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Palm oil ends higher after chart support holds KUALA LUMPUR: Malaysian palm oil futures ended higher on Wednesday, reversing losses from the early session as a round of technical buying and short covering underpinned it, although a drop in crude oil prices and a stronger ringgit limited gains.The benchmark February contract on the Bursa Malaysia Derivatives Exchange had inched up 1 percent to 2,239 ringgit ($668) per tonne by the day's close, recovering from a decline of as much as 0.5 percent in early trade.Total traded volume stood at 49,731 lots of 25 tonnes, above the usual 35,000 lots."Prices could not close below 2,190 ringgit in yesterday's trade so it pulled up. After testing that support level, prices should move higher to test the resistance between 2,280-2,300 ringgit," said a trader with a foreign commodities brokerage in Kuala Lumpur."Fundamentally, there's no real push - it's all technical."The rise, however, was limited to futures prices while spot month prices ...

Bangladesh issues tender to import 50,000 tonnes of wheat DHAKA: Bangladesh's state grains buyer issued a new international tender on Wednesday to import 50,000 tonnes of wheat as part of an effort to boost reserves, a procurement official said.Optional origin of supply was sought with shipment within 40 days after contract signing. The tender closing date is Dec. 14.This is the second international wheat purchase tender issued by Bangladesh since the current financial year started in July.The state grains purchasing agency plans to import ...
US soybeans rise on strong demand, slow farmer sales SINGAPORE/PARIS: Chicago soybean futures ticked higher on Tuesday as Chinese demand and slower sales by U.S. farmers offset supply pressure from a record U.S. crop and improving planting conditions in South America.Corn was almost flat as the market weighed restrained farmer selling against less promising exports than for soybeans. Wheat eased as sluggish exports cushioned concerns about cold weather stress to crops in United States.Chicago Board of Trade January soybeans rose 0.8 percent to $10.42 ...
NY coffee to test support at $1.8915 SINGAPORE: New York March coffee is expected to test a support at $1.8915 per lb, a break below which will lead to a further loss to $1.8760.The high volatility on Nov. 24 indicates the correction from the Nov. 19 high of $2.0135 has not completed. Three waves may make up the correction, with the current wave c unfolding towards $1.8760, the 86.4 percent Fibonacci retracement on the rise from the Nov. 10 low of $1.8540 ...
Vietnam Coffee: Prices gain despite harvest peak HANOI: Vietnamese coffee prices edged up this week even though harvesting was in full swing, tracking global prices higher after forecasts of a smaller crop in Vietnam and a global deficit in the current 2014/2015 crop year. Trading was active as supply rose, with at least a third of the crop harvested in the world's largest robusta producer, traders said on Tuesday. Robusta stood at 41,300-41,400 dong ($1.93-$1.94) per kg on Tuesday in Daklak, Vietnam's ...
NY cocoa may break resistance at $2,863 SINGAPORE: New York March cocoa may break a resistance at $2,863 per tonne and rise further, as it has briefly pierced above this level. The resistance is provided by the 14.6 percent Fibonacci retracement on the fall from the Sept. 25 high of $3,349 to the Nov. 13 low of $2,780. The next resistance will be at $2,914, the 23.6 percent retracement. Strategically, a surge above the Nov. 24 high of $2,878 could confirm a ...
India cotton supply down 19pc y/y as prices drop MUMBAI: Cotton supplies from the new crop in India, the world's second-largest producer of the fibre, have fallen 19 percent so far in the current season that began on October 1, said B. K. Mishra, managing director of the state-run Cotton Corporation of India. In the spot markets so far farmers have brought in around 3.9 million bales of 170 kg each, down from 4.8 million bales during the same period a year earlier, Mishra ...


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Banking Review 2013

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