 2019 were stable, averaging about US$1600 per dry FEU during 2019, and ranging from US$1300 to US$2200. At the start of 2020, these spot rates continued in that vein until May/June after which there were large incremental jumps during the middle of each month (General Freight Increases) taking the spot rate up to US$3000 per FEU by July and just under US$4000 from the end of September up until early December.
Xeneta also posted that rates from China to Panama (where a lot of West Coast South America and ECSA cargoes are transhipped) had rocketed this year from a low of US$1263 per dry FEU on June 13 to a high of US$5,028 on September 16, an increase of 291% in just two months! The average for July was US$1481, for September US$5000, and for October US$4,400 per FEU. In early December they have now reached US$4,841, according to Xeneta.
Regarding China-ECSA, which is always a volatile trading lane, Berglund said this year had been in keeping with that tradition.
“From November 2019 rates were already trending upwards because of costs involved in IMO 2020 compliance,” he told Datamar. “Then by January 2020, spot rates from China (main ports) to Santos were US$1934 per TEU and US$2513 per FEU. From January to the end of July rates continued downwards until they hit their lowest in July, of US$836 per FEU and US$760 per TEU. After that they rapidly increased to record levels of more than US$5000. From mid-year rates have increased on this volatile trade lane by more than 500%, which is unprecedented.”
Xeneta figures then reveal that rates from China to Brazil went exponential. By the end of August to the beginning of September, rates hit a record US$4,616 per dry FEU and US$4,521 per dry TEU: the previous record was US$3,800 back in 2018. By mid-October, they had reduced slightly to US$4,085 per FEU, but then, as we went to press in early December, smashed through the US$5,000 barrier to US$5,300 per FEU. which is now the highest in the world, although not per nautical mile.
“Most of the increases came in August and September, and then rates were fairly stable after that until mid-November when they pushed upwards again,” explained Berglund. “It’s due to a combination of equipment availability and capacity relative to the market.”
Not only have the rates been much higher all year on the Trans Pac routes but the voyage time there is much shorter (12 to 14 days from Shanghai to LA/Long Beach) compared to ECSA to Shanghai, which is 34 to 38 days (from selection of carrier offerings, including Hamburg Sud and MSC). Those voyages involve intervening ports of call but a direct sailing, at 15 knots, from Santos to Shanghai in China would take 30 days to cover the 11,140 nautical miles, while Shanghai to Los Angeles would take 16 days covering 5,741 nautical miles, which is half the time. Therefore, you can see clearly that to maximize their profits it makes much more sense for shipping lines to get their empties back to Trans Pac vessels as quickly as possible, to the detriment of ECSA trade routes.
Whilst demand has heated up, another factor that has helped keep freight rates strong has been better control of the supply side of shipping. Carriers have, for the past three years, been very careful not to provide too much capacity on ECSA to Asia and most other routes, so as to prevent the catastrophic (from their point of view) consequences of early 2016 when rates were very low and even went below $100 per TEU (China to Santos) at one point. Carriers lost millions of dollars that year and have been taking careful steps – by slashing capacity that year by 40% and restricting new capacity – to make sure that doesn’t happen again.
Even this year, after China shut its ports and closed many factories, carriers introduced several blank sailings to keep capacity low and rates high but from mid-year it has been, regarding vessel deployment, “all hands [of ships] on deck”, as Drewry’s Heaney told Datamar, to deal with the pent-up demand. Once that demand kicked in all the laid-up vessels were gainfully deployed and very few ships were available on the charter market.
“Because shipping lines have found ways to control capacity like we have never seen before they have managed to keep rates high,” said Gustavo Costa, a highly regarded consultant and former logistics and cabotage manager at Hamburg Sud.
He noted that MSC and others were buying second-hand tonnage and “the chartering market is sky high with 5,000 TEU vessels costing US$15000 per day, compared to just US$9000 a day 3 months ago.”
Another executive of a shipping line heavily involved in coffee exports out of Brazil said sometimes it was the shippers themselves who were to blame for not being better organized and for booking space on ships while covering possible future options that often did not materialize.
“Overbooking and last-minute pull-outs by cargo owners doesn’t help maximize the space that we do have on vessels so reliable advance bookings would reduce last-minute panicking,” he divulged.
…and the ‘black swan’ effect.
Simon Heaney, the senior manager for container research, at Drewry’s consultancy and editor of the Container Forecaster, has written incisively and prolifically about the “Black Swan” events [ones that are highly unlikely to happen but do occur sometimes] that are dominating container shipping during this very strange and bizarre year of COVID-19:
“The current state of the container market is one of dysfunction, bordering on chaos,” explains Heaney. “Supply chains have been stretched to near breaking point by the unprecedented volatility in demand swings this year, the result being numerous port congestion notices popping up in all continents, from Sydney to Felixstowe and many places in between.”
Drewry’s indicates that Los Angeles/Long Beach, Lisbon, and Fuzhou in China have also been heavily congested, causing delays and exacerbating the container shortage.
One partial solution to the empties’ shortage is to manufacture more containers and although that is occurring in the few plants remaining – Maersk closed down its container plant two years ago and Paulista Containers, in Santos, closed for business more than a decade ago – they can’t be built quickly enough to plug the gaps for the current deficit.
“Manufacturers of containers are fully booked until June of next year and the demand is still growing,” Costa told Datamar. “As has been the case in the past if you have strong East-West trades then it means the North-South trades will have to pay the bills as they are the less paying freight. East-West rates are now sky high and increasing every week…”
Share prices of the few remaining container manufacturers, mostly located in China, have been booming in recent months.
Container shortages curb Brazil’s trade.
Clearly, the weaker Brazilian Real has been extremely good news for exporters –beef shippers such as JBS and BRF, plus chicken exporters such as BRF (which slaughters 7 million chickens and 34,000 pigs a day and exports to 120 countries) Aurora, Seara, Copacol and Super Frango, as well as producers of orange juice, coffee and many exotic fruits such as mangoes, melons, watermelons, bananas, lemons and limes, grapes, papaya, and pineapples – but those economic skies have, in recent months, been laced with some grey clouds in the guise of Brazil facing container shortages of empties in which to fill the lucrative export goods.
Various shipper associations, including, Sindipecas (The National Association of Brazilian Auto Parts manufacturers) and Abipeças (The Brazilian Association of the Auto Parts Industry), Anfavea (the Brazilian Association of auto manufacturers), Abrafrutas (Fruit exporters association), ABPA (the Brazilian Association for Protein producers) and Cecafé (the Brazilian Council for Coffee Exporters) have been complaining about the shortage of empty containers that has been acting as a heavy anchor on further export flows for Brazil.
Since the middle of this year coffee exporters, led by their National Council for Coffee Exporters (Cecafé) have been complaining vociferously about the lack of empty containers impeding their expanding exports.
According to DataLiner in September of this year, Brazil achieved record levels of coffee exports, growing 15.4% year-on-year to reach 13,154 TEU, which was an increase of 14.64% compared to 2018, but it could have been many more if not for the shortage of empty containers.
Nelson Cavalhaes, the president of Cecafé, said that the month of September, when shortages of empties began to bite, also marks the beginning of the 2020/2021 harvest and he pointed out that export sales could have been up to 15% if not for the box shortage.
“We are very satisfied with the results of coffee exports in September. The sales volume set a record in relation to the same month in previous years and, in addition, we had a very significant increase in total revenue in Reais,” he told Datamar News.
“We also observed that the results could have been even 10-15% better had it not been for the logistical problems of a lack of containers and space on the vessels.”
Mark Juzwiak, the director for Institutional Relations for Hamburg Sud and Aliança Navegação, said that several high-level meetings had been held with coffee exporters and efforts had been made to meet their demands and address concerns.
“I had several meetings with the coffee association as they had concerns about the perceived lack of containers,” he told Datamar. “We brought a ship full of empties over from the US and another with 2500 reefers from Europe back in June to help plug the empties’ gap.
“We honored our commitment with the contract-based shipments and whatever was extra we tried our best to accommodate but, as we pointed out to the coffee shippers, it was not just the lack of empty containers but also a lack of space on the ships.”
Just as we went to press, Cecafé released the news that October had been even better than September, with a 21% increase up to 4.44 million bags of coffee exported. The Cecafé spokesman added that after a poor start and middle of the year exports are now 3.2% up on last year and that some, but not all of the logistical problems have been resolved.
“With COVID-19 it has been a challenging year, but it has been an amazing result to have exported 35.4million bags from January to October, with records broken in September and October,” he stated. “Our members have had problems with container shortages and rollovers, especially in September and October and we continue to have challenges, but they are fewer now than they were. Coffee exporters do still suffer from increased port and maritime expenses, but overall, it has been a good year.”
Meanwhile, on the import side, Costa commented: “Everybody is complaining about the lack of parts, those needed to assemble TVs and other electronic goods, plus, auto parts for cars,” he told Datamar. “This was because many manufacturers shut down their plants for long periods mid-year or were at half-capacity. Now, however, they are full out and have three shifts running at the same time. This has especially been the case in the Manaus free trade zone in the run-up to Christmas with the plants producing White goods. Consumers want their goods and want it now but there is no space on vessels to accommodate those demands.”
Datamar’s latest figures (up to the end of October) show how the import of vehicle parts plummeted from 21,576 TEU in April, to 11,352 TEU in May and then to 7,230 in June before picking up again to register 113,620 TEU by the end of September.
Costa also asserted that the shortage of empties was having a knock-on effect with the Brazilian cabotage trades. “At some ports, it looks like cabotage has been paralyzed!! The shortage of containers in the US and elsewhere is getting critical in Brazil here as well,” declared Costa. “Due to the lack of containers from the Deep-Sea services, only Log In Logistica can manage their own. The other coastal operators seem to be handing over priority to deep-sea needs.”
In Brazil, there are three coastal carriers and two – Mercosul Line and Alianca – which are fully owned by CMA CGM and Hamburg Sud/Maersk Line, respectively. Log-In is fully focused on Brazilian interests and so has no need to hand over its much-needed empty containers to deep-sea sisterships.
Looking ahead to next year, most of the experts interviewed for this feature, agreed that the current high freight rates are not sustainable in the mid to long term, but that they will continue into the New Year.
“But how long will this boom last? I think it could last at least until after the Chinese New Year, [which is the year of the Ox and starts on February 12, 2021], so we are not expecting a first-quarter dip,” said Drewry’s Heaney. “All export trades out of Asia are still soaring, back-haul trades as well, so the trend to get containers back to Asia asap will continue for carriers for a while.
“What we are also seeing is that other freight rates, such as China to ECSA, are leveling up and there is an optimal ceiling as to how high rates can go…they are very high and its v profitable… chasing the money but as the other trad lanes are coming up as there are shortages everywhere and so carriers are having to put their rates up in other areas, which will become equally expensive. It’s been a rising tide for all trade lanes.
“But the bubble will eventually burst, probably after Chinese New Year, due to the fundamentals. If it’s for immediate consumption that is one thing. but if it’s for re-stocking that will eventually create a vacuum and even with the vaccine coming there is the economic damage that must be dealt with; high unemployment will come, and government debt is going up. A few more months of this and then it will settle down. The supply chain will right itself back to normal then. Too many ships, etc and lower rates for shippers.”
Xeneta’s Berglund was of a similar opinion: “Over the past year we have never, ever before seen anything like this, in either the China to WC USA or China to ECSA,” he explained to Datamar. “The rates have quintupled on ECSA since midyear and are still rising due to the shortage of equipment. However, I think with the arrival of the vaccine spending will switch away from physical products and back towards services and travel, probably at some point during the first half of next year, and that will see volumes calm down.
“From a shipper perspective, contract negotiations are ongoing and many are asking for extensions on existing long-term contracts which have risen by 30% in recent months [from $1528 per FEU to $2010], before they rise again”
Berglund also pointed out that regulatory authorities might also be set to intervene if rates go too high. “Our data shows that the spot rate from China to US west coast was very stable, around $3,900 from late September through into October, and I have not seen that before. This suggests the carriers have been warned that their rates are too high for shippers. Ever since Xeneta opened for business, we have never seen this flattening of the spot rate before for such a long time.”
And Hamburg Sud’s Juzwiak said that many of the problems encountered earlier in the year had stabilized and that “most trade lanes were balanced now.
“At certain times this year we have had an excess of standard 40 footers, but everyone wants high cube, so we offered better rates for standard boxes to ease that problem,” he told Datamar. “I think going into Christmas and 2021 the ships will be full for a few months yet, probably till Chinese New Year and Carnival [which both start on February 12].”
Patricio Campbell, the President of ONE in Argentina, said he could not see the import impetus lasting beyond Christmas, but then again Argentina’s economy is more than Brazil’s.
Costa believes the US and China situation will still be key for international trade. “I cannot say when the next normal will be, maybe mid next year with vaccines,” he told Datamar. “But there’s a point that we cannot discard, which is Biden being elected as new US president. How will the US act in international trades next year?
“Trump was a crazy guy but will it be so very different from the past four years of craziness with Trump?
“China has a lot more power now because Trump’s policies created a power and trading vacuum so we now see new trade flows from Asia independently from the US.”
Among the container carriers there have also been winners and losers during this pandemic afflicted year.
On the imports side Hamburg Sud was the biggest loser, dropping nearly 58,000 TEU, and 14% down to around 360,000 TEU for the first nine months of this year. Second highest importer, MSC. also fell 14% (to 327,000 TEU), while Hapag Lloyd dropped 12% and Maersk fell 5%. Biggest loser in percentage terms was Pacific International Lines, which dropped 23% to 41,200 TEU.
Imports by carriers | Jan to Oct 2019-2020
wdt_ID Carrier 2019 TEU 2020 TEU Diff % 1 HAMBURG-SUD 417.965 359.493 -14% 2 MSC 380.091 326.923 -14% 3 HAPAG LLOYD 301.904 266.445 -12% 4 MAERSK LINE 245.891 232.800 -5% 5 CMA-CGM 220.485 213.518 -3% 6 OCEAN NETWORK EXPRESS 127.809 116.768 -9% 7 COSCO 102.446 87.414 -15% 8 EVERGREEN 76.890 66.176 -14% 9 PACIFIC INTERNATIONAL LINES 53.817 41.200 -23% 10 ZIM 32.299 25.396 -21% 11 LOG IN LOGISTICA SA 17.411 17.614 1% 12 YANG MING LINE 16.226 14.241 -12% 13 HYUNDAI MERCHANT MARINE 13.881 11.950 -14% 15 GRIMALDI LINE 5.106 2.513 -51% 16 NDS 532 476 -11% 17 MARFRET 4 9 125% 18 WALLENIUS WILHELMSEN LINES 4 0%
On the export side MSC has had an excellent year, with 580,241 TEU handled, up 16%, while Hamburg Sud fell 5% down to 422,864 TEU, all for the first nine months of 2020. Maersk Line, in fourth, rose 12% (to 334, 833 TEU) and Ocean Network Express (ONE, which focusses heavily on ECSA to Far East), in sixth, jumped 8% compared to 2019 first nine months, with 95,984 TEU,
Exports by carriers | Jan to Oct 2019-2020
wdt_ID Carrier 2019 TEU 2020 TEU Diff % 1 MSC 502 580 16% 2 HAMBURG-SUD 443 422 -5% 3 HAPAG LLOYD 402 406 1% 4 MAERSK LINE 298 334 12% 5 CMA-CGM 258 261 1% 6 OCEAN NETWORK EXPRESS 89 95 8% 7 EVERGREEN 48 48 -1% 8 COSCO 57 48 -16% 9 ZIM 35 32 -9% 10 PACIFIC INTERNATIONAL LINES 27 21 -20% 11 NDS 13 15 11% 12 LOG IN LOGISTICA SA 10 11 9% 14 GRIMALDI LINE 11 8 -27% 15 HYUNDAI MERCHANT MARINE 7 7 -4% 16 YANG MING LINE 8 7 -14% 17 MARFRET 5 7 30%
Source: Dataliner (To request a DataLiner demo click here)
Journalist: Rob Ward for DatamarNews
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The ski glasses producer “Naked Optics” from the sound of music city of Salzburg on the border of Germany is currently running its naked people campaign on social media and it is proving an enormous success.
They said they were inspired to come up with the saucy strategy by the company’s name “Naked Optics”, and that it involved one of the company founders and some friends getting undressed in front of the camera to advertise the ski goggles.
The manufacturer has been producing its unique line in China for a low price, using the same company as other big name manufacturers, meaning customers get the same quality at a lower price, hence the no-frills name “Naked Optics”. They are also selling them exclusively on the internet, which again cuts costs.
Christoph Fink, 28, the founder of the company, said: “This way, the margins for the retail sector are shortened in some cases to 100 percent, while the costs for the design and the fee for the employees are removed.”
Source: Central European news.


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The Department of Industrial Policy and Promotion (DIPP) is anticipated to launch the very last e-commerce policy soon, reportedly stated Suresh Prabhu, the minister of trade and industry and civil aviation, on January 30. The minister changed into talking at an occasion organized by the Federation of Gujarat Industries. He, in addition, introduced that the critical government will listen to the hints made by way of the World Trade Organisation (WTO). Still, the e-commerce coverage recommendations will be finalized with the aid of the government.
In a bid to enhance the local business in India, the minister also announced that the critical government is seeking to introduce ‘sub-national’ – ease of doing business parameters so that you can be measure authorities’ reforms on the district degree.
This assertion comes in right only a day earlier than changes in the FDI policy for e-commerce are set to return into effect from February 1, 2019. The draft e-commerce policy, which turned into to started with drafted using industry stakeholders, became publicly announced in August 2018 by the Ministry of Commerce and Industry.
However, the e-commerce draft became stalled due to inter-ministerial differences as many departments and ministries believed that the consultations passed the commerce department’s brief. To clarify the problems, in September 2018, the primary government had set up a panel along with secretaries across branches and ministries led using DIPP secretary Ramesh Abhishek. A month later, the authorities handed over the e-commerce coverage to the department.


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Digital TV News: SAORVIEW
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1) Mexico has become America’s largest trading partner as a result of the U.S. – China trade war. For the first half of 2019, trade between America and Mexico was $309 billion dollars worth of goods, just over 15% of all U.S. trade. In comparison, trade with Canada was $306 billion dollars and China at $271 billion dollars. Trade with Mexico has been steadily rising for several decades, while trade with Canada has historically been high it’s always been flat.
2) A battle may be developing between Amazon and FedEx over handling packages, because of surging e-commerce shipments. With their ground delivery deal ending, FedEx is deepening its pullback from Amazon. The ending of two delivery contracts with Amazon means FedEx will have to seek out new major customers for lost sales while Amazon will now depend more on the U.S. Postal Service and UPS. FedEx is seeking to serve major e-commerce companies such as WalMart as the one-day delivery service for e-commerce heats up.
3) Lift, the internet based ride sharing rival to Uber may become profitable sooner than anyone had predicted. It’s growth is accelerating faster than anticipated, which clears the path to profitability. Some are speculating that 2019 might be Lift’s ‘peak loss’ year with losses being less than 2018. Wall Street is acting positive over the news with Lift’s stock rising from an overnight boost of 4%.
4) Stock market closings for – 9 AUG 19:
Dow 26,378.19 up 371.12
Nasdaq 8,039.16 up 176.33
S&P 500 2,938.09 up 54.11
10 Year Yield: up at 1.72%
Oil: up at $52.81


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Real Estate • May 5, 2016
30th Annual Windermere Cup
by Bruce Clouse
Uncategorized Eastside Market Update – May 2016 Market Update – May 2016 The supply of homes for sale in April was up over March, indicating that more sellers are deciding to list their homes. But with less than a month of inventory available in the area, it’s still a seller’s market. While prices were up over last year, the increases aren’t as […]


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The Central Bank of Nigeria (CBN) is now to allocate foreign exchange to end-users, with priority given to matured Letters of Credit, importation of petroleum products, raw materials and machinery. This is in a bid to effectively manage the nation’s depleted foreign reserves.
This came as Nigeria’s foreign trade report for imports and exports during the third quarter of 2015 has shown an unprecedented decline reflecting the level of stress the economy has witnessed since this year.
Director, Monetary Policy of the CBN, Moses Tule, who spoke in Abuja, at the weekend said under the new regime, those who take pleasure in wasting the nation’s foreign exchange in shopping abroad would find it increasingly difficult.
He said, “Our priority as a nation for the allocation or use of foreign exchange is for the settlement of matured Letters of Credit, LCs, that have been opened for importation; for the importation of petroleum products until such a time when we have our refineries fully operational and we are not in a position to import fuel again to ensure that the wheels of economic development continue turning and running and for the importation of raw materials.
“By the time we meet these three priority areas, you will discover that people who are using their debit cards overseas for shopping can never be on the priority list.
“We do understand that it may not be all that the demands will be for shopping. We have seen that the reserves are not there and what we have we will use essentially for the purposes that will keep the wheels of the economy running. We have to produce for export, we can’t continue to depend only on the export of crude oil.”
He said that the CBN synpathised with Nigerians on the ban of the use of debit cards abroad but that there was nothing the institution could do on its own to change the nation’s foreign exchange earnings, as it largely depends on oil receipts.
“It is a healthy development where Nigerians can no longer use debit cards abroad. But it is inconvenient. Right now the country is going through very difficult times because of developments in the oil market. Foreign exchange under the condition Nigeria has found itself has become a seasonal commodity. Seasonal in the sense that it depends on the movement of the price of oil. If oil prices are high, then we build reserves, if oil prices are low, then we have no reserves and we will be in a crisis situation.
