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Tag: commodities

  • Jefferies-Linked Fund Seeks Singapore Injunction Against Radiant World

    Jefferies-Linked Fund Seeks Singapore Injunction Against Radiant World

    LAM Trade Finance Group II applied for a freezing injunction against iron ore trader Radiant World and founder Pinkesh Nahar in Singapore on Sept 7, court records show.

    The filing in the Supreme Court escalates legal pressure on the trading house. Commercial banks have frozen accounts, and trading partners cut ties over questioned invoices.

    Court Filings and Named Entities

    Court documents name Radiant World entities alongside Nahar, as well as iron ore trading firm Sapphire Minmetals and its chairman Rakesh Sethi. LAM Trade Finance Group II filed the application ahead of a Sept 9 hearing. US investment bank Jefferies holds a minority stake in the fund.

    British judges granted the fund a separate freezing order against Radiant World a week earlier. Radiant World denies all allegations of wrongdoing. Representatives for the named firms and executives did not respond to requests for comment.

    Trade Finance Exposure and Market Fallout

    Legal actions across London and Singapore show how fast credit lines vanish when financiers question collateral documents. A freezing order in Singapore stops an operator from moving capital through Southeast Asia’s primary financing hub. Commodity desks across the region are tracking the case.

    Lenders are moving to ring-fence recovery positions rather than waiting for formal restructuring. Trade finance specialist Incomlend is pursuing separate litigation against Radiant World and Nahar in Singapore. Meanwhile, Japan’s Mizuho Bank took legal steps to oust the management of Radiant World’s local operating entity.

    Police Raids and Cross-Company Ties

    Troubles for the trader widened in August 2026, when the Singapore Police Force opened an investigation into Radiant World following official reports on its operations. Glencore chief executive Gary Nagle said that month that the mining giant treated Radiant World and Sapphire Minmetals as parts of a single group. Sethi disputes that claim.

    Singapore’s Supreme Court will hear the freezing injunction application from LAM Trade Finance Group II on Sept 9.

  • Vietnam Gold Prices Edge up as Domestic Premium Holds at VND6.8 Million

    Vietnam Gold Prices Edge up as Domestic Premium Holds at VND6.8 Million

    Domestic gold prices in Vietnam climbed on Friday morning, led by Saigon Jewelry Company lifting bullion bars 0.13 percent to VND148.6 million ($5,697.31) per tael.

    Plain gold rings gained 0.14 percent to VND148.1 million per tael. A standard Vietnamese tael equals 37.5 grams, or approximately 1.2 ounces.

    Domestic Spread and Annual Movement

    Despite the morning uptick, Saigon Jewelry Company bars remain down 0.07 percent from the start of the week. Since the beginning of the year, domestic gold prices have dropped 2.75 percent across Vietnamese trading desks.

    Retail buyers in Vietnam continue to pay a hefty premium for physical inventory. Local bars traded at roughly VND6.8 million per tael above prevailing international spot benchmarks on Friday.

    The price gap reflects sustained domestic preference for physical store-of-value assets, keeping retail jewelry and bullion counters priced well above import parity even during quieter trading weeks.

    International Pressures and Rate Outlook

    Overseas bullion traded flat on Friday after a volatile run earlier in the week. Spot gold held steady at $4,468.27 per ounce after gaining 2 percent during Thursday trading, while US gold futures for December delivery dropped 0.6 percent to $4,514.60.

    Global market participants have focused their attention on upcoming US employment figures for indications on interest rate policy. Ross Maxwell, global strategy operations lead at VT Markets, noted that central bank accumulation continues to underpin physical demand and limit broader downside across the sector.

    Market participants and domestic retail bullion traders now watch upcoming inflation data releases scheduled for next week to set the near-term direction for spot pricing.

  • Global Food Price Index Hits Nearly Four-Year High on Sugar Surge

    Global Food Price Index Hits Nearly Four-Year High on Sugar Surge

    Global food commodity prices rose 1.9 per cent in August as the United Nations Food and Agriculture Organization price index reached 133.3 points, its highest level since November 2022.

    The increase leaves the benchmark 2.5 per cent higher than a year earlier, driven by broad gains across sugar, cereals, dairy, meat and vegetable oils.

