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Palm oil drops to weakest in 5 weeks as demand wanes KUALA LUMPUR: Malaysian palm oil futures fell for a third session on Monday, dropping to their lowest in nearly five weeks as poor demand from major buyers sparked concern that palm's use in food and fuel industries may continue to slump in coming months.Palm prices ran up 14 percent from December to a six-month high of 2,394 ringgit by Jan. 15 after monsoon flooding wreaked havoc in parts of Malaysia, the second-biggest grower, inundating estates and destroying infrastructure.But market players say worries about the devastation have cooled, and even if growers expect another big drop in output this month, waning export demand from India, China and Europe plus the rout in crude oil could offset that."Production is down temporarily, but soon it will rise again, and people are worried about how demand will be, with the poor economic growth," said a trader with a foreign commodities firm in Kuala Lumpur."We ...

Iron ore hits 5-/12 year low as China mills cut output SHANGHAI: Iron ore prices hit their lowest in 5-1/2 years on Monday despite some loss-making Chinese steel mills curbing output, as ore supplies remained abundant and as concerns persisted about the outlook for economic growth in China this year.Cooling Chinese steel demand forced some steel mills to bring forward plant maintenance, which usually takes place during the Chinese New Year, which falls on Feb. 19. Mills looked to curb oversupply that helped knock nearly a ...
Palm oil to hover above 2,211 ringgit SINGAPORE: Palm oil code has been changed. Palm oil may hover around a support at 2,211 ringgit per tonne, or rebound to 2,230 ringgit, as indicated by a Fibonacci retracement analysis.The support is provided by the 38.2 percent Fibonacci retracement on the rise from the Sept. 2, 2014 low of 1,914 ringgit to the Jan. 15 high of 2,394 ringgit. It is strengthened by another support at 2,214 ringgit, the 14.6 percent Fibonacci retracement on ...
Vietnam Jan rice exports fall to 312,000 tonnes HANOI: Vietnam's rice exports this month are estimated to have dropped 14.5 percent from a year ago to 312,000 tonnes, the agriculture ministry said on Monday.Revenue from rice shipments in January may fall 12.7 percent from the same month last year to $152 million, the ministry said in its monthly report.Vietnam, the world's third-largest exporter after Thailand and India, has projected to ship between 7 million and 7.5 million tonnes of rice this year. Last ...
CBOT wheat to hover above $5.26-1/2 SINGAPORE: CBOT March wheat failed to break a support at $5.26-1/2 per bushel and may hover above this level or revisit its Jan. 21 high of $5.44-1/2.The support is provided by the 76.4 percent Fibonacci retracement on the uptrend from the Sept. 25, 2014 low of $4.80 to the Dec. 18, 2014 high $6.77. It is stronger than expected, as it still holds after being tested twice.Wave pattern indicates wheat is riding on a wav ...
TOCOM falls 1pc, follows Shanghai decline TOKYO: Benchmark Tokyo rubber futures fell 1 percent on Monday, the expiration day of the January contract, hurt by a decline in Shanghai futures amid worries over global demand.Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, have fallen nearly 8 percent so far this year, weighed down by concerns of oversupply and weak demand in China, the world's biggest buyer.The Tokyo Commodity Exchange rubber contract for June ...
NY coffee to test support at $1.5860 SINGAPORE: New York March coffee is expected to test a support at $1.5860 per lb, a break below which will open the way towards the next support at $1.5045.These two supports are identified as the 38.2 percent and the 50 percent Fibonacci projection levels of a downward wave C, the third wave of a three-wave cycle that developed from the Oct. 13, 2014 high of $2.2910.A trendline passing through the Nov. 4, 2014 low of ...

 



 
Index Closing Chg%
Arrow DJIA 17,652.60 0.79
Arrow Nasdaq 4,757.88 0.16
Arrow S&P 2,051.82 0.55
Arrow FTSE 6,832.83 0.53
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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%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln