BEIJING - A CHINESE man who bought 6.5 tonnes of salt, hoping to profit from panic buying spurred by fears of radiation from Japan, is now stuck with US$4,000 (S$5,041) worth of the condiment, state media reported on Friday.
The man, surnamed Guo, bought the salt in Wuhan, the capital of Hubei province, when rumours spread across China last week that the iodine in salt could help ward off radiation sickness, the China Daily reported on Friday.
Salt prices jumped on the rumours, and, acting on a tip that there would be a supply shortage lasting at least six months, Mr Guo bough 260 bags of salt, which he took back to his apartment in three trucks.
A few days later, the Chinese government urged consumers to stop the panic buying, saying residents will not be exposed to radiation from Japan's quake-damaged nuclear plant, causing a sharp drop in the price of salt. .
Mr Guo is now stuck with the salt, which the newspaper said takes up more than half his apartment and had cost him 27,000 yuan (S$5 189) to buy and transport.
The newspaper said Mr Guo can't resell the goods, because he has no receipt and also because he was told it was illegal to do so. He also can't take it to another province, as the government strictly controls salt transport. -- REUTERS
Source: ST Online
Friday, March 25, 2011
Friday, March 18, 2011
Tainted pork is latest food scandal to hit China
SHANGHAI — China has been hit by a fresh food scandal after the country's largest meat processor was forced to apologise when an illegal additive was reportedly found in some of its pork products.
Henan Shuanghui Investment and Development Co said it had halted operations at one of its subsidiaries while authorities investigate the case, in a statement to the Shenzhen Stock Exchange Wednesday, where it is listed.
In a separate statement dated Wednesday its parent Shuanghui Group expressed a "deep apology for the incident in the unit, which had troubled consumers".
The news follows the 2008 milk scandal in which a chemical was found to have been added to watered-down milk, leading to the deaths of several babies and left thousands sick.
Products marketed under Shuanghui Group's Shineway brand were produced from pigs that were fed clenbuterol, an additive that can speed up muscle building and fat burning to produce leaner pork, the reports said.
The additive, known among farmers as "lean meat powder", is banned in China because if eaten by humans it can lead to dizziness, heart palpitations and profuse sweating, the reports said.
The listed company said its shares were suspended Wednesday until official findings were released "to avoid major impact on the company's stock price".
"If it spreads to other producers, it will send shockwaves across the nation's meat industry, similar to the 2008 milk scandal," Zhao Yong, an industry analyst with Haitong Securities, told the Global Times newspaper on Thursday.
As supermarkets pulled Shineway products from their shelves, the China Meat Association tried play down the possibility that tainted pork was widespread.
"It's only an isolated case and was only found in one Shuanghui company. It won't bring destructive damage to either the industry or Shuanghui," the industry association's spokesman, He Zhonghua, told the Global Times.
China reported 18 outbreaks of food-related clenbuterol poisoning between 1998 and 2007, according to a report on the Shanghai Food Safety website. One person died and more than 1,700 others fell ill, the website said.
The latest batch of tainted pork products was first reported by state broadcaster China Central Television earlier this week.
China's dairy industry still has yet to fully recover from the loss of trust caused by the 2008 milk scandal where melamine, normally used to make plastics, was added to watered-down milk to make it seem higher in protein.
Twenty-two dairy producers were found to have sold products laced with melamine that killed at least six babies and left nearly 300,000 others ill.
Source: AFP
Henan Shuanghui Investment and Development Co said it had halted operations at one of its subsidiaries while authorities investigate the case, in a statement to the Shenzhen Stock Exchange Wednesday, where it is listed.
In a separate statement dated Wednesday its parent Shuanghui Group expressed a "deep apology for the incident in the unit, which had troubled consumers".
The news follows the 2008 milk scandal in which a chemical was found to have been added to watered-down milk, leading to the deaths of several babies and left thousands sick.
Products marketed under Shuanghui Group's Shineway brand were produced from pigs that were fed clenbuterol, an additive that can speed up muscle building and fat burning to produce leaner pork, the reports said.
The additive, known among farmers as "lean meat powder", is banned in China because if eaten by humans it can lead to dizziness, heart palpitations and profuse sweating, the reports said.
The listed company said its shares were suspended Wednesday until official findings were released "to avoid major impact on the company's stock price".
"If it spreads to other producers, it will send shockwaves across the nation's meat industry, similar to the 2008 milk scandal," Zhao Yong, an industry analyst with Haitong Securities, told the Global Times newspaper on Thursday.
As supermarkets pulled Shineway products from their shelves, the China Meat Association tried play down the possibility that tainted pork was widespread.
"It's only an isolated case and was only found in one Shuanghui company. It won't bring destructive damage to either the industry or Shuanghui," the industry association's spokesman, He Zhonghua, told the Global Times.
China reported 18 outbreaks of food-related clenbuterol poisoning between 1998 and 2007, according to a report on the Shanghai Food Safety website. One person died and more than 1,700 others fell ill, the website said.
The latest batch of tainted pork products was first reported by state broadcaster China Central Television earlier this week.
China's dairy industry still has yet to fully recover from the loss of trust caused by the 2008 milk scandal where melamine, normally used to make plastics, was added to watered-down milk to make it seem higher in protein.
Twenty-two dairy producers were found to have sold products laced with melamine that killed at least six babies and left nearly 300,000 others ill.
Source: AFP
Friday, March 11, 2011
Sperm donation most popular job among Chinese students
STUDENT sperm donation has drawn controversy in China and debate has been raised as to whether it is moral to do so.
College students make up about 90 per cent of sperm donors in China, Chinese news reports said on Thursday. An official at a sperm bank in Guangdong, southern part of the South China Sea, said that about 2,000 students donated sperm last year, making up 95 per cent of all donors.
'It is hard to expect healthy sperm from stressed-out office workers. College students fulfill the qualification of sperm donors, which is young and healthy,' said the official.
For this reason, sperm banks prefer young and healthy college students and the number of students willing to donate sperm is on the rise.
Sperm donors can earn about 3,000-4,000 yuan ($580 to $773). This is a relatively large amount of money for college students, and more than Chinese farmers can make a month. The Guangdong sperm bank selects donors through medical checkups. Those who pass the medical test get paid 300 yuan for each donation. Usually, a person donates 10 samples, receiving about 3,000 yuan.
'It is hard to make more than 1,000 yuan even if you work intensely all day, but if you donate your sperm, you can get a large sum of money easily,' said one student who has donated. Another student said it was a meaningful job since it helped reproductively challenged families. -- KOREA HERALD/ANN
source: ST online
College students make up about 90 per cent of sperm donors in China, Chinese news reports said on Thursday. An official at a sperm bank in Guangdong, southern part of the South China Sea, said that about 2,000 students donated sperm last year, making up 95 per cent of all donors.
'It is hard to expect healthy sperm from stressed-out office workers. College students fulfill the qualification of sperm donors, which is young and healthy,' said the official.
For this reason, sperm banks prefer young and healthy college students and the number of students willing to donate sperm is on the rise.
Sperm donors can earn about 3,000-4,000 yuan ($580 to $773). This is a relatively large amount of money for college students, and more than Chinese farmers can make a month. The Guangdong sperm bank selects donors through medical checkups. Those who pass the medical test get paid 300 yuan for each donation. Usually, a person donates 10 samples, receiving about 3,000 yuan.
'It is hard to make more than 1,000 yuan even if you work intensely all day, but if you donate your sperm, you can get a large sum of money easily,' said one student who has donated. Another student said it was a meaningful job since it helped reproductively challenged families. -- KOREA HERALD/ANN
source: ST online
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