“Does the CBN sympathize with the situation Nigerians find themselves not being able to use their debit cards outside the country? Yes the CBN certainly does sympathize with the hardship Nigerians are facing, but can the CBN stop it? The CBN cannot stop what the banks are doing now and the reason is very obvious,” he said.
Tule indicated that the policy would not be reviewed any time in the short term, as according to him, the reserves which currently stand at about $29 billion would have to be built up to a figure of around $50 billion before free use of the foreign exchange could be restored.
“The moment we begin to build reserves, we expect that just as this restrictions were not there, most of the restrictions will be lifted but for now, every hand needs to be on deck. We need to earn foreign exchange as a country.
“You can improve your business processes in order to export and earn foreign exchange and that is what the country is calling on patriotic Nigerian businessmen to do,” he added.
Foreign trade drops by N2.5tr
Meanwhile, Nigeria’s foreign trade report for imports and exports during the third quarter of 2015 has shown an unprecedented decline reflecting the level of stress the economy has witnessed since this year.
A huge drop in crude oil export appeared to have taken a toll on the ability of the economy to finance imports as the Central Bank of Nigeria (CBN) tightened its restrictions of foreign exchange utilisation within the period.
According to the foreign trade statistics released by National Bureau of Statistics, NBS, compared to the corresponding quarter of 2014, the value of total merchandise trade comprising Nigeria’s imports and exports in third quarter 2015 decreased by N2.5 trillion or 38.3 per cent. Total value of trade in the third quarter of 2015 was N4.02 trillion as against N6.4 trillion in the corresponding period of last year.
This, according to the report, was as a result of a N132.4 billion or 7.3 per cent and N 2.4 trillion or 50.3 per cent decline in imports and exports respectively relative to the corresponding quarter in 2014.
The third quarter 2015 reports also show steady decline in the economy sector as the value dropped by N338 billion against the preceeding quarter of 2015.
Quarter-on-quarter, the sharp decline in exports and slight decrease in imports contributed to continued fall in the Country’s trade balance, by 32 per cent or N 303.1 billion during the third quarter of 2015.
Total value of Nigeria’s imports during the quarter stood at N1.7 trillion, a slight decrease of one per cent from what was recorded in the preceding quarter, but, year-on-year analysis showed that the country’s imports decreased significantly by N132.4 billion or 7.3 per cent, reflecting the siginificant difference in the economic conditions between the periods.
Total value of the nation’s exports totalled N 2.3 trillion in the third quarter of 2015, a decrease of N320.6billion or 12.1 per cent, over the value N2.65 trillion recorded in the preceding quarter.
This decline, according to NBS, was attributed to a fall in crude oil exports by N372.8 billion or 18.8 per cent over the preceding quarter.
The structure of Nigeria’s imports by section was dominated by the imports of “Boilers, machinery and appliances; parts thereof” which accounted for 24 per cent of the total value of imports in the third quarter of 2015.
Other commodities which contributed noticeably to the value of imports in the review period were “Mineral products” at 15.3 per cent, “Vehicles, aircraft and parts thereof; vessels etc” at 8.8 per cent, “Products of the chemical and allied industries” at 8.6 per cent, and “Base metals and articles of base metals” at 8.4 per cent.
Imports classified by Broad Economic Category, revealed that Industrial Supplies “ranked first with N470.3billion or 27.9 per cent of total imports. This was followed by “Capital Goods and parts” with the value of N398.7 billion or 23.6 per cent, and “Food and Beverage” with N322.8billion or 19.1 per cent. The value of Motor Spirit (petroleum products) stood at N220.6 billion.
Nigeria’s imports by direction (country of origin), showed that the country imported goods mostly from China, United States, Belgium, Netherlands and India which respectively accounted for N459.4 billion or 27.2 per cent, N160.6 billion or 9.5 per cent, N128.3billion or 7.6 per cent, N101.8billion or 6 per cent and N97.4billion or 5.8 per cent of the total value of goods imported during the quarter.
Further analysis of Nigeria’s imports by continent, revealed that the country consumed goods largely from Asia with imports valued at N764.5 billion or 45.3 per cent of total imports while it imported goods valued at N596.4 billion or 35.3 per cent from Europe and N241.3 billion or 14.3 per cent from the Americas.
Import trade from Africa stood at N65.4 billion or 3.9 per cent while imports from the region of ECOWAS amounted to N16.3 billion.
The structure of exports is still dominated by crude oil, which contributed N.6 trillion or 69.1 per cent to the value of total domestic exports in the third quarter of 2015. Natural liquefied gas recorded N265.2 billion of the total export value during the period under review.
Exports by section revealed that Nigeria exported mainly “Mineral Products”, which accounted for N2.025 trillion or 86.8 per cent of the total exports.
Other products exported by Nigeria include those catigorised as “vehicles, aircraft and parts thereof; vessels etc.” at N216.2 billion or 9.3 per cent; “prepared foodstuffs; beverages, spirits and vinegar; tobacco” at N33.1 billion or 1.4 per cent, and “vegetable products” at N9.3 billion or 0.4 per cent of total exports.
Copyright Ships & Ports Ltd. Permission to use quotations from this article is granted subject to appropriate credit given to www.shipsandports.com.ng as the source.


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UPDATE: Flora’s new packaging features the wording ‘suitable for vegans’. It is NOT suitable for vegans. They’re promoting their other products as alternatives, so double-check before you buy.
