Business
Hybrid oilseed spreads fragrance across Pakistan | The Express Tribune
WUHAN:
With the switch on, the rapeseed spun rapidly in the press. Soon, a strong aroma filled the air. Watching the bright golden oil flow into a barrel, Pakistani farmers all smiled with satisfaction.
Sayima Rizwan, a housewife from Gujranwala, praised the edible oil made from Chinese seed. “Now my family can’t live without it. With a reasonable price, this oil makes my dishes more fragrant.”
Wuhan Qingfa Hesheng Seed Co Ltd and Evyol Group, a Pakistani agricultural enterprise, recently signed a memorandum of understanding (MoU) on cooperation in rapeseed industrialisation. The two parties will further develop a comprehensive seed industry chain in Pakistan.
As one of the earliest Chinese seed companies to expand internationally, Qingfa Hesheng has been deeply engaged in the Pakistani market for 21 years. They discovered that Pakistan, a major consumer of edible oil, has an annual demand for 5 million tons, of which 89% is imported and the annual cost is about $4 billion, resulting in an extremely low self-sufficiency rate.
“HC-021C, our low erucic acid and low glucosinolate hybrid rapeseed variety, boasts an oil content exceeding 42% and an unsaturated fatty acid content exceeding 76%. Compared to local varieties, this represents an 8% increase in yield and a 6-8% increase in oil content,” said Zhou Xusheng, Director of Overseas Business at Qingfa Hesheng.
“Low erucic acid means it’s more in line with modern healthy dietary needs. At the same time, the rapeseed meal byproduct after extraction has low glucosinolate content and higher-quality feed, improving the overall benefits of local animal husbandry.”
In recent years, Qingfa Hesheng has adopted an order-based production cooperation model to promote the planting of HC-021C on approximately 100,000 hectares in the South Asian country, harvesting 250,000 tons of high-quality seed, equivalent to around 95,000 tons of edible oil, with a value of $220 million.
“As Pakistan’s largest hybrid variety, HC-021C is expected to be promoted on an area of about 66,667 hectares in 2025-26,” Zhou Zhanwang said.
“Our partnership with the Chinese company ensures a stable supply of high-quality seed, which not only significantly reduces raw material and logistics costs, but also effectively increases the added value of end-products. We’re going to undoubtedly plan to further expand our procurement scale in the future,” said Bashir, General Manager of a Pakistani cooperative enterprise.
This article originally appeared on China Economic Net
Former Asda boss Roger Burnley is to join the board of Marks & Spencer.
He will become a non-executive director of the high street giant from December 1, the company told shareholders on Thursday.
The retail veteran was the boss of rival Asda from 2017 until 2021, when he left the business following its £6.8 billion takeover by the Issa brothers and TDR Capital.
He was retail operations director at Sainsbury’s before moving to Asda and is currently a non-executive director at Pets at Home.
Mr Burnley will become the latest supermarket heavyweight to join the business, after former Sainsbury’s boss Justin King stepped down earlier this year.
Mr King left the board in September after around six years.
The appointment comes after a turbulent year for Marks & Spencer after it was hit by a major cyber attack which forced it to shut down online sales for around six weeks.
It said the attack has cost the company around £300 million.
Mr Burnley said: “M&S is a much-loved brand which I have always admired as setting the standard in UK retail, and it is a privilege to be joining such an engaged board.
“Much progress has been made through the reshaping for growth strategy, but there remains so much opportunity, and I am looking forward to supporting the leadership team to capitalise on that in the years ahead.”
M&S chairman Archie Norman said: “Roger brings extensive experience in the food retail industry and supply chain transformation which will be invaluable as we enter the next phase of our plan to reshape M&S for growth.
Seoul: South Korean automakers Hyundai Motor Co. and Kia Corp. are ramping up efforts to expand their presence in Japan with new hydrogen and electric vehicles (EVs), as per a report by Pulse, the English service of Maeil Business News Korea. At the Japan Mobility Show in Tokyo, which kicks off on Thursday, Hyundai Motor and Kia are expected to make their first joint appearance, targeting a market traditionally dominated by domestic automakers and internal combustion engine vehicles.
The report stated that before the event on Wednesday, Hyundai premiered The All-New NEXO, its latest hydrogen fuel cell electric SUV, while Kia debuted its PV5 purpose-built electric van.
“The All-New NEXO, which rivals the Toyota Mirai, is powered by a 150kW motor. It accelerates from zero to 100 km/h in 7.8 seconds, and offers a driving range of up to 720 km. Refueling takes about five minutes. Local sales are set to begin in the first half of next year. Kia also showcased its INSTER, known in Korea as the Casper Electric, and KONA Electric. The automaker said it plans to enter Japan’s electric van market next year with the PV5. The company expects rising demand as Japan aims to have 30 per cent of new car sales be electric by 2030,” the release said.
The automaker has partnered with Japan’s trading firm Sojitz Corp. to establish Kia PBV Japan, a joint venture focused on electric commercial vehicles.
Japan’s auto market remains dominated by domestic brands, led by Toyota, which controls nearly 90 per cent of the entire sales. Hyundai Motor re-entered Japan in 2022 after a 13-year absence.
“We will tailor our approach specifically for Japan,” said the report, quoted Hyundai Vice President Chung Yoo-suk. “In the compact car segment, we achieved our business plan for the first time this year since re-entering the market, and plan to continue introducing new models from next year.”
The Government is being urged to go “further and faster” to protect the car industry from energy costs.
The TUC said high energy bills in the UK meant car makers were struggling in the face of competition from abroad.
On a visit to the Jaguar Land Rover factory in Solihull, the TUC general secretary Paul Nowak called on the Government to put its “foot on the accelerator” and speed up support for the UK car industry.
He said: “Car making is one of the jewels in the crown of British industry, and British classics like Range Rover and Jaguar are iconic around the world.
“But sky-high energy costs mean we risk losing out to competition from abroad.
“The Government has set out welcome support in the industrial strategy, but must go further and faster to bring down energy bills for British businesses.
“It’s time for the Government to put its foot on the accelerator, and act now to protect jobs and manufacturing in the UK.”
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