Market Flash

Megalabs has acquired a majority stake in DS Laboratories, further enhancing Megalabs’ position in the global dermatology market and in the United States.

• Megalabs
• DS Laboratories

Parkland Corporation announced that it has entered into an agreement to sell its Canadian commercial propane business to Avenir Energy for approximately $115 million in cash and to exclusively supply the fuel for a period of ten years.

• Parkland
• Avenir Energy

The Food and Agriculture Organization of the United Nations (FAO) recently released its forecast report on global food supply and demand for 2024/25, indicating a relatively optimistic trend.

In April 2024, Vietnam's marine product exports reached $775 million, marking a year-on-year increase of 4.5%. This positive trend is particularly promising for the US, EU, and Chinese markets.

The North Sea herring fishing quota will be reduced by 22.5% in 2025, according to the latest bulletin of CFSE.

According to the latest news, the domestic food industry as a whole achieved stable growth in the first half of 2024, especially some sub-sectors performed particularly well.

According to the information published on the official website of the European Union, in the 23rd week of RASFF alerts in 2024, three alerts involving Chinese food and related products were issued.

The year 2023 undoubtedly marks a significant milestone in the history of medicine, as the industry has witnessed an unprecedented surge in billion-dollar drugs.

In the field of depression treatment, domestic emerging innovative drugs are gradually attracting widespread attention.

According to reliable industry sources, several high-profile pharmaceutical companies experienced significant leadership changes in May.

Recently, international pharmaceutical company Ipsen announced that it will further expand its existing collaboration with Marengo Therapeutics, a start-up company in the field of tumor immunotherapy.

Due to the frequent price fluctuations in the chemical raw materials industry and other reasons, the price of potassium hydroxide flakes is fluctuating. Today we will learn about the factors that affect the potassium hydroxide flakes price.

• Potassium hydroxide flakes price

Birla Carbon has announced that four more of its plants, Cubatão and Camaçari in Brazil, Tiszaújváros in Hungary and Alexandria in Egypt, have received ISCC PLUS certification.

• Birla Carbon

L’Occitane and Carbios unveil the brand’s next generation developments aimed at eliminating virgin plastic from retail products.

• L’Occitane
• Carbios

European Commission promulgated Regulation (EU) 2024/1611, which follows Regulation (EC) No 2015/2283 of the European Parliament and of the Council and explicitly authorizes the placing on the market of isomaltose powder as a novel food.

On June 7, 2024, Japan's Ministry of Health, Labor and Welfare (MHLW) updated the list of food products that have recently violated the country's Food Sanitation Law during import.

European Union's Rapid Alert System for Food and Feed (RASFF) reported that China's exported dried seaweed was found to be non-compliant.

The scallop fishing season in the Okhotsk Sea off northern Hokkaido, Japan has kicked into full swing, with forecasts calling for the catch to surpass 300,000 tons for the sixth consecutive year.

The Cambodian Rice Federation (CRF) achieved fruitful results at the Saudi Food Exhibition held in Riyadh, attracting strong interest from potential buyers in the Middle East and Africa. The federation remains optimistic about expanding the rice market.

On June 5th, 2024, the Italian Ministry of Health issued emergency recall notices for two food products - an Italian ravioli brand and a potato chip brand.