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Egypt's sufficient wheat supply sufficient to last until late April CAIRO: Egypt has sufficient wheat supply to last until late April, just after the government will begin buying wheat from the local harvest, the supplies minister said in a statement on Sunday.Khaled Hanafi said the government would start procuring wheat from local farmers in mid-April. He said the state would pay farmers 420 Egyptian pounds ($59) per ardeb, the equivalent of around 150 kg. That is the same price it paid last year.The local price exceeds the price Egypt pays in the international market by more than $100 per tonne.The minister frequently issues statements about the level of strategic reserves, and these statements do not have a bearing on the world's top wheat importer's purchases from international markets.Indeed, Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said on Saturday it had bought 300,000 tonnes of wheat from France and Russia in a tender due for shipment on ...


Mexico, US clinch deal to settle sugar trade dispute MEXICO CITY: The United States and Mexico have reached a deal to settle a sugar trade dispute that threatened to escalate into a broader spat, and will sign it in the coming hours, a source close to the talks said on Friday.The countries have been working to finalize an agreement to suspend import duties on Mexican sugar that was drafted in late October. The draft was criticized by many in the industry, including refiners who ...

South Korea's MFG buys up to 120,000 T of corn HAMBURG: South Korea's Major Feedmill Group (MFG) purchased up to 120,000 tonnes of corn in two private non-tender deals late on Thursday, European traders said. The corn can be sourced optionally from the United States, Europe, Brazil or Argentina, they said.The corn was all purchased at $213.99 a tonne c&f plus a $1.50 a tonne surcharge for additional port unloading, they said. It was purchased in two consignments, one for arrival around Apr. 17, with ...

Palm ends higher with monsoon in focus, but posts biggest weekly drop in three KUALA LUMPUR: Malaysian palm oil futures ended higher on Friday on concerns over monsoon rains hurting output and as crude prices ticked up, but the recovery was not enough to keep palm from its biggest weekly fall in three.Brent crude oil rose above $60 a barrel on Friday, recovering from near a 5-1/2-year low as investors squared books ahead of the year-end festive break after six months of falling prices.But oil prices were on track ...

Copper up as recovery in oil, equities prompts bargain hunting LONDON: Copper rose more around 1 percent on Friday, leading other base metals higher as recent sharp falls prompted some bargain hunting among investors, who were also encouraged by gains in oil and equities.Global equities are ending their last full week of 2014 on a high after Wall Street boasted its biggest two-day advance since late 2011 amid relief that the Federal Reserve appears in no rush to withdraw stimulus from the US economy. The ...

Gold below $1,200/oz on dollar, shares; heads for weekly loss LONDON: Gold edged lower on Friday, struggling to rise above the $1,200 an ounce mark as the dollar firmed and investor appetite for risk increased on expectations of rising US interest rates. Spot gold was unchanged at $1,197.30 an ounce by 1040 GMT. The metal was heading for a 2.2 percent weekly fall after two weeks of gains. US gold futures for delivery in February gained 0.1 percent to $1,196.00 an ounce. The Fed, after ...

Wheat drops after 6-day rally on Russia risks PARIS/SINGAPORE: US wheat futures fell more than 3 percent on Friday, halting a six-day rally that was triggered by signs that major exporter Russia is curbing shipments to tackle surging domestic prices. Chicago Board of Trade March wheat climbed nearly 13 percent in the past six sessions, peaking at an almost seven-month high of $6.77 a bushel on Thursday as investors fretted over the risk of Russian cutting off a key supply source for the ...


 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln