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Palm falls on profit-taking, but posts biggest weekly gain in seven KUALA LUMPUR: Malaysian palm oil futures edged lower in thin trade on Friday, as investors continued to book profits from big gains earlier this week, with weakness in overseas soy markets and a firm ringgit also dragging.Benchmark prices however notched a 0.8 percent gain this week, their biggest rise since early March, lifted by anticipation of a recovery in food and fuel demand for the tropical oil."Today there's a continuation of yesterday's profit-taking but without any serious volume involved," said a trader with a foreign commodities brokerage."Given that the external market is weakening and our ringgit is strengthening slightly, most likely the palm market will continue its correction to test 2,600 ringgit."By Friday's close, the benchmark July contract on the Bursa Malaysia Derivatives Exchange had edged down 0.5 percent to 2,635 ringgit ($814) per tonne, with prices locked between 2,623-2,653 ringgit.Total traded volumes were thin at 18,509 lots of 25 ...


Russia MOSCOW: Russia's gold reserves remained unchanged at 33.5 million troy ounces in March, the central bank said on its website on Friday.The value of its holdings fell to $43.36 billion as of April 1 compared with $44.6 billion a month earlier, it added. Copyright Reuters, 2014

India's Oct 1-April 15 sugar output down 4pc y/y MUMBAI: Indian mills produced 23.15 million tonnes of sugar between Oct. 1 and April 15, down 4 percent from a year earlier, a producers' body said. Indian mills had produced 1.54 million tonnes raw sugar by the end of March and of that 850,000 tonnes was exported, the Indian Sugar Mills Association (ISMA) said in a statement on Thursday. In March alone, mills shipped 350,000 tonnes of raw sugar and they are likely to benefit ...

Indonesian steel imports could increase on power subsidy cut JAKARTA: Indonesia's plan to axe electricity subsidies for industrial users this year could increase the country's steel imports, an industry body said, warning that bigger iron smelters could close their operations before paying a 64 percent hike in rates.The staged increases to industrial power tariffs due to commence in May and continue until the end of the year are among government reforms to alleviate some of the roughly 280 trillion rupiah ($24 billion) Southeast Asia's ...

China's average daily steel output rises in early April SHANGHAI: China's average daily crude steel output rose 3.8 percent in the first ten days of April from the previous 11-day period, China Iron & Steel Association data showed on Thursday.Daily output stood at 2.152 million tonnes for April 1-10, up from 2.073 million tonnes logged over March 21-31, according to the CISA data.CISA estimated the country's total production based on its key members, including more than 80 large steel groups that account for about ...

NY cocoa to retest support at $2,964 SINGAPORE: New York July cocoa is expected to retest a support at $2,964 per tonne, with a good chance of breaking below this level and falling further to $2,950. The support is provided by the 76.4 percent Fibonacci projection level of a downward wave (c), which is capable of travelling to $2,950, its 100 percent projection level. This wave is a part of a bigger wave C, the third wave of a three-wave cycle which ...

NY sugar to retest resistance at 17.25 cents SINGAPORE: New York May sugar may retest a resistance at 17.25 cents per lb, as a rebound from the April 15 low of 16.50 cents has not completed.The rebound is expected to further reverse a preceding three-wave cycle that developed from the March 6 high of 18.47 cents. Three waves labelled a, b, c may make up the rebound, with the current wave b to end around 16.78 cents.The wave c will then take over ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln