05242016Tue
Last update: Tue, 24 May 2016 04pm

Asia

Markets - Commodities - Asia

Bangladesh tea prices rise amid tight supply  DHAKA: Tea prices in Bangladesh rose at the weekly auction on Tuesday due to availability of good quality leaf amid a drop in supplies, brokers said.Bangladeshi tea fetched an average of 199.95 taka ($2.50) per kg at the auction, the fourth of the new marketing season, up from 194.85 taka at the previous sale.About 1.08 million kg was offered at the sole auction centre in Chittagong, of which 2.5 percent was unsold. In the previous auction, about 4.3 percent of 1.30 million kg remained 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

Indian soybean drops on profit-taking, lower demand NEW DELHI: Indian soybean prices dropped on Tuesday on profit-taking and due to lower demand as Indian imports of vegetable oil continue to surge. The June soybean contract on the National Commodity & Derivatives Exchange fell 0.67 percent to 3,988 rupees ($59.72) per 100 kg. India imported 1.24 million tonnes of vegetable oil in April, 12 percent higher than in the same period a year earlier, according to a leading trade body. The June rapeseed ...

Markets - Commodities - Asia

TOCOM ends higher as Shanghai futures hold steady TOKYO: Benchmark Tokyo rubber futures ended slightly higher on Tuesday, snapping a 6 percent drop posted over the past two sessions, as Shanghai futures steadied on the back of firm oil prices.The U.S. dollar strengthened to around 109.47 yen from 108.95 yen in early morning trade, which also helped support market sentiment.Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, touched a two-month low in early Tuesday trade ...

Markets - Commodities - Asia

Thai rice price hits 2-year high as drought hurts Asian output: traders BANGKOK: Benchmark Thai rice prices hit a two-year high on Tuesday as drought cut output from Asia's top rice growers and stoked demand for Thai exports, rice traders and exporters said.Prices are at their highest level since the Thai military seized power two years ago and ended generous subsidies that caused a glut in supply and a massive build-up in rice stockpiles in Thailand.Rising prices will be good news for the junta, whose lack of ...

Markets - Commodities - Asia

Corn eases from two-week top on positive US planting progress SINGAPORE: Chicago corn futures slid on Tuesday, falling from last session's two week high as the above-average pace of planting across the US Midwest anchored prices.Soybeans rose after closing lower for the last four sessions while wheat was flat although still pressured by the stable condition of the US hard red winter wheat crop.The Chicago Board of Trade's most active corn contract fell 0.1 percent to $3.93-1/2 a bushel by 1107 GMT, after hitting a ...

Markets - Commodities - Asia

Palm oil gains as demand picks up ahead of Muslim festival KUALA LUMPUR: Malaysian benchmark palm oil futures rose on Tuesday, overcoming a stronger ringgit , as demand for the tropical oil ahead of the Muslim festival of Ramadan pushed up prices.Demand for palm oil usually comes in one to two months before Ramadan, which begins in early June this year. The Muslim festival is a month of fasting and feasting, which sees higher demand for palm oil used in cooking, leading up to Eid.The new ...

Markets - Commodities - Asia

India coffee output to fall to lowest in two-decades MUMBAI: India's coffee output in the next crop year is expected to drop by around a quarter to the lowest in nearly two decades as poor rains and hot temperatures hit plantations during the crucial flowering stage, the head of an industry body said. The Asian country is the world's sixth-biggest coffee producer, although is well behind leaders Brazil and Vietnam.Nonetheless, lower production from India could provide more support to global prices , already surging ...