07272016Wed
Last update: Wed, 27 Jul 2016 04pm

Asia

Markets - Commodities - Asia

Bangladesh tea prices fall amid ample supply DHAKA: Tea prices in Bangladesh fell about 1 percent at the weekly auction on Tuesday as volumes on offer were at their highest level of the season.Bangladesh tea fetched an average of 212.48 taka ($2.8) per kg at the auction, the 13th of the new marketing season, compared with 214.23 taka in the previous sale.A larger quantity of tea was on offer which was well absorbed at slightly lower rates, National Brokers said in a market report.About 2.3 million kg were offered at the sole auction centre in Chittagong, of which about 8 percent was unsold. In the previous auction, about 8 percent of the 2 million kg on offer was unsold.Bangladesh has moved from being a net exporter to a net importer of tea due to rising consumption.Copyright Reuters, 2016 ...

Markets - Commodities - Asia

Gold eases on firm dollar, stocks; Fed rate policy in focus BENGALURU: Gold edged slightly lower on Wednesday as the dollar and equities firmed ahead of the US Federal Reserve's policy decision due later in the day when it is expected to keep interest rates unchanged.The Fed is likely to defer any possible increase until September or December, as policymakers hold out for more evidence of a pickup in inflation.Asian stocks settled near one-year highs on Wednesday while the safe-haven yen slumped after Japan's government announced ...

Markets - Commodities - Asia

Palm makes late gains on US soy, Malaysia's biodiesel plan KUALA LUMPUR: Malaysian palm oil futures reversed losses in late trade on Tuesday, in response to a stronger performance by US soybean oil, plus Malaysia's commitment to raise the minimum bio content in biodiesel, which will boost palm oil consumption.Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange rose 1.7 percent to 2,309 ringgit ($569) per tonne at the close of trade, its strongest daily gain since July 20.Traded volumes stood ...

Markets - Commodities - Asia

Wheat up more than 1.5pc on concern over European crop SINGAPORE/PARIS: Chicago wheat prices rose on Monday on growing concern that the size of the crop in the European Union, the world's largest exporter of the cereal, could be lower than expected, pulling up corn in their wake.Soybeans rebounded slightly from a three-month low hit in the previous session when forecasts of near-perfect weather during next month's yield-determining phase for the US crop dragged on prices.The Chicago Board of Trade (CBOT) most-active wheat contract was ...

Markets - Commodities - Asia

South Korea groups bought 170,000 tonnes South American soymeal HAMBURG: Three South Korean buyers purchased a total of about 170,000 tonnes of soymeal in separate deals late last week as global soymeal prices dropped sharply, European traders said on Monday. The purchases were made by South Korea's largest feedmaker Nonghyup Feed Inc. (NOFI), by the Major Feedmill Group (MFG) and by the Korea Feed Association (KFA), they said.All the soymeal was likely to be sourced from South America, they said.NOFI bought 60,000 tonnes at ...

Markets - Commodities - Asia

Palm extends losses, tracking weak overseas soy markets KUALA LUMPUR: Malaysian palm oil futures extended losses on Monday, coming off a two-week high reached last week, as weakness in overseas soybean oil prices lured buyers away from the tropical oil.Palm's rival vegetable oil soy fell sharply on Friday on the Chicago Board of Trade amid expectations for a bumper US crop this fall. Dalian prices of the commodity slipped a percent on the day and looked set to extend their losses this week.Benchmark ...

Markets - Commodities - Asia

Chinese iron ore futures fall, posting weekly loss SHANGHAI: Chinese iron ore futures fell on Friday and posted a weekly loss of 4.5 percent, pressured by rising port inventories and falling steel prices in the world's top producer of the metal. Dalian Commodity Exchange iron ore for Septemberlost 1 percent to 428.5 yuan ($64.24) a tonne by close, after earlier rising more than 3 percent on a bump in spot prices on Thursday. The contract declined for the first week after four straight ...