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Brazil government raises wheat crop forecast, trims soy SAO PAULO: Brazil's 2014 wheat crop will likely yield 7.37 million tonnes, up 33 percent from last year as new fields are sown, the Agriculture Ministry's crop supply agency Conab said on Tuesday.Farmers are expected to increase area planted with wheat by 18.4 percent from last year following global supply concerns due in part to strife in Ukraine. But climate conditions might not warrant a repeat of last season's record yields, Conab said.Conab had forecast a crop of 6.88 million tonnes in May, and Brazil harvested 5.53 million tonnes in 2013.The international market is eager for information on the size of the local wheat crop in order to gauge how much wheat Brazil will import from the northern hemisphere amid uncertainty over export limits in its usual source, neighboring Argentina.Considering Tuesday's forecast, Brazil will need to import 5.5 million tonnes of wheat in 2014, down from 6.7 million tonnes in ...

Global cocoa demand growth to slow even as grinding soars NEW YORK: Global demand for cocoa will grow at a slower pace than many in the industry expect, even as grinding rates hit fresh record highs, an executive at Blommer Chocolate Co, North America's No. 1 cocoa grinder, said on Tuesday.Jeff Rasinski, corporate director of procurement for Blommer, estimated global cocoa demand will rise 2.1 percent to 2.2 percent in 2014, down from the company's estimate of a 2.5 percent to 3 percent rise in ...
US corn conditions slip in the past week, surprising analysts CHICAGO: Weekly US corn conditions declined slightly in the past week, surprising many traders who expected the government to keep ratings steady or raise them given nearly ideal crop weather across the central Midwest, analysts said on Monday. The US Department of Agriculture rated 75 percent of the corn crop good to excellent as of Sunday, down 1 percentage point from a week ago. Analysts polled by Reuters expected USDA to rate 76 percent of ...
Colombia May coffee output up 12pc on year, exports slip BOGOTA: Colombia produced 1.05 million 60-kg bags of arabica coffee in May, up 12 percent from the same month last year, the national coffee growers' federation said on Wednesday, while exports slipped 3 percent to 831,000 bags.Colombia's mild arabica coffee output is rebounding after a run of poor harvests caused by roya, or leaf rust fungus, and poor weather. The farmer-funded federation did not give a reason for the small year-on-year decline in exports.The federation ...
Gold hits 4-month low, longest losing streak in 7 months NEW YORK: Gold prices edged lower for a fifth day in a row on Monday, marking their longest losing streak in seven months, as investors remained glued to ebullient equity markets after US stocks hit another record high.Caution ahead of the latest European Central Bank policy meeting and a rash of key US data due this week also kept gold bulls at bay.The spot price of gold was down 0.7 percent at $1,242.90 an ounce ...
Cocoa at highest since 2011 NEW YORK: Cocoa futures rose on Friday to their highest level in 32 months, buoyed by the potential for a deficit in the 2014-15 crop year, while arabica and robusta coffee saw their weakest monthly performances since September 2011.Raw sugar prices on ICE Futures US fell, dragged by a weak physical market. Cocoa futures on both ICE and Liffe rose to their highest in around 33 months, after gaining for 10 of the past 11 ...
Gold flat, pares losses as data shows US GDP shrank NEW YORK/LONDON: Gold traded flat on Thursday, bouncing off its lowest level in nearly four months after data showing that the U.S. economy contracted in the first quarter for the first time in three years.The U.S. Commerce Department estimated that gross domestic product shrank in the first quarter at a 1.0 percent annual rate. Economists blamed severe winter weather, and the stock market took the news in stride, with all three major U.S. stock indexes ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln