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Palm oil share in India's edible oil imports seen at 9-year low: industry MUMBAI: The share of palm oil in India's growing edible oil imports is expected to drop to the lowest since 2005/06 in the current year to October, as a narrower discount for prices of the tropical oil versus that of rival soyoil hurts demand.This shift in buying pattern at the world's top palm oil importer could drag on benchmark prices that have shed 3 percent in 2015 amid ample global soyoil supplies. Weak Brent crude prices have also dragged by making palm an unattractive option for blending into biodiesel.The share of palm oil in India's total edible oil imports will drop to 65 percent, said Govindbhai Patel, a trade expert and managing director at GG Patel & Nihil Research Co."Incremental demand has been shifting to soyoil," he said.The tropical oil accounted for as much as 86 percent of India's edible oil imports in 2007/08 and 68 percent in 2013/14.While palm ...

Palm hits near 2-week low before turning positive as exports eyed JAKARTA: Malaysian palm oil futures touched a near two-week low on Monday, before reversing losses to end positive as traders positioned themselves ahead of export data due later this week.The benchmark June contract on the Bursa Malaysia Derivatives ended 1 percent higher at 2,190 ringgit ($590) a tonne. Prices earlier hit 2,143 ringgit, its lowest levels since March 18 before climbing as high as 2,196 ringgit.Total traded volume stood at 37,613 lots of 25 tonnes, ...
TOCOM drops to 3-week low on falling oil prices TOKYO: Benchmark Tokyo rubber futures dropped to a nearly three-week low on Monday as slumping oil prices and weaker Shanghai futures prompted fresh sell orders amid lingering concerns about slow demand in China, the world's top buyer, dealers said.The Tokyo Commodity Exchange (TOCOM) rubber contract for September delivery finished 3.3 yen, or 1.6 percent, lower at 208.0 yen ($2) per kg. It earlier fell to as low as 206.7 yen, the lowest since March 11."The ...
Gold falls 1 pct as Yellen signals US rate hike on track SINGAPORE: Gold dropped for a second straight session on Monday, slipping further from a three-week high, as the dollar climbed after Federal Reserve Chair Janet Yellen signaled the U.S. central bank may be on course to raise interest rates later this year.Bullion may be set to give up recent gains fueled by the Fed's March policy statement that it was prepared to move more slowly in hiking U.S. rates than the market expected. The metal ...
Palm hits near 2-week low before reversing losses as exports eyed JAKARTA: Malaysian palm oil futures touched a near two-week low on Monday, before reversing losses to trade flat as traders positioned themselves ahead of export data due later this week.By the midday break, the benchmark June contract on the Bursa Malaysia Derivatives was little-changed at 2,170 ringgit ($584) a tonne. Prices earlier hit 2,143 ringgit, its lowest levels since March 18.Total traded volume stood at 12,584 lots of 25 tonnes, above the average 12,500 lots."The ...
Wheat rises for 2nd day on weather woes, soy up after losses SINGAPORE: Chicago wheat futures gained nearly 1 percent on Monday, rising for a second session as lack of rains in the U.S. grain belt over the weekend prompted investors to cover positions.Soybeans edged up, after dropping for four sessions, ahead of a U.S. Department of Agriculture report later this week on planting prospects, while corn remained under pressure from ample supplies and poor demand for U.S. cargoes.Chicago Board Of Trade May wheat rose almost 1 ...
Gold slips as Yellen signals US rate hike on track SINGAPORE: Gold dropped for a second straight session on Monday, slipping further from a three-week high, after Federal Reserve Chair Janet Yellen signaled that the U.S. central bank may be on course to raise interest rates later this year.Bullion may be set to give up recent gains fueled by the Fed's March policy statement that it was prepared to move more slowly in hiking U.S. rates than the market expected. The metal rose for seven ...

 



 
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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
WeeklyMarch 13, 2015
Reserves $16.273 bln