Market Flash

On May 16, 2024, the Argentine company Bioceres said that it has begun to sell its genetically modified wheat HB4 seeds in the country, which is the first time in the world that genetically modified wheat seeds have been sold.

• GMO
• Bioceres
• Glufosinate-ammonium

The medical industry has been facing a challenging period, but domestic Chinese pharmaceutical companies have found a way to turn the tide.

In a landmark move, China's pharmaceutical giant Hengrun has licensed out the global development, manufacturing and commercialization rights (excluding Greater China) of its three innovative GLP-1 drugs to the newly-founded US biotech company Hercules.

As the country's "Pharmaceutical King," Hengrui Medicine, approaches a generational change, a new contender is poised to take the throne – Beigene.

Hengrui Medicine, a leading innovative global pharmaceutical company, has announced a landmark deal.

In a remarkable turn of events for the seafood industry, Argentina has seen a staggering 62.5% increase in its squid catch compared to the previous year.

In a concerning development, the European Union's Rapid Alert System for Food and Feed (RASFF) recently issued a notification regarding substandard Chinese pumpkin seed exports.

On May 17th, 2024, the Korean Ministry of Food and Drug Safety (MFDS) announced that a Korean food manufacturer had produced a nutritional formula product for diabetics that failed to declare the presence of a food allergen - walnuts.

L'Oreal has opened its first smart distribution center in Suzhou, China. The center will become an important hub for L'Oréal to handle D2C and B2B orders in mainland China.

• L'Oreal
• Hai Robotics

Minimalist skincare brand Gntl has expanded Credo Beauty’s in-store presence, highlighting its versatile and sustainable Skin Wash hero SKU.

• Gntl
• Credo Beauty

Nfinite Nanotech announced the completion of a $6.5 million SEED round of financing. The company is led by Collellar Good, with Suzano Ventures participating as a strategic investor.

• Nfinite Nanotech

In a concerning development, the European Union's Rapid Alert System for Food and Feed (RASFF) has reported that on May 16, 2024, Spain notified the system of US-exported almonds containing excessive levels of aflatoxin.

In May 2024, the European Food Safety Authority (EFSA) released a scientific opinion on the safety and efficacy of clove tincture (Syzygium aromaticum) as a sensory additive in feed and water for drinking for all animal species.

The European Food Safety Authority (EFSA) has published its scientific opinion on the safety and efficacy of cedarwood Texas oil (Juniperus deppeana Steud.) as a sensory additive in animal feed for all animal species.

In a request from the European Commission, the European Food Safety Authority (EFSA) has recently evaluated the safety and efficacy of a 6-phytase enzyme (Quantum® Blue) as a zootechnical feed additive for fin fish.

On May 15, 2024, the European Food Safety Authority (EFSA) published its opinion on the safety evaluation of an α-amylase (α-amylase) enzyme.

European Food Safety Authority (EFSA) announced that the Panel on Additives and Products or Substances used in Animal Feed (FEEDAP) has provided a scientific opinion on the efficacy of the feed additive ROVABIO® ADVANCE for weaned piglets.

Canada's Health Ministry has recently issued notices PMRL2024-06 and PMRL2024-07, announcing the Pest Management Regulatory Agency's (PMRA) plans to revise the maximum residue limits (MRLs) for two pesticides.

The United States Environmental Protection Agency (EPA) has recently announced the revision of residue limits for the insecticide Cyantraniliprole in various food commodities.