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Wednesday's Rotterdam vegetable oil prices at 1600 GMT.

US soyabean futures rallied for the third day in a row on Wednesday to hit a nine-month high, drawing strength from data released earlier in the week that showed appetite for the oilseed remained strong at domestic crushers, traders said. The recent gains also spurred some technical buying and renewed interest from investment funds seeking to boost their positions in a market that has gained 3.6 percent this week.
Malaysian palm oil futures extended gains to hit their highest in three weeks on Wednesday after better-than-expected economic data from China soothed fears about slowing demand from the world's second-largest consumer of the tropical oil. China's economy grew an annual 7.4 percent in the first quarter, slower than the 7.7 percent pace in the previous three months but ahead of market expectations of 7.3 percent.
Hard red winter wheat spot basis bids in the US Plains were unchanged on Tuesday, dealers said. Light snow fell across parts of Kansas on Monday and temperatures dipped below freezing early Tuesday morning in the Plains. And the National Weather Service warned of freezing conditions for Tuesday across wheat-growing areas in western Oklahoma and parts of northern Texas. Winter wheat becomes more vulnerable to freeze damage as it matures in the spring.
European wheat prices edged lower on Wednesday after reaching their highest levels in over a year the previous day because of tensions in Ukraine and concerns about frost in US wheat belts. Prospective buyers were resisting price rises, and some traders were cashing in profits after the Paris market rose sharply just before the close late on Tuesday, dealers said.
US soyabean futures rose 1.7 percent on Tuesday on signs that domestic processors kept their plants running at high levels even as supplies dwindled, traders said. Wheat futures gained 3.4 percent, surging through the $7-a-bushel level, on fears that escalating political tensions in Ukraine would disrupt shipments of the grain from the key exporter.
Indian guar seed futures ended down on Wednesday on profit-taking after rallying on reports of dwindling global stocks, and are likely to open lower in the next session. Traders said guar futures will trade higher as export demand is still alive though the upside would be limited due to ample stocks in spot markets. The May contract on the National Commodity and Derivatives Exchange ended down 1.0 percent at 4,865 rupees ($80.76) per 100 kg.
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Annual2012/13
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Per Cap Income $1,368
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