05282016Sat
Last update: Sat, 28 May 2016 02pm

Markets - Commodities

Markets - Commodities - Asia

Palm's rise capped by stronger ringgit; set for 1st weekly gain in three KUALA LUMPUR: Malaysian palm oil futures were unchanged at the midday break on Friday after falling earlier on a stronger ringgit, but were on track for their first weekly gain in three on expectations of lower-than-expected output and steady Ramadan demand.The ringgit hit 4.0600 per dollar earlier in the day, its strongest level in more than a week, before dipping slightly to 4.0780.A stronger ringgit, the currency of trade for palm oil, makes it cheaper for holders of foreign currencies.The palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange stood at 2,579 ringgit ($632) per tonne at noon, after hitting an intraday low of 2,555 ringgit.Palm has gained for three out of four sessions so far this week and was up 2 percent on the week, on track for its first weekly gain in three weeks.It rose 1.4 percent on Thursday.Traded volumes stood at 15,397 lots of ...

Markets - Commodities - Asia

Vietnam's Jan-May rice exports advance to 2.5mn tonne HANOI: Vietnam, the world's third-largest rice exporter after India and Thailand, will export an estimated 2.5 million tonnes of the grain in the first five months of 2016, up 4.3 percent from a year ago, the government said on Friday. Revenue from the January-May rice shipments, headed mostly for China, Indonesia and the Philippines, will reach an estimated $1.13 billion, up 8.4 percent from the same time last year, the General Statistics Office said in ...

Markets - Commodities - Europe

London copper eyes largest monthly drop since November MELBOURNE: London copper rose on Friday, helped by a rebound in China steel, but expectations that a likely hike in US interest rates in the next two months will boost the dollar kept prices on track for their worst month in half a year. Concerns about faltering growth in top metals user China pressured copper. Profit growth at China's industrial firms slowed in April, in line with other data for the month which suggested the ...

Markets - Commodities - Asia

Vietnam's May coffee exports jump 61pc y/y to 170,000 tonne HANOI: Vietnam, the world's largest robusta producer, will export an estimated 170,000 tonnes (2.83 million 60-kg bags) of coffee in May, an increase of 61 percent from a year ago, the government said on Friday, and higher than market expectations. The May shipments will bring the country's coffee exports so far in the 2015/2016 season to 1.17 million tonnes, a 36 percent jump from the previous season, the General Statistics Office said in a monthly ...

Markets - Commodities - Asia

China commodities rally but steel, iron ore face worst month MANILA: Chinese commodities rallied broadly on Friday in a rare respite from a weeks-long reversal that has hit steel-linked materials particularly hard, with steel and iron ore futures still headed for their biggest monthly falls on record. Analysts pinned the gains on short-term production curbs in China's biggest steelmaking city and an "oversold" market after a selloff that has left some commodities nursing losses of more than 20 percent in just five weeks.Shanghai steel futures ...

Markets - Commodities - Asia

India's key sugar producer imposes limits on stocks MUMBAI: India's biggest sugar producing state imposed limits on the quantity of sugar that traders can keep as the authorities try to arrest rising prices of the sweetener. India's western state of Maharashtra issued late on Thursday an order that prohibits traders from holding more than 500 tonnes of sugar. The federal government asked states last month to impose the limit to avoid hoarding."Stock limit will deter speculators keen to hoard sugar. As far as ...

Markets - Commodities - Americas

US sets 2017 sugar tariff-rate import quota at minimum NEW YORK: The US Trade Representative (USTR) on Thursday set the tariff-rate import quota for sugar fiscal 2017 at the minimum required and announced increases for quota holders in the current 2016 year, the government said in two statements. The raw sugar import quota for 2017 will be established at the minimum of 1.12 million tonnes and the refined sugar quota at 162,000 tonnes, the USTR said. The USTR also announced allotments for specific countries ...