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Raw sugar rises again after record delivery, robusta drops NEW YORK/LONDON: Raw sugar futures on ICE rose for the third straight day on Thursday, in choppy dealings buoyed by talk of heavy vessel nominations for the record May delivery while the weak commodity complex added pressure.Robusta coffee fell to a two-month low, pressured by forecasts for rains in major grower Vietnam, while cocoa rose in sideways dealings.Raw sugar futures continued to attract short covering on strong vessel nominations after a big delivery against expiry of the May contract, suggesting a large amount of the sweetener will be exported near-term and raising concern by others who need to secure supplies, dealers said."Reports that most of the sugar delivered out of center-south Brazil ports has had vessels nominated against it may be causing a flurry among trade deliverers who may not have had the physical cover," Nick Penney, a senior trader with Sucden Financial Sugar, said.July raw sugar futures settled up ...


EU wheat down with Chicago, front-month tumbles ahead of expiry  PARIS: European wheat futures weakened on Thursday after a fall on US markets while front month May, the last contract for the current season, tumbled as much as 6 percent before its expiry on Monday.December milling wheat, the new-crop benchmark on Euronext, was down 0.50 euro or 0.3 percent by 1610 GMT to 174.00 euros a tonne."The market is mainly impacted by the fall in Chicago," a trader said.US wheat was hit by profit taking ...

Copper propped up by hopes of Chinese stimulus LONDON: Copper was supported on Thursday by expectations of further stimulus to boost economic growth in top consumer China, but gains were capped by equity market losses and a stronger dollar.Three-month copper closed at $6,400 a tonne from $6,390 at Wednesday's close. The metal used in the construction and power industries hit $6,481 a tonne earlier in the week, its highest since Dec. 15."Metals are looking for direction from the PBOC (China's central bank)," said ...

Corn, soy dip on weather view; wheat falls from 1-week high CHICAGO: US corn and soybean futures fell on Thursday, pressured by forecasts for wet and warm weather in the Midwest that will foster early development of both crops in the coming weeks, traders said.Wheat futures also dropped after a sharp rally on Wednesday despite reports of poor yields from a crop tour of Kansas.Corn sagged 1.2 percent. The outlook for rain overwhelmed a US government report that showed old-crop export sales of corn topped expectations ...

Iraq passes in 30,000 tonne rice tender HAMBURG: Iraq has rejected all offers and made no purchase in an international tender to buy at least 30,000 tonnes of rice, European traders said on Thursday. Prices were regarded as too high. The tender from Iraq's state grains buyer had closed on April 26 and offers had to remain valid until Apr. 30, traders said. Copyright Reuters, 2015

Copper price to struggle even as mine outages slash market surplus LONDON: Faltering demand in leading global copper consumer China will see prices of the metal struggle to gain traction this year, despite disruptions at mines that will slash the expected market surplus by half, a Reuters poll showed. Aluminium prices will also face headwinds as the market braces for more oversupply, having previously been expected to flip into deficit for the first time in nine years, the poll showed. Analysts trimmed forecasts of expected shortages ...

NY cocoa's target at $3,000 aborted SINGAPORE: A bullish target at $3,000 per tonne has been aborted for New York July cocoa as it failed to climb above the May 1 high of $2,967.The target was based on an assumption that the uptrend from the March 31 low of $2,682 consists of five waves, with the final wave labeled e unfolding towards the upper trendline of a rising wedge. Cocoa's failure to reach $2,967 has raised a question on whether the ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln