02142016Sun
Last update: Sun, 14 Feb 2016 10pm

Asia

Markets - Commodities - Asia

Indian sugar mills shut early as drought trims cane supply MUMBAI: Sugar mills in the western Indian state of Maharashtra, which typically operate over November to April, have started closing down earlier than usual as the first back-to-back drought in nearly three decades hit cane supplies in the country. Early closure of mills in the top sugar producing state indicates the country's total output and exports this year could come under pressure, underpinning global prices of the sweetener that are trading near a four-month low. India is the world's No.2 sugar producer after Brazil. "Already 13 mills have closed operations due to cane shortage and most mills will stop crushing by end-March," said Sanjeev Babar, managing director of Maharashtra State Co-operative Sugar Factories Federation. Usually mills crush for six months to April, before shutting for the monsoon and festival season that together last from June to October. But currently a lack of cane supply is hurting operations. "This year vegetative ...

Markets - Commodities - Asia

Taiwan buys 41,300 tonnes wheat of US: origin in tender HAMBURG: The Taiwan Flour Millers' Association has purchased 41,300 tonnes of milling wheat to be sourced from the United States in a tender which closed on Wednesday, European traders said.The wheat was for shipment in April, they said.Copyright Reuters, 2016 ...

Markets - Commodities - Asia

Bangladesh to seek 50,000 tonnes wheat in tender next week DHAKA: Bangladesh's state grain buyer will issue an international tender next week to import 50,000 tonnes of milling wheat, an official with the government agency said on Tuesday. "Most probably, the tender will be issued next week," the official at the Directorate General of Food, the state grains buyer, said.The tender will be the fourth issued by the state grains buyer since the current financial year started in July.Phoenix Commodities is supplying 50,000 tonnes Russian ...

Markets - Commodities - Asia

China govt has not yet decided on tin stockpiling -Yunnan Tin HONG KONG: Major tin producers in China and the industry body, China Nonferrous Metals Industry Association, are still asking the government to stockpile the metal and so far there has been no decision, a spokesman of the biggest producer Yunnan Tin Co Ltd said on Monday.Last month, nine producers proposed the government boost state stockpiling of tin, saying prices had fallen too far to reflect industry fundamentals.Copyright Reuters, 2016 ...

Markets - Commodities - Asia

Gold extends gains as China stocks slip on weak PMI MANILA: Gold advanced at the start of the month on Monday, extending gains after ending January with its biggest monthly jump in a year, as poor Chinese manufacturing numbers underlined the weak outlook for the global economy.China's stocks fell after an official measure of manufacturing in the world's No. 2 economy hit its lowest since mid-2012.Inflows into the world's largest gold-backed exchange-traded fund were the strongest in a year last month as investors moved into ...

Markets - Commodities - Asia

Indian sugar mills lined up to sell 1 mn tonnes: trade body DUBAI: Indian sugar mills have been contracted to sell one million tonnes of sugar in the 2015/2016 season and another million tonnes are expected to be lined up, the president of an industry body said on Monday."One million tonnes have been contracted and another one million tonnes will be contracted," Tarun Sawhney, President of the Indian Sugar Mills Association told a conference in Dubai.Sawhney also said domestic sugar production would reach 26 million tonnes in ...

Markets - Commodities - Asia

Gold extends gains as China stocks slip on weak PMI MANILA: Gold advanced at the start of the month on Monday, extending gains after ending January with its biggest monthly jump in a year, as poor Chinese manufacturing numbers underlined the weak outlook for the global economy. China's stocks fell after an official measure of manufacturing in the world's No. 2 economy hit its lowest since mid-2012.Inflows into the world's largest gold-backed exchange-traded fund were the strongest in a year last month as investors moved ...