09272016Tue
Last update: Tue, 27 Sep 2016 08am

Asia

Markets - Commodities - Asia

Palm oil rises on cut in India import duty, weaker ringgit KUALA LUMPUR: Malaysian palm oil futures recovered on Monday from a nearly 2 percent fall in the previous session, supported by expectations of more imports from India and on a weaker ringgit.Benchmark palm oil futures for December on the Bursa Malaysia Derivatives Exchange rose 1.5 percent to 2,715 ringgit ($656) a tonne at the midday break.Traded volumes stood at 16,184 lots of 25 tonnes each at noon.It fell 1.8 percent on Friday, weighed down by lower demand and profit-taking.India announced on Friday it would lower its import duty on crude palm oil and refined vegetable oils by five percentage points to 7.5 percent and 15 percent, respectively, as part of efforts to curb food inflation.Traders say the lowered rate is expected to boost palm exports, which have slowed this month on weaker demand from India.Palm oil shipments from Malaysia, the world's second largest palm producer, fell 15.6 percent in the ...

Markets - Commodities - Asia

Soybeans rise from one-week low, market eyes US weather SINGAPORE: Chicago soybean prices edged up on Monday, recovering from their lowest in more than a week hit earlier in the session on forecasts of dry weather that is expected to help harvesting of a record US crop.Wheat ticked up after closing lower for the last two sessions, while corn lost ground.Chicago Board of Trade's most-active soybean contract had risen 0.3 percent to $9.58-1/4 a bushel by 0351 GMT, having earlier hit its lowest since ...

Markets - Commodities - Asia

Vietnam's Jan-Sept rice exports drop to 3.76mn tonnes HANOI: Vietnam, the world's third-largest rice exporter after India and Thailand, will export an estimated 3.76 million tonnes of the grain between January and September, down 16.4 percent from the same period last year, the agriculture ministry said on Monday.Revenue from the nine-month rice exports, mostly sold to China, Ghana and Indonesia, will reach an estimated $1.69 billion, or 12.5 percent lower from a year ago, the ministry said in a monthly report.Copyright Reuters, 2016 ...

Markets - Commodities - Asia

Palm oil prices to hit 3,000 rgt/T, four-year high, by Q4 PANAJI: Malaysian crude palm oil prices are expected to jump to 3,000 ringgit ($728.86) a tonne by the October-December quarter, the highest in four years, as an El Nino weather event curbs yields, a leading edible oil analyst, Thomas Mielke, said on Friday. Benchmark palm oil futures have already gained 8 percent this year with dryness linked to El Nino hurting palm fruit bunches in top producers Indonesia and Malaysia. Prices hit a five-month peak ...

Markets - Commodities - Asia

Asia Gold-Buying tepid ahead of Chinese holiday, festival season in India BENGALURU/MUMBAI: Asian physical gold demand remained subdued this week ahead of a national holiday in China and amid what is considered an inauspicious period before the festival season begins in October in India.Higher international prices also dampened sentiment after they rose nearly 2 percent this week, the highest since end-July, as the Federal Reserve decided to stand pat on US interest rates. Demand for gold is expected to strengthen in the final quarter as India ...

Markets - Commodities - Asia

China blocks 15 coal-fired power plants projects BEIJING: China cancelled 15 new coal power plant projects, with a total capacity of 12.4 million kilowatt hours, the National Energy Administration (NEA) said on late Friday. The projects are located across several regions of China, including Shanxi and Shandong provinces in eastern China and Guangdong province in the South. In a strictly worded document, the NEA says it will crackdown on illegal coal power plant construction.Companies that break the rules will be punished by ...

Markets - Commodities - Asia

Palm falls on lower demand, profit-taking KUALA LUMPUR: Malaysian palm oil futures declined in trade on Friday, weighed down by lower demand and profit-taking, but posted their biggest weekly gain since mid-August.Benchmark palm oil futures for December on the Bursa Malaysia Derivatives Exchange were down 1.8 percent at 2,675 ringgit ($651) a tonne by the end of the trading day.The contract hit its highest since April 21 at 2,729 ringgit on Thursday, and has gained 3.1 percent this week in its ...