01172017Tue
Last update: Tue, 17 Jan 2017 07am

Asia

Markets - Commodities - Asia

Japan to import 6,700 tonnes of feed wheat via tender TOKYO: Japan's Ministry of Agriculture said it would import 6,700 tonnes of feed-quality wheat for livestock use via a simultaneous buy and sell (SBS) auction that closed late on Wednesday.The ministry had sought 120,000 tonnes of feed wheat and 200,000 tonnes of feed barley to be loaded by Feb. 3, 2017 and arrive in Japan by March 3, in the tender that is usually conducted weekly. It will skip a tender for at least the next two weeks due to end-year and new year holidays, a ministry official said.Japan buys and sells its feed wheat and barley via so-called SBS auctions, in which end-users and importers specify the origin, price and quantity of grain, allowing millers to meet their varied needs for the feed grain.The ministry, which had halted its SBS auction since the middle of October, has resumed the auction this week after the system was revised to improve ...

Markets - Commodities - Asia

Palm rebounded from three-day fall as traders cover position KUALA LUMPUR: Malaysian palm oil futures edged up on Wednesday, breaking a three-day losing streak as traders look to square their positions ahead of the holidays.Benchmark palm oil futures for March delivery rose 0.65 percent on the Bursa Malaysia Derivatives Exchange to 3,113 ringgit ($695.33) a tonne by the midday break.Traded volumes stood at 32,451 lots of 25 tonnes each.A trader based in Kuala Lumpur said the market was covering its position in anticipation of ...

Markets - Commodities - Asia

TOCOM ends up 1.6pc on firm Shanghai futures TOKYO: Benchmark Tokyo rubber futures ended up 1.6 percent on Wednesday as investors bought back after two days of declines, supported by gains in Shanghai futures.Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, were also supported by gains in oil prices on expectations of a U.S. crude inventory draw, but trading was slow ahead of year-end holidays, dealers said.The benchmark TOCOM rubber contract for May delivery finished ...

Markets - Commodities - Asia

India's natural rubber imports jump 22.4pc y/y in Nov MUMBAI: India's natural rubber imports in November jumped 22.4 percent from a year ago to 43,123 tonnes, even as production rose 19 percent, the state-run Rubber Board said in a statement on Wednesday.The country's production stood at 63,000 tonnes in the month, up from 53,000 tonnes a year ago. India's natural rubber consumption rose 13 percent to 88,000 tonnes, it said.India imports natural rubber mainly from Thailand, Indonesia, Vietnam and Malaysia.Copyright Reuters, 2016 ...

Markets - Commodities - Asia

Bangladesh tea prices steady on demand for good grade  DHAKA: Tea prices in Bangladesh were largely flat at the weekly auction on Tuesday on strong demand for good varieties after a steep drop in prices in the previous auction.Bangladeshi tea fetched an average of 178.36 taka ($2.50) per kg at the auction, compared with 178.56 taka in the previous sale.Competition for bright liquoring varieties aided the sale, the National Brokers said in a market report.About 35.7 percent of the 3 million kg offered at ...

Markets - Commodities - Asia

Gold prices firm as dollar slips from 14-year high BENGALURU: Gold rose on Wednesday to reverse earlier losses, with the US dollar edging away from 14-year highs touched the day before.Spot gold was up 0.4 percent at $1,135.83 an ounce by 0621 GMT. It fell 0.6 percent in the previous session.US gold futures were also 0.4-percent higher, at $1,138.10 per ounce."We are seeing quite a lot of volatility. It is driven by the direction of the US dollar. (Gold) is just marking time before ...

Markets - Commodities - Asia

London copper eases further from 1-month low on demand hopes MELBOURNE: London copper on Wednesday climbed further away from a one-month low hit earlier in the week, with investors betting that stronger U.S. and China economies next year would bolster demand for industrial metals.Chinese metal exports fell in November, with its copper shipments at the lowest since January and its aluminium exports declining by 15 percent from a year ago, customs data showed on Wednesday."Looking ahead, weak seasonality towards year-end (e.g. market quietness and wait ...