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Sugar, arabicas recover, edge off multi-month lows LONDON: Sugar, arabica coffee and cocoa futures on ICE rose on Thursday, recovering in line with oil prices after their slump to five-year lows this week.Sugar prices have been pressured by tumbling oil prices as this makes cane-derived ethanol biofuel less competitive.March raw sugar traded up 0.23 cent, or 1.6 percent, at 14.95 cents a lb at 1444 GMT, having touched 14.62 cents on Wednesday, the lowest since Sept. 24."The oil market is rallying so this is perhaps helping matters (in sugar)," said Nick Penney, senior trader with Sucden Financial Sugar.Brent crude rose 2 percent to above $62 a barrel on Thursday, extending a rebound from five-year lows this week as oil's six-month price rout forced more energy firms to cut investments in new production.Traders turned their attention to Friday's Commitments of Traders (COT) report."We expect the COT report to show a large net short by the speculative community and ...


Bangladesh issues another tender to buy 50,000 tonnes wheat HAMBURG: Bangladesh's state grains buyer has issued another international tender to purchase and import 50,000 tonnes of wheat, European traders said on Thursday.Optional origin was sought with shipment 40 days after contract signing. Tender closing date is Jan. 4, 2015, traders said.A separate tender from Bangladesh for the purchase of 50,000 tonnes of wheat closes on Dec. 23. Bangladesh's state grain buyer wants to import 900,000 tonnes of wheat in the current fiscal year.Copyright Reuters, ...

NY cocoa to retest resistance at $2,933 SINGAPORE: New York March cocoa may retest a resistance at $2,933 per tonne, a break above which will open the way towards the next resistance at $2,954.These two resistances are identified respectively as the 50 percent and the 61.8 percent Fibonacci projection levels of an upward wave C, the third wave of a presumed three-wave cycle that developed from the Nov. 13 low of $2,780.Support is at $2,912, the 38.2 percent level, a break below ...

TOCOM extends gains on weak yen TOKYO: Benchmark Tokyo rubber futures rose for a second day on the back of a weaker yen, dealers said on Thursday.Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, have so far fallen 26 percent this year on worries of excess supply from major Asian producers and weak demand in China, the world's top user.The Tokyo Commodity Exchange rubber contract for May delivery finished 1.1 yen, or 0.5 ...

Wheat surges again on Russia export jitters PARIS/SYDNEY: US and European wheat futures raced higher again on Thursday as signs that Russia is trying to slow down exports in a bid to curb domestic prices continued to unnerve the market.Price movements were volatile, however, as some investors rushed to buy on the risk of reduced supply from Russia while others saw a selling opportunity given ample global grain stocks.In a meeting with grain exporters on Wednesday, Deputy Prime Minister Arkady Dvorkovich said ...

Gold rises 2pc as Fed takes patient stance on rate hike LONDON: Gold climbed more than 2 percent on Thursday after the Federal Reserve said it would take a patient approach toward raising interest rates, lifting stock markets and commodities while dampening the dollar.Fed Chair Janet Yellen said the Fed was unlikely to hike rates for "at least a couple of meetings", meaning April of next year at the earliest.Rising U.S. interest rates increase the opportunity cost of holding non-interest bearing assets such as gold, and ...

India to soon decide on raw sugar export incentives NEW DELHI: India, the world's second-biggest sugar producer, will soon decide on extending incentives for raw sugar exports, Food Secretary Sudhir Kumar said on Thursday, as mills struggle to pay farmers the stipulated price for cane."We will soon consider export incentive for raw sugar," Kumar told a conference of sugar producers in New Delhi.To help mills, India gave an upto 3,371 rupees a tonne financial incentive for raw sugar exports in the 2013/14 marketing year ...


 



 
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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