Their ‘100% Plant Goodness’ strapline isn’t quite accurate as Flora add buttermilk to their once vegan ‘Flora Buttery’ recipe.
The announcement last week from the butter brand came as a shock to their vegan and dairy-intolerant fans, who had long-championed the company’s commitment to developing their dairy-free range before becoming the first major brand to become 100% plant-based. Flora have now changed their strapline to ‘100% Natural Goodness’, citing feedback from customers that they missed the real buttery taste:
“Having listened to a significant number of consumers who miss the familiar taste of buttermilk in Flora Buttery, some customers are not ready to join the plant-based journey yet and are seeking an alternative product.”
Whilst they have updated their packaging to reflect the new recipe and the Vegan Society logo has been removed, the change has brought a huge backlash from their vegan fans. Flora haven’t confirmed the number of customers who complained they missed the buttermilk in the original recipe, and many wonder if this is comparable to the number of vegan and dairy-intolerant customers who will no longer be able to purchase Flora Buttery – many of whom are boycotting the brand altogether. It’s a bold business move, to backtrack on a pioneering campaign that set themselves ahead of their competition with a 100% vegan product range that not only benefitted animals, but the future of our planet. Many former-fans have commented that they were never truly committed to their statement of a plant-based future, and that boasts of health benefits are lost with the addition of the cholesterol found in buttermilk.
The products that are still currently suitable for vegans are:
- Flora Original
- Flora Light
The product that is no longer suitable for vegans is:
- Flora Buttery
Here’s a guide to the packaging and labelling changes:


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I only heard this term recently, as one of my students is beginning a research project on the topic. The idea, of course, is that the more food you eat from local sources, the better your impact, or lack there of, on the environment. (Well, I had heard of this concept before, but not that particular term.)
“Buying local is like a hippie movement of 2008, but is it really a good use of a college graduate’s time,” asked food science professor Joe Regenstein. Indeed, is it not “indulgent and hedonistic?” He had just heard Cornell nutrition expert Jennifer Wilkins analyze claims made by “locavores” in a panel discussion on supporting local food producers Feb. 28 in Emerson Hall.
I agree that biasing consumption towards locally grown resources is not necessarily the best idea. It may require such expenditure of energy, and heroic use of chemicals, to grow certain foods locally that we are better off having certain foods shipped over longer distances. What is really needed is not a locavore movement, but rather a “smartavore” movement, where we take into account all of the different relevant factors and make rational decisions. Is that too much to ask?Probably.The locavore movement will certainly become politicized and polarized, or indeed, it already has. You are either a locavore or you are agin’ the locavores. Economists at both sides of the political spectrum will whip out models that disprove what the other side is saying. And so on.Here is the rest of the Cornell Press Release cited above:
Said Wilkins, a senior extension associate at the Division of Nutritional Sciences: “The Empire State Poll results indicate that there has been an increase in ‘local heroes,’ who believe locally grown food is important enough for them to go out of their way to get it.” The number of farmers’ markets nationwide, she said, increased to 4,386 in 2006 from 1,755 in 1997. “National research has also shown that whether food is grown locally affects food purchases more than whether it is grown organically.”She added, “Conventional markets tend to favor varieties chosen for yield, growth rate and shipability — commercial traits often come at the expense of nutrition and taste.”Regenstein, however, said that changing how Americans eat and improving the overall nutritional value of food are much more urgent needs than eating “local.” He said, “One of the beauties of our food supply system is that it draws from all kinds of soil, which prevents certain nutritional deficiency from food that is grown from only one kind of soil.”Despite the two widely differing perspectives, eating local food has become a growing trend at Cornell and in the Ithaca community. Cornell Cooperative Extension is actively involved in the local food campaign in Tompkins County. Through the Local Food Growers Initiative, Cornell Dining is purchasing about “30 percent of its food locally,” according to Anthony Kveragas, a Cornell senior executive chef, who participated in the discussion.Panelist Ken Goodwin, service manager of Ithaca Wegmans supermarket, described Wegmans’ commitment to supplying local food as a response to consumer demand. “Ithaca Wegmans has the highest demand for organic products among all of our 70 stores,” he said. Ithaca Wegmans works with 24 local suppliers providing everything from produce to beer and cheese.According to Wilkins, the fewer miles food is shipped, and consequently the reduction in greenhouse gas emissions, are factors that justify buying local.”To transport the same food, the conventional system releases four to 17 times more carbon dioxide than a local system,” she said, quoting from a recent Iowa study. However, “mode of transport matters, too,” Wilkins said, citing a study showing that, on a per bottle basis, fewer emissions enter the atmosphere when “a Bordeaux [wine] is transported by container ship to New York than a cabernet from California by truck.”Food safety is another issue that concerns both sides of the debate. Wilkins said that “while local food is not by any means immune to contamination, the consequences of a problem in a highly concentrated food system are far greater. Also, I suspect that smaller, more localized production and processing systems are less attractive to terrorists.”Regenstein, however, argued that “many local growers are not trained to process food properly.”The locavore lifestyle, he said, is “indulgent and hedonistic” when “three people drive their BMW for 30 miles to pick up 5 pounds of produce.” Higher yields per acre is more important than growing 20 different crops on a local farm, he declared. “We should use resources more wisely because we have over 6 billion people on this planet.”The panel discussion, moderated by Ellen Harrison, former director of the Cornell Waste Management Institute, was part of the Crop and Soil Sciences Seminar Series at Cornell.


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Equipped with automation features designed to increase productivity and efficiency, the plinth-mounted seven-colour press with twin coaters expands the Leicester-based company’s finishing options and product portfolio.
