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Liffe cocoa, coffee prices need to rise to rebuild exchange stocks LONDON: A disconnect between the futures and cash prices for London coffee and cocoa, partly due to intervention by the exchange to keep markets orderly, has led to a depletion in Liffe stocks, which will only be rebuilt to healthy levels if futures rise. Even with cocoa and coffee September contracts already trading at premiums and cocoa futures trading at around a three-year high, traders said prices are yet to reflect the strength of those on the physical (cash) markets. "Certified stocks are pretty low in both cocoa and coffee and to replenish them you would need some degree of cash convergence (to futures) to attract fresh gradings to the board," a European analyst said. "Maybe you just need this one-off cash convergence to get coffee and cocoa to the board to get a stock level that is reflective of the current balance sheet rather than one that's too low ...


Taiwan passes in tender to buy 80,900 tonnes US wheat HAMBURG: The Taiwan Flour Millers' Association made no purchase in a tender for 80,900 tonnes of milling wheat to be sourced from the United States which closed on Friday, European traders said. Prices were regarded as too high, traders said. The tender had sought wheat in two consignments for shipment between Sept. 8-22 and Sept. 25 to Oct. 9. "Some wheat importers are delaying purchases in the hope that prices will fall further with good ...

Palm gives up gains as export demand falters KUALA LUMPUR: Malaysian palm oil futures ended lower on Friday, reversing gains in the morning session to post their fourth straight weekly loss, as weaker-than-expected export data and jitters over rising global oilseed supply dragged.Palm oil prices had edged up to 2,294 ringgit in early trade as investors short-covered positions ahead of the long weekend. Malaysian markets will be closed on Monday and Tuesday for the Eid al-Fitr holiday.But dwindling demand for palm oil after ...

Gold set for second weekly loss on strong economic data LONDON: Gold edged up on Friday but remained subdued near a five-week low and was headed for a second straight week of losses, as a strong dollar after robust economic data offset a fall in equities due to rising political tensions. Spot gold was up 0.2 percent at 1,295.90 an ounce by 1059 GMT, after losing nearly 1 percent on Thursday, when it hit its lowest since June 19 at $1,287.46. US gold futures were ...

Copper rises on China growth, improved supply prospects weigh LONDON: Copper rose on Friday, just short of a 4-1/2 month peak, on positive factory data from China and was set to rise more than 2 percent this week. Benchmark London Metal Exchange copper hit an intraday high of $7,198.25 per tonne, close to the 4-1/2 month peak of $7,212 it hit on July 8. It was $7,186 a tonne at 1048 GMT, up 0.2 percent on the day."We had a good day yesterday on ...

Tokyo futures rise 1.7pc on strong China data TOKYO: Benchmark Tokyo rubber futures ended up 1.7 percent on Thursday, getting support from firm Shanghai futures after a private survey showed upbeat Chinese manufacturing data.The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) for December delivery rose 3.4 yen to settle at 205.0 yen ($2.02) per kg.The contract jumped as high as 205.7 yen, the highest since Friday.China's factory activity expanded at its fastest pace in 18 months in July as new orders ...

China's gold imports from Hong Kong drop to 17-month low in June SINGAPORE: China's net gold imports from main conduit Hong Kong fell to a 17-month low in June as a weaker yuan and adequate stocks curbed fresh purchases from the world's biggest bullion consumer.June net gold flows into China from Hong Kong slid to 40.543 tonnes from 52.606 tonnes in May, according to data e-mailed to Reuters by the Hong Kong Census and Statistics Department. In the year-ago period, net imports were 104.567 tonnes.The imports were ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln