Market Chatter: China Intensifies Probe on Companies Using Fuel Tankers to Deliver Edible Oils

MT Newswires Live07-11

The Chinese government will deepen its probe into food firms following a media report claiming some companies are using fuel tankers to transport edible oils, Yicai Global reported Wednesday.

Officials probed into a vegetable oil delivery at food giant COFCO Group's grain and oil affiliate in Dongguan, China, the report said, citing COFCO.

One of the oil tankers mentioned in the media report filled up with vegetable oil in Dongguan on June 1 and arrived at a factory of Yihai Kerry Arawana Holdings (SHE:300999) in Shaanxi to deliver the oil three days later, the report said, citing public information. The COFCO affiliate allegedly used the same tanker for transporting kerosene and edible oils, leading to contamination, the report said.

Some other companies do not clean the tanks in between deliveries to cut costs, the report said, citing the media exposÃ©.

Yihai Kerry and other companies mentioned in the report said they strictly comply to safety regulations, while two others launched "large-scale internal probes," Yicai reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2450800796?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-07-11 13:53","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2450800796","market":"hk","top_or_hot":-1,"title":"Market Chatter: China Intensifies Probe on Companies Using Fuel Tankers to Deliver Edible Oils","media":"MT Newswires Live","content":"<html><body><p> The Chinese government will deepen its probe into food firms following a media report claiming some companies are using fuel tankers to transport edible oils, Yicai Global reported Wednesday.</p><p>Officials probed into a vegetable oil delivery at food giant COFCO Group's grain and oil affiliate in Dongguan, China, the report said, citing COFCO.</p><p>One of the oil tankers mentioned in the media report filled up with vegetable oil in Dongguan on June 1 and arrived at a factory of Yihai Kerry Arawana Holdings (SHE:300999) in Shaanxi to deliver the oil three days later, the report said, citing public information. The COFCO affiliate allegedly used the same tanker for transporting kerosene and edible oils, leading to contamination, the report said.</p><p>Some other companies do not clean the tanks in between deliveries to cut costs, the report said, citing the media exposÃ©.</p><p>Yihai Kerry and other companies mentioned in the report said they strictly comply to safety regulations, while two others launched \"large-scale internal probes,\" Yicai reported.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Market Chatter: China Intensifies Probe on Companies Using Fuel Tankers to Deliver Edible Oils</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarket Chatter: China Intensifies Probe on Companies Using Fuel Tankers to Deliver Edible Oils\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-11 13:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Chinese government will deepen its probe into food firms following a media report claiming some companies are using fuel tankers to transport edible oils, Yicai Global reported Wednesday.Officials...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"300999","symbol_name":"金龙鱼","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2450800796","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2450800796","pubTimestamp":1720677239,"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"The Chinese government will deepen its probe into food firms following a media report claiming some companies are using fuel tankers to transport edible oils, Yicai Global reported Wednesday.Officials","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"300999":"金龙鱼","BK0238":"农副食品"},"translate_title":"市场热议：中国加大对使用油罐车运送食用油企业的调查力度","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"300999":0.9},"content_text":"The Chinese government will deepen its probe into food firms following a media report claiming some companies are using fuel tankers to transport edible oils, Yicai Global reported Wednesday.Officials probed into a vegetable oil delivery at food giant COFCO Group's grain and oil affiliate in Dongguan, China, the report said, citing COFCO.One of the oil tankers mentioned in the media report filled up with vegetable oil in Dongguan on June 1 and arrived at a factory of Yihai Kerry Arawana Holdings (SHE:300999) in Shaanxi to deliver the oil three days later, the report said, citing public information. The COFCO affiliate allegedly used the same tanker for transporting kerosene and edible oils, leading to contamination, the report said.Some other companies do not clean the tanks in between deliveries to cut costs, the report said, citing the media exposÃ©.Yihai Kerry and other companies mentioned in the report said they strictly comply to safety regulations, while two others launched \"large-scale internal probes,\" Yicai reported.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2450800796"}