The technical features on the press include non-stop and logistics systems, DriveTronic SIS sidelay-free infeed, fully automated plate changers, QualiTronic ColorControl for inline colour control with extensive reporting software, as well as press networking with pre-press and the company’s MIS via LogoTronic Professional.
Jason Short, Qualvis’ managing director, said: “We are very impressed with the quality and performance of the Rapida 106, which will be used for printing confectionery, distillery, cosmetics and high-end food packaging.
“We have kept a close eye on KBA since our last press purchase in 2012 and wanted to make sure this new press was going to set us apart from the competition and would be a game changer for us.”
Qualvis manufactures a wide range of packaging for food, beverages, media, cosmetics, confectionery and household goods.
Source: News – Packaging News | Jobs | Production | Design | Innovation


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By Virginija ZYGIENE
The XVIII International Jewellery Show “Amber Trip” – the largest event in the jewellery and amber industry in the Baltic States – will be held on 16-19 March in Vilnius. Giedrius Guntorius, the organizer of the “Amber Trip” show, talks about the exhibition and how the sector is recovering after the pandemic.
“AMBER TRIP” IS RETURNING AFTER A YEARLONG BREAK. WHAT WILL THIS EXHIBITION BE LIKE? During the first year of the pandemic, “Amber Trip” was probably the only jewellery exhibition in the world which had to be closed down only a couple of days after the opening of the exhibition due to the restrictions imposed by the Lithuanian government. The organizer of the exhibition found himself in a non-standard situation that no one could have foreseen. “Therefore, I would like to once again thank the entire community of this sector for their support and understanding that we were forced to unexpectedly close down the show. Last year we did not organize another “Amber Trip” show due to quarantine restrictions. There were attempts to organize a virtual “Amber Trip” jewellery show.
We are happy no announce that the exhibition is once again returning after a yearlong break. I admit that it is not easy to come back, since what we have cultivated before has cracked, and certain relations were lost. There were opinions that it is not worth holding the event this year, and we should wait until 2023. However, our regular and largest exhibitors encouraged us to organize this most important jewellery event in the Baltic States, even during such a difficult time. Therefore, I decided to manifest these thoughts into reality and fulfil their wishes.”
The “Amber Trip” show that will take place on 16-19 March in Vilnius, the capital of Lithuania, will be 85 percent the size of what we had in 2020 in terms of area and number of participants. We expected this number to be less than 50 percent. The fact that the exhibition will be larger than expected reflects the optimistic views of the future of all jewellery and amber industry participants.
In terms of challenges, there are smaller or bigger ones in every exhibition. There was no shortage of challenges both in the first year of the pandemic, as well as now, or in 2008. These challenges change every year. Even though the pandemic has not yet ended, “Amber Trip” is sending an important message to its participants and guests that the show has been reborn.
It is important to note that strict requirements for events have been lifted in Lithuania amid the subsiding pandemic. Entrance to the exhibition will be free of restrictions.
PLEASE TELL US MORE ABOUT THIS YEAR’S SHOW
“Amber Trip” participants are returning with new collections of jewellery and amber items, which were displayed online and in photos during the pandemic. Jewellery, as I say, will “land on the ground”. People naturally want to be able to touch works of art, which gives the exhibition an even greater significance.
The exhibition which will take place at Litexpo, the largest exhibition and conference centre in the Baltic States, will unite over 150 participants, jewellery and amber manufacturers and craftsmen from foreign countries around the world. As usual, we will have participants from Poland, Turkey, Italy, the USA, Japan, Mexico, Switzerland, Kuwait, the Baltic States, and other countries.
As expected, there will be an international jewellery art contest, even though there were discussions on whether to hold such a contest this year. The theme of this year's international jewellery art contest is “About Opportunities”. We want to speak more in the language of jewellery about the fact that losses and restrictions often paradoxically open up opportunities within us which we didn’t even suspect. We hope to receive wonderful works of art for the contest, as usual. Artists from around the world should provide their works for the contest. We are especially pleased that Laima Kėrienė, an artistjeweller and professor at the Vilnius Academy of Arts, agreed to once again head the commission.
We will also have the Author Jewellery Zone. For the fourth time, the Author Jewellery Zone, which is specifically designed for jewellers, will bring together more than a fifth of participants from various countries, not only from Lithuania. It is like a separate exhibition presenting unique works of art and providing guests with a wonderful opportunity to talk to jewellers about their creative directions or to buy articles of jewellery that they like.
There will definitely be pleasant surprises in the exhibition, and we hope that visitors will appreciate them.
LET US BRIEFLY RETURN TO THE SITUATION IN THE MARKET. HOW DID THE PANDEMIC AFFECT THE AMBER BUSINESS?
It is no secret that the jewellery and amber industry was affected by the pandemic and the severe restrictions. Some market participants were severely affected by the pandemic, while others less so, and some of them have adapted to it.
Representatives of the sector working with visitors coming to Lithuania were hit particularly hard. And this was no exception, since imposed restrictions have also severely affected representatives of other countries who receive their income from the flow of tourists. Jewellers were far less affected by the hardships caused by the pandemic. Of course, there was a slight drop in revenue, but there were also those who flourished, since, for example, they attracted more customers through social networks and other means. But there is something to be happy about – during the pandemic, everyone cleared out (sold off) their inventories of unsold works, even though they did not bother to do so before.
Raw materials are becoming more expensive all over the world, and amber is no exception?
As the prices of natural resources rise, so does the price of amber stone. In 2022, compared to the first year of the pandemic, the price of raw amber imported from the Kaliningrad Amber Factory has increased by 20 percent. The price of raw amber is shooting up, even though there is still not much activity among buyers. This is strange, since we have not seen this before.
We still hope that Ukraine will finally issue licenses to trade in amber. Although Ukrainian amber is different from that which is mined in Russia, it is also in demand in the market.


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General Motors Company said Tuesday it will invest about $2 billion in “U.S. assembly and component plants retaining more than 4,000 jobs at 17 facilities in eight states.” GM Chairman and CEO Dan Akerson made the announcement during an event at a 54-year-old Toledo, Ohio Transmission Plant. Toledo is being upgraded to build 8-speed automatic transmissions.
During the next few months, GM said it will make specific facility investment announcements dependent on successful completion of state and local incentives in some communities. Critics, of course, say the cost per job – when you total all the loans, tax breaks and tax loss carry forwards at GM and Chrysler that normally are wiped out during bankruptcy – is exorbitant, especially since what is mostly going on these days is the retention of existing jobs. (See also Ford will invest $400 million in its Kansas City Assembly Plant)
“This new investment is on top of $3.4 billion and more than 9,000 jobs that GM has added or saved since mid-2009,” Akerson said. Critics of the unpopular auto bailouts say these are misleading numbers since taxpayers advanced $50 billion to reorganize a bankrupt General Motors during the summer of 2009. U.S. and Canadian taxpayers still hold 41% of General Motors. It’s estimated that the stock must trade at about $50 a share for taxpayers to get all of their money back.
According to the nonprofit Center for Automotive Research, which has long standing ties with GM and released a new study to coincide with the announcement, the “ripple effect” of the planned investments would add almost $2.9 billion to the U.S. Gross Domestic Product and create or retain more than 28,000 jobs.
General Motors last week announced a 2011 Q1 profit of $3.2 billion, or $1.77 per fully-diluted share, marking the company’s fifth consecutive profitable quarter since it emerged from bankruptcy. Revenue increased $4.7 billion to $36.2 billion, compared with the first quarter of 2010.
The General Motors results were not as strong as they appeared at first glance because special items increased profits by $1.5 billion or $0.82 per fully-diluted share. GM stock is currently selling at under $32 a share, below the initial IPO price of $33 last November. (See General Motors Posts 2011 Q1 Profit of $3.2 Billion. Results Almost Doubled by One Time Sales of Ally and Delphi Preferred)
“We are doing this because we are confident about demand for our vehicles and the economy,” Akerson said.
GM’s U.S. sales through the first four months of the year are up 24.8% compared to 2010, which is outperforming the average growth in the U.S. market of 20%. (See General Motors April U.S. Vehicle Sales Increase of 27%)
The first of the new investments — $131 million and about 250 additional jobs in Bowling Green, Kentucky — was announced last week. Plant improvements and installation of new equipment to make the next generation Chevrolet Corvette will begin soon while the current-generation Corvette is assembled for at least the next two model years.
“The UAW’s goal has been to return all laid-off workers to active status and see the company begin hiring again,” said Joe Ashton, UAW vice president – GM Department. “These announcements will create and retain thousands of jobs and bring General Motors back to full employment of our hourly workforce.”
The United Auto Workers union has 1,357 members on layoff waiting for jobs at GM, UAW Ashton said. Akerson said that once those workers are recalled, GM will start hiring people to fill the remainder of the 4,000 jobs.


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Parlux Fragrances Inc. has entered into a licensing agreement with Iconic Fragrances LLC to launch new fragrance lines by Kanye West and Rihanna. Rap mogul Jay-Z is one of the principals of Iconic. The Wall Street Journal reports that in addition to fragrances by West and Rihanna, Parlux is also in negotiations with Jay-Z and a female singer for two other fragrance lines that will launch in the next two years.
Under the new agreement, Iconic will receive royalties and profit sharing as well as options to initially purchase up to four million shares of Parlux at $5 a piece.
Parlux’s Chief Executive Neil J. Katz said, “We believe this proactive investment by Jay-Z, Rihanna and Kanye West is an indication to the market place of the underlying value of Parlux.”
Katz is hoping the new agreement will soon reflect in the company’s stock price which is currently at ninety cents a share. The share price would have to go up considerably before it would make financial sense for Iconic to exercise their options.
Rihanna and Kanye West’s fragrances are scheduled to hit stores by the summer of 2010.


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BGauss, the electric scooter manufacturer, part of RR Global, is gearing up to launch its latest offering, the D15 electric scooter in India on May 16. The company already offers two products in India, the B8 and A2 and the upcoming D15 will be BGauss’ third offering in India.
Few details have been revealed by the company, however, reservations are open on the official website for INR 499. BGauss claims that the new D15 will be the safest scooter as it promises over 20 safety features, and claims that it is made with the Indian users in mind.
Some of the features include 16 inch wheels, telescopic suspension, combined braking system, LED headlights and full metal body. Additionally, looking at BGauss’ other offerings, the new D15 could sport Android and Apple smartphone connectivity.
The company recently raised a Series A funding of INR 52 crore led by Darshan Patel, Founder of Vini Cosmetics Pvt. Ltd, which will be used for BGauss’ growth plans, including retail expansion in India, manufacturing capacity expansion, R&D and in-house product development on various electric vehicle components .
There are no details regarding the new D15’s battery, range or charging capabilities, however, it could have a range of around 115km per charge. More details will be revealed on the 16th, so stay tuned.