    Sugar registered the steepest climb across the index, jumping 11.9 per cent month on month to 106.4 points. Lower expected sugarbeet yields in the European Union, production declines in Brazil, and weather concerns tied to El Niño in major Asian producers squeezed supply outlooks. India compounded the pressure by announcing duty-free raw sugar imports to shore up domestic availability.

    “August’s increase in global food prices is a warning that the risk premium is returning to food markets,” said Maximo Torero, chief economist at the FAO. Torero pointed to climate shocks, geopolitical tensions and trade logistics bottlenecks as factors tightening supply expectations.

    Grains and Oils Add Cost Pressure

    Cereal prices averaged 116.3 points in August, up 2.2 per cent from July to reach their highest reading since May 2024. Quotations rose for wheat, maize and rice, driven by strong buying interest, adverse weather across several production belts, and shipping disruptions from Black Sea ports in Ukraine.

    Vegetable oils rose 0.6 per cent to 196.9 points. Firm global import demand lifted palm and soy oil values, while dry conditions linked to El Niño threatened plantation yields in Southeast Asia. Rapeseed and sunflower oils softened slightly on expectations of steady harvest volumes.

    Dairy prices advanced 2.3 per cent to 119.2 points because of lower raw milk collections in Europe. Meat edged up 1 per cent to 127.9 points as hot weather slowed pig growth across European farms, though bovine meat prices dipped after Chinese import quotas intensified price competition between Brazilian and Australian cattle exporters.

    Margin Squeeze for Asian Food Retailers

    For packaged goods manufacturers and supermarket operators across Asia, the August index reading signals renewed margin pressure on pantry staples. Food retailers in import-dependent hubs had spent much of the past year managing lower inventory carrying costs, but rising raw input prices for sugar, wheat and cooking oils will force pricing reviews before the fourth-quarter holiday buying cycle.

    Passing higher wholesale costs directly to consumers remains difficult in markets where household budgets are already stretched by utility and transport expenses. Retailers face a choice between absorbing lower gross margins on staple categories or relying on smaller pack sizes and promotional discounts to preserve transaction volumes.

    Supply Outlook for Regional Sourcing

    The August figure sits 16.8 per cent below the all-time high recorded in March 2022, when the outbreak of war in Ukraine disrupted agricultural trade. The latest rally shows that structural supply risks remain sensitive to localized weather and trade restrictions.

    Procurement teams are now monitoring regional harvest numbers closely after the agency cut its 2026 global cereal production forecast by 2 per cent to 2.98 billion tonnes, a harvest that would still rank as the second-largest on record.

  • Asian Markets Gain as JGB Yields Slide Ahead of US Jobs Data

    Asian Markets Gain as JGB Yields Slide Ahead of US Jobs Data

    Asian stocks and government bonds climbed on Thursday as investors recalibrated interest rate expectations ahead of crucial United States labour data.

    MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5 per cent, tracking modest overnight gains on Wall Street as benchmark sovereign borrowing costs pulled back across major economies.

    Japanese government bonds led the fixed-income recovery ahead of a Ministry of Finance auction of super-long debt. The yield on 30-year Japanese government bonds dropped 10 basis points to 4.065 per cent, retreating from near-record highs, while benchmark 10-year US Treasury yields dipped 0.99 basis point to 4.784 per cent.

    Bond Yields Ease Across the Region

    Relief across regional debt markets followed remarks from Federal Reserve Bank of New York President John Williams, who noted that elevated long-term yields reflect economic resilience while policymakers assess upcoming data. Traders using the CME Group FedWatch tool now price a roughly two-in-three probability of a 25-basis-point rate increase this month, up from 37 per cent a week earlier.

    Economic data from Tokyo offered fresh evidence of domestic momentum. Japan’s services sector expanded in August at its fastest pace in five months, supporting expectations that the Bank of Japan retains room to raise borrowing costs further.

    For retailers and consumer operators across Asia, the pause in yield expansion offers short-term relief on commercial debt and capital expenditure plans. Persistent rate differentials and elevated debt costs have weighed on cross-border expansion financing throughout the region this quarter.

    Currency and Commodity Shifts

    Currency trading remained steady, with the dollar index slipping 0.05 per cent to 99.54. The Japanese yen held its ground at 158.59 per dollar after surging 0.9 per cent in the prior session, while the euro edged up to $1.1589.

    Energy markets softened slightly despite geopolitical friction between the United States and Iran. Brent crude fell 0.44 per cent to $95.21 a barrel and US crude dropped 0.3 per cent to $90.74 a barrel, while spot gold gained 0.32 per cent to trade at $4,400.47 an ounce.

    Market attention turns next to Friday’s US nonfarm payrolls report and an upcoming address by Federal Reserve Governor Christopher Waller.

  • Indonesia Consumer Inflation Climbs to 3.19% in August

    Indonesia Consumer Inflation Climbs to 3.19% in August

    Indonesia’s headline inflation jumped to 3.19 per cent year on year in August 2026, driven by rising grocery bills, gold jewelry costs and higher transport fares.

    The increase from 2.28 per cent in July lifted the national consumer price index to 111.97 from 108.51 a year earlier, according to the Central Statistics Agency (BPS). The headline print remains inside Bank Indonesia’s target corridor of 2.5 per cent plus or minus one percentage point.

    Food and Personal Care Drive Basket Costs

    Food, beverages and tobacco delivered the heaviest punch to household budgets, climbing 3.86 per cent and adding 1.13 percentage points to the headline number. Broiler chicken, fresh fish, cooking oil and rice led the increases alongside bird’s eye chili, beef and cigarettes. Volatile food prices alone advanced 4.06 per cent over the twelve months.

    Personal care and other services recorded the steepest category increase at 9.25 per cent, contributing 0.63 percentage points. High retail demand and elevated prices for gold jewelry accounted for most of that category gain.

    Transportation expenses climbed 4.79 per cent from August 2025, adding 0.58 percentage points to headline inflation. BPS Deputy for Distribution and Services Statistics Ateng Hartono said higher gasoline prices, costlier airfares, vehicle lubricants, and rising prices for cars and motorcycles drove the transport index up.

    Core Price Pressures Across Provinces

    Core inflation, which strips out volatile food and government-regulated tariffs, stood at 2.92 per cent year on year. It contributed 1.87 percentage points to the overall index, buoyed by gold jewelry, prepared rice meals, cooking oil, mobile phones and laptops. Government-administered prices rose 3.32 per cent on higher household fuel and air travel costs.

    All 38 Indonesian provinces recorded annual price increases during the month. North Maluku logged the country’s highest regional inflation at 5.28 per cent, while North Kalimantan posted the lowest reading at 2.17 per cent.

    For consumer brands and supermarket operators, the sharp uptick in poultry and staple grain prices tests grocery basket sizes after a period of quiet monthly deflation in July. Packaged food manufacturers face immediate margin pressure across basic cooking ingredients, while discretionary retailers must contend with higher transport outlays eating into urban household disposable income.

    Bank Indonesia next reviews its benchmark policy rate later this month, with policymakers balancing rupiah stability against the latest pickup in core consumer prices.

  • Robusta Coffee Climate Resilience Is a Flawed Myth, Study Warns

    Robusta Coffee Climate Resilience Is a Flawed Myth, Study Warns

    A new research study has challenged the widely held assumption that robusta coffee will withstand global warming better than arabica varieties. The crop suffers from severe drought intolerance, undermining its reputation as a climate-resilient alternative for global beverage supply chains.

    Tens of millions of bags of robusta reach international markets every year, with the bulk originating from farms in Vietnam and Brazil. Beverage brands and roasters have increasingly relied on the bean as rising temperatures squeeze traditional arabica harvests across Latin America and Africa.

    Flawed Assumptions on Crop Tolerance

    Researchers found that prior assessments overlooked how sensitive robusta plants are to water shortages during key growing cycles. The lead author described claims of broad climate resilience as an internet myth built on incomplete data.

    “Robusta is more heat-tolerant than arabica, but it’s drought-intolerant,” the study noted. While the variety can endure higher ambient temperatures, dry spells drastically cut yields, leaving commercial growers exposed to sudden harvest declines.

    Pressure on Asian Beverage Supply Chains

    For Southeast Asian agricultural hubs and instant-coffee processors, the findings point to growing volatility in raw bean procurement. Vietnam supplies the vast majority of global robusta exports, meaning prolonged dry weather in the Central Highlands directly disrupts margins for consumer packaged goods groups and cafe operators across Asia.

    Food and beverage manufacturers now face higher hedging costs and the need for heavier capital investment in farm irrigation systems to secure future robusta volumes.

  • Vietnam Gold Prices Drop to Lowest Level Since July

    Vietnam Gold Prices Drop to Lowest Level Since July

    Gold prices in Vietnam dropped on Saturday morning to their lowest level since July 22, tracking an overnight tumble in global bullion markets.

    Saigon Jewelry Company gold bars declined 1% to VND148.7 million ($5,700.59) per tael, which equates to 37.5 grams. Gold rings slipped 0.99% to VND149.7 million per tael, bringing the total decline for domestic gold to 2.68% so far this year.

    Global Bullion Tumbles on Rate Bets

    The domestic retreat tracked sharp losses across international trading desks. Spot gold fell 2.9% to $4,567.23 per ounce on Friday, marking its lowest reading since August 20. U.S. Gold futures for December delivery settled down 2.9% at $4,529.9 per ounce.

    Traders liquidated positions after Federal Reserve Chairman Kevin Warsh indicated that inflationary pressure remains persistent. The comments prompted markets to price in higher odds of monetary tightening rather than immediate policy relief.

    Domestic Retail Demand Reacts

    The drop reversed an earlier weekly rally that lifted global prices to a high of $4,696.18 on Tuesday. Gold ended the week down 2.9% overall.

    In Vietnam, physical gold remains a primary retail savings vehicle and an inflation hedge. When global spot prices swing rapidly, domestic jewellery retailers adjust their buy and sell spreads within hours to protect inventory margins.

    Market participants now shift their attention to the upcoming Federal Reserve policy meeting in September to gauge whether physical bullion demand in Asia will face further currency and interest rate headwinds.

  • Vietnam Gold Prices Hit Seven-Week High as SJC Bars Reach VND150.6 Million

    Vietnam Gold Prices Hit Seven-Week High as SJC Bars Reach VND150.6 Million

    Gold prices across Vietnam climbed Tuesday morning to their highest level since July 6. The rebound began nearly a week ago. Saigon Jewelry Company lifted its gold bar price by 0.40 per cent to VND150.6 million ($5,757.21) per tael.

    A tael equals 37.5 grams or roughly 1.2 ounces. Plain gold rings climbed faster than bars. Ring prices rose 1.31 per cent to VND155 million per tael across retail counters. Even with the week-long rally, domestic bullion prices remain down 1.4 per cent since the start of the year.

    Retail Premiums Widen on Ring Demand

    The faster rise in ring prices pushed standard jewellery to an unusual premium over SJC-branded bars. Buyers across Ho Chi Minh City and Hanoi continue to purchase physical gold rings as a store of value. Retail counters stay active whenever global benchmarks climb.

    Bullion serves Vietnamese households as an everyday savings tool and an alternative asset. When prices swing, jewellery chains see immediate shifts in store footfall as shoppers rotate cash into metal.

    Global Benchmarks Clear Technical Resistance

    Kitco data showed international spot gold added 0.04 per cent to $4,653.70 per ounce on Tuesday. That followed a combined jump of 2.91 per cent over the previous two trading sessions.

    Overseas bullion cleared several technical resistance levels last week. The metal gained ground even as the US dollar firmed modestly. Safe-haven buying held steady, driven by shifting expectations for American fiscal and monetary policy.

    Traders in Hanoi and Ho Chi Minh City are watching whether international spot gold holds above the $4,650 threshold. That level will determine if local prices can erase the remaining 1.4 per cent deficit from early-year marks.

  • Taiwan Fuel Retailers Freeze Pump Prices for Fourth Week as Currency Offsets Crude

    Taiwan Fuel Retailers Freeze Pump Prices for Fourth Week as Currency Offsets Crude

    CPC Corp and Formosa Petrochemical held Taiwan retail fuel prices steady this week, freezing forecourt rates for a fourth consecutive week despite crude topping US$93 a barrel. The decision leaves domestic transport costs stable across thousands of service stations as logistics networks enter the late-summer freight cycle.

    Retail unleaded gasoline remains at NT$30.5 per liter for 92-octane, NT$32 for 95-octane, and NT$34 for 98-octane at both retail chains. Premium diesel holds at NT$29.3 per liter at state-run CPC stations and NT$29.1 per liter at Formosa pumps.

    Crude Spike Versus Currency Gains

    International crude rallied last week after geopolitical friction between the United States and Iran threatened oil supplies. CPC calculates weekly domestic price adjustments through a floating formula weighted 70 percent to Dubai crude and 30 percent to Brent.

    Under that formula, Taiwan’s baseline import crude basket averaged US$93.01 per barrel last week, up from US$89.84 the week before. Foreign exchange movements absorbed the shock. The New Taiwan dollar appreciated to an average of NT$31.901 against the greenback from NT$32.194 a week earlier, cutting the landed cost of dollar-denominated crude deliveries.

    Pump Rates at the Forecourt

    Price stability at the pump shields commercial delivery fleets and consumers from short-term commodity spikes. Fuel distributors across Southeast and East Asia have faced margin compression over the past two quarters as crude volatility tests state-managed pricing mechanisms and retail price caps.

    Both refiners will review their pricing formula at the close of trading on Friday, with market attention focused on whether the US$93 crude threshold forces an adjustment in next week’s retail slate.

  • Eastern Indonesia’s economy propelled by commodities pickup

    Eastern Indonesia’s economy propelled by commodities pickup

    Provinces in the eastern part of Indonesia are seeing robust economic growth in the third quarter thanks to higher commodity prices, but without diversification away from commodities the regions may not sustain such rapid growth, economists say.

    While the nation’s overall economic growth was 5.02 percent in the July to September period yearon-year (yoy), provinces in eastern Indonesia saw higher growth, namely Maluku and Papua with 13.72 percent, Sulawesi with 6.67 percent and Bali and Nusa Tenggara, both with 5.04 percent, according to data from the Central Statistics Agency (BPS).

    President Joko “Jokowi” Widodo said he wants to spread economic contributions from the eastern part of Indonesia to the whole archipelago and pledged to boost infrastructure development in the regions.

    However, economists said the government’s efforts to build infrastructure on the outskirts of the country had yet to bear fruit as they required more time before affecting the local economies. Instead, the rising prices of mining commodities have become the main reason for the spike in growth in eastern parts.

    “Improvements in commodity prices, such as gold in Papua, caused the jumping growth,” University of Indonesia (UI) economist Lana Soelistianingsih said on Monday following the data release.

    The BPS data also showed that the overall growth of the nation’s mining sector reversed its minus 0.72 percent yoy contraction in the second quarter to become a 0.13 percent gain in the third quarter, thanks to the higher production of some mining commodities like gold, BPS head Suhariyanto said.

    The eastern part of Indonesia still relies heavily on the mining sector so that most provinces, such as Papua, Maluku, Central Sulawesi and several areas in Kalimantan, see their economic growth spike when prices and production increase, said Center for Reform in Economics (CORE) research director Mohammad Faisal.

    “Other areas, like South Sulawesi, recorded growth because of their diversified economies,” he said. “Bali, on the other hand, is supported by its tourism sector so that when the overall economy slows down, it is still able to post growth.”

    With the projected stable increase in commodity prices going forward, economists expressed optimism that economic growth in the area can be improved, although concerns over its sustainability remain.

    “The growth will be sustainable if those provinces can transform and diversify their economies. If they’re still commodity dependent, the growth won’t sustain,” Faisal said.

    Apart from the mining sector’s reversal of fortune, the top three sectors that booked the highest growth in the third quarter include information and communications, financial services and transportation and warehousing, according to BPS data.

    In quarter-on-quarter, transportation and warehousing, agriculture, forestry and fisheries, as well as the construction sector, were at the top of the list.

    In West Nusa Tenggara and Maluku, the regions that posted the most growth in the third quarter, the marine industry is enjoying growth, especially in the shrimp and seaweed aquaculture industries, according to the Indonesian Chamber of Commerce and Industry (Kadin). Bengkulu, Lampung and Java are also seeing growth in the same sector.