Market Flash

The Thai Food and Drug Authority (FDA) issued new compliance standards and certification requirements for imported food production systems on November 29, 2024, with immediate effect from the date of publication.

The European Commission recently made a decision to terminate the marketing authorization of the fungicide amphenicone early. According to the decision, the use of this fungicide will be banned in the European Union from 15 January 2025.

Yara is the first company in Brazil to produce ammonia made from renewable biomethane and has already delivered the first low-carbon products to customers.

• Yara
• biomethane

Oman’s Sohar Port and Free Zone has begun construction of the world’s second largest polymer manufacturing plant, a $300 million project undertaken by Universal Fine Chemicals SPC covering an area of 240,000 square meters.

• Oman
• Polymer plant

FibreCoat, a German company based in Aachen that produces affordable high-performance materials, has raised nearly $20 million (about €18.98 million) in Series B funding.

• FibreCoat

Mumbai-based D2C beauty brand SugarCosmetics is raising INR 38 crore ($4.5 million) from existing investors including Anicut Equity Continuum Fund, Elevation Capital, Malabar Investments and L Catterton.

• SugarCosmetics

Equinor UK Ltd and Shell UK Ltd will combine their UK offshore oil and gas assets and expertise to form a new company that will be the largest independent producer in the UK North Sea.

• Equinor
• Shell

Japanese beauty brand Waphyto has launched at The Store X in Berlin. The herbal, botanical-based clean beauty brand will launch a curated selection of skin and hair products at the Soho House retail space in Berlin.

• Waphyto
• Store X

Koppers, a wholly owned subsidiary of Koppers Holdings, has announced that it will cease phthalic anhydride production at its Stickney, Illinois facility in 2025.

• Koppers

From November 25 to 30, 2024, the Codex Alimentarius Commission (CAC) held its 47th meeting, where it unanimously approved an important resolution to formally include Jagua blue in the list of food additives and established specific regulations for the us

On December 3, 2024, the Saudi Arabian Ministry of Health released two proposals aimed at establishing new food standards. The first proposal involves six food standards, including product standards for four items (smoked fish, salted fish, salad dressing

On December 4, 2024, the European Food Safety Authority (EFSA) officially issued a public consultation document numbered PC-1228, concerning a proposal for the authorization of microalgae extract oil as a new food product. Here’s an overview of the docume

Following Trump's pledge to raise tariffs on Chinese products, tensions between the U.S. and China have intensified. China has banned the export of key minerals such as gallium, germanium, and antimony to the U.S. and has tightened controls on graphite ex

Trump has threatened to impose tariffs on China, Mexico, and Canada, with an additional 10% tariff on China. This policy is not specifically aimed at China but is linked to certain events.

Mao Geping Cosmetics has passed its first listing hearing and hopes to raise about HK$2.3 billion in its IPO on the Hong Kong Stock Exchange.

• Mao Geping

Jiangsu Sailboat Petrochemical (Sailboat) started commercial operations of its new carbonate plant in Lianyungang, Jiangsu Province, China in November 2024.

• Sailboat

Waldner has broken ground on construction of a future new powder coating facility, scheduled to be operational in the fall of 2025. This is another step towards ultra-modern and sustainable production.

• Waldner

Flint Group has announced the opening of a new manufacturing facility in Savli, Vadodara, Gujarat, India.

• Flint group

On December 3, 2024, the Japanese Ministry of Health, Labour and Welfare published proposal number 235110010, aimed at revising the standards for food and food additives. The main revisions include: