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Palm retreats on worries over rising output, Indonesian levy  KUALA LUMPUR: Malaysian palm oil futures fell on Tuesday, ending a three-day winning streak due to concerns over rising palm supplies and on anticipation of stiffer competition from top producer Indonesia.Traders said Indonesia's plans to impose a levy on its exports of crude and processed palm oil could channel demand to Malaysia, which may in turn force Indonesian sellers to reduce their prices to remain attractive.Indonesia accounts for about 52 percent of world output."Indonesia will soon lower their prices to compete and the market will need to adjust to that," said a trader with a local commodities brokerage in Malaysia.The benchmark June contract on the Bursa Malaysia Derivatives exchange had inched down 1.1 percent to 2,208 ringgit ($608) a tonne by Tuesday's close. Total traded volume stood at 40,373 lots of 25 tonnes, above the usual 35,000 lots.Worries about a strong recovery in crude palm oil production in Malaysia added ...


US wheat dips for 2nd day on improved weather outlook SINGAPORE/PARIS: US wheat edged lower on Tuesday with the market extending a two-day decline to almost 2 percent, as forecasts for much-needed rains eased fears of potential yield losses in the United States and Black Sea region.Corn was little changed amid forecasts of rain likely to delay US spring planting.Chicago Board of Trade May wheat fell 0.8 percent to $5.23-1/2 a bushel by 1036 GMT.Corn was virtually flat, down 0.06 percent at $3.84-3/4 a bushel, ...

Arabica coffee corrects after rally, sugar steadies LONDON: Arabica coffee futures corrected lower on Tuesday after rallying more than 4 percent to a six-week high in the prior session, while sugar steadied and New York cocoa eased pressured by a stronger dollar.The arabica market failed to attract follow-through buying after the rally on Monday, spurred by a firming Brazilian currency, when the London robusta market remained shut for the long holiday weekend."London's inability to rally is weighing on New York arabicas," one ...

Gold retreats from 7-week top as dollar bounces back LONDON: Gold edged lower on Tuesday as the dollar recovered and European shares rose, but uncertainty about the timing of a U.S. interest rate increase kept bullion not far from a seven-week high above $1,200 an ounce.Bullion rose to its highest since Feb. 17 at $1,224.10 on Monday, supported by a weakening dollar after U.S. non-farm payrolls data fuelled expectations that the Federal Reserve could delay an anticipated rate increase this year.U.S. jobs posted the ...

Nickel tumbles as funds renew assault; copper ticks higher LONDON: Nickel slid more than 3 percent on Tuesday as bearish investors renewed a selloff of the metal which has been weighed down by oversupply and record inventories.While nickel prices may succumb to another onslaught in the short term, a prolonged downtrend is not sustainable due to the dynamics in the Chinese market, said analyst Nicholas Snowdon at Standard Chartered in London."In the very short term, if there's enough aggression to the shorting, then prices ...

France sees total soft wheat area up 3.4 percent PARIS: France's farm ministry on Tuesday pegged the total soft wheat area sown ahead of the 2015 crop, including winter and spring crops, at 5.2 million hectares, up 3.4 percent on 2014.In its first estimates for the country's spring crop area, it put total barley sowings at 1.8 million hectares, down 0.7 percent on year, of which 464,000 hectares of spring barley, usually used to make malt, down 11.8 percent on last year.In durum, it ...

Honduras coffee exports jumped nearly 50pc in March TEGUCIGALPA: Coffee exports from Honduras, Central America's top producer, spiked 46.4 percent in March compared with the same month last year, the national coffee institute IHCAFE said on Monday. Coffee shipments in March reached 901,311 60-kg bags. The export growth was due to output from late-maturing plantations in some parts of the country as well as an ongoing recovery from the tree-killing fungus roya, also known as coffee leaf rust, IHCAFE Vice President Dagoberto Suazo ...


 



 
Index Closing Chg%
Arrow DJIA 17,826.30 1.54
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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%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln