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Palm falls to more than 3-week low as crude oil slides KUALA LUMPUR: Malaysian palm oil futures fell to their lowest in more than three weeks on Thursday, dragged by sliding crude prices and worries that bigger supplies of rival edible oils would snatch food and fuel demand away from palm.Brent crude for November delivery dropped to $82.72 a barrel, the lowest since November 2010, while US crude fell $1.01 to $80.77 a barrel, as growing concerns over the global economy stretched a four-month rout.Palm oil competes with the energy market for its increasing use as a renewable fuel."Energy demand took a hit," said a trader with a foreign commodities brokerage in Kuala Lumpur. "Energy prices are very, very bearish. The palm oil-gas oil spread is going down to $80-$90 levels, which is crazy."The spread between Malaysian crude palm oil and gasoil quoted in Singapore was a much wider $260 earlier in August.The benchmark January contract on the Bursa Malaysia Derivatives ...


Egypt government approves plan to allow export of rice CAIRO: Egypt's government has approved plans to allow the export of rice, the supplies minister said on Thursday, bringing a major medium-grain rice exporter back into the international market for the first time since 2013.Traders would be allowed to export rice provided they sell the government one tonne of medium-grain rice at 2,000 Egyptian pounds($279.72) for every tonne of rice they export.Exporters would also have to pay a tariff of $280 per tonne exported, the ...

Ukraine winter wheat sowing 93pc complete KIEV: Ukrainian farmers had sown 5.7 million hectares of winter wheat as of Oct. 15, or 93 percent of the forecasted area, the agriculture ministry said on Thursday. Ukraine plans to sow a total of 6.2 million hectares of winter wheat for the 2015 harvest versus 6.1 million hectares sown last year, the ministry said in a statement. Winter wheat accounts for 95 percent of the country's overall wheat output. Ukraine harvested 24.4 million tonnes ...

Uganda coffee exports fall 7pc yr/yr in September KAMPALA: Uganda coffee exports for September fell by 7 percent to 207, 927 60-kg bags of coffee compared with the same month a year ago, an industry source said on Thursday, extending a pattern of lower exports this year. Industry experts in Uganda, Africa's number one exporter of coffee which mostly cultivates the robusta variety, said the coffee yield is usually poorer in some parts of the country at this time of the year. "We're ...

NY sugar to fall to 16.36 cents SINGAPORE: New York March sugar is expected to fall to a support at 16.36 cents per lb, a break below which will lead to a further loss to 16.16 cents.The support is provided by the 50 percent Fibonacci retracement on the rise from the Sept. 23 low of 15.51 cents to the Oct. 9 high of 17.20 cents. Sugar has cleared a former support at 16.55 cents, the 38.2 percent retracement, and is heading towards ...

NY coffee to test support at $2.1310 SINGAPORE: New York December coffee is expected to test a support at $2.1310 per lb, with a good chance of breaking below this level and falling more to $2.0605.It is clear that a top has formed around a resistance at $2.2440, the 100 percent Fibonacci projection level of an upward wave c. Coffee has broken a support at $2.1790, the 86.4 percent level. The next support will be at $2.1310, the 76.4 percent level, which ...

Palm prices seen up from current levels by end-2014; oilseeds supply eyed KUALA LUMPUR: Palm oil futures may end the year 2 percent above current levels due to lower output in second-biggest producer Malaysia, but abundant supplies of rival oilseeds mean prices will still close down about 19 percent for the year, a Reuters poll showed.While a median survey of 14 planters, analysts and traders pegged prices at 2,161 ringgit ($660.05) per tonne for the end of this year, forecasts ranging between 1,900 ringgit and 2,600 ringgit ...


 



 
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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