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Arabica coffee extends decline on Brazil rains, sugar down LONDON: Arabica coffee futures on ICE extended losses on Tuesday as rainfall in top grower Brazil was expected to provide some relief to trees stressed by unseasonably dry conditions.Raw sugar futures eased, under pressure from surplus supply, while cocoa was also lower.December arabicas were down 2.9 cents or 1.5 percent to $1.9650 per lb at 0948 GMT, having fallen around 7 percent since last week's close on improving weather conditions."Rain has now been forecast for the next few days, following occasional rainfall at the weekend, causing an immediate sharp drop in prices," Commerzbank said in a daily note."Rain is urgently needed for the blossom to develop and to ensure that the blooms already formed do not fall and that fruit can develop from them."Brazil's 2015/16 coffee crop is expected to have been irreversibly damaged by the dry weather, however, which analysts say should underpin the market."Even if more rain does ...


Asia cocoa butter ratios hit 14-month low on high prices, stocks JAKARTA: Asian cocoa butter ratios are trading at their lowest in more than 14 months as the market faced pressure from high butter prices, high powder stocks and sluggish chocolate consumption, traders said.Butter ratios, a key indicator of demand, were quoted as low as 2.2 times London futures, their lowest since early August 2013, although there were offers at 2.25 times. Two weeks ago, ratios stood at 2.28 to 2.35 times futures.Cocoa beans are processed ...

Russia's natural resources minister wants shale oil regulation eased MOSCOW: Russia needs to lighten regulation to exploit unconventional oil deposits, including shale, its natural resources minister said, as conventional resources dwindle and Western sanctions limit access to foreign technologies and financing.The world's top oil producer, believed to hold most of the world's shale oil, extracts less than a million tonnes a year from unconventional sources, including heavy, tight and shale. It pumps conventional oil near its capacity of about 10.5 million barrels per day, ...

Oil climbs to $86 as China oil demand rises LONDON: Brent crude oil rose to around $86 a barrel on Tuesday on news of robust Chinese oil demand, although gains were capped by oversupply and concerns over the health of the rest of the global economy.Implied oil demand in the world's largest energy consumer jumped 6.2 percent in September from August to 10.3 million barrels per day, the highest since February.China's factory output also beat expectations, rising 8 percent in September from a year ...

Thai govt to auction 207,899 tonnes of rice next week BANGKOK: Thailand will offer to sell 207,899 tonnes of rice from state stockpiles next week, a Commerce Ministry official said on Tuesday.The tender for sale will open on Oct. 28 at the foreign trade department after the announcement of eligible bidders the same day.Thailand has stockpiled around 18 million tonnes of rice, accumulated under an intervention scheme by the government of Prime Minister Yingluck Shinawatra who was ousted by the army in May. An audit ...

China's implied oil demand hits 7-month top in Sept BEIJING: China's implied oil demand in September jumped 6.2 percent from levels seen in August to hit a seven-month peak, as crude runs soared to their second highest point this year.A rise in demand from the world's top energy consumer could support crude prices that have plunged 23 percent so far in 2014 amid an amply supplied world market, although a slower global economic growth is expected to keep a lid on gains.Data on Tuesday ...

Malaysia Q3 cocoa grinding falls 13.7pc yr/yr SINGAPORE: Cocoa processing in Malaysia fell 13.7 percent from a year earlier to 61,428 tonnes in the third quarter, the Malaysian Cocoa Board (MCB) said on Tuesday. Cocoa grinding, an indicator of demand, was also down 5.6 percent from the previous quarter, MCB said, without giving further details. Malaysia is Asia's biggest cocoa grinder. Copyright Reuters, 2014


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln