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Asia

Markets - Commodities - Asia

TOCOM ends down 1.2pc, follows oil lower TOKYO: Benchmark Tokyo rubber futures ended down 1.2 percent on Tuesday, extending declines, weighed down by losses in global crude prices.Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, also came under pressure from profit-taking after the February contract expired on Monday, dealers said.Brent oil prices extended declines on Tuesday, following a 2-percent slide in the previous session, amid oversupply worries.Market participants are closely watching the outcome of a planned meeting by producers, including Thailand, Indonesia and Malaysia, this week to discuss measures to support prices.Producers may discuss a range of issues including possibly trying to rein in existing rubber planting areas to curb production, some industry sources said, though it remained unclear if any concrete measure that would substantially raise rubber prices would be agreed."It would be pragmatic to not plant rubber after maturing trees are cut out," said a source with ...

Markets - Commodities - Asia

India's 2014 tea exports fall 8.1pc MUMBAI: India's tea exports in 2014 fell 8.1 percent from a year earlier to 201.23 million kg due to poor demand from Bangladesh and Iran, the state run Tea Board said in a statement.The country's exports to Bangladesh halved on year to 5.86 million kg, while exports to Iran stood at 18.03 million kg, down 22 percent.In value terms India's exports dropped 13.5 percent from a year earlier to $643.75 million in 2014.India, the world's ...

Markets - Commodities - Asia

Gold treads water as Greek talks eyed; set for fourth weekly drop SINGAPORE: Gold was little changed on Friday as investors eyed talks over Greek debt, but the metal was headed for its fourth straight weekly dip as a last-minute deal was expected to break the impasse over the Mediterranean country's bailout programme.Spot gold was steady at $1,206.41 an ounce, after dropping 0.5 percent in the previous session. The metal has lost 1.8 percent for the week so far, also dipping below the key $1,200 level briefly ...

Markets - Commodities - Asia

Copper eyes flat week with China buyers out MELBOURNE: London copper edged lower on Friday, after a US labour report boosted the dollar, with prices set to close the week little changed amid the Lunar New Year holiday in top consumer China."We'll probably have to wait until after Chinese New Year to really get a sense of how things are going on the ground in China," said analyst James Glenn of National Australia Bank in Melbourne. "We're looking at slowing demand growth for ...

Markets - Commodities - Asia

India approves incentives for raw sugar exports NEW DELHI: India approved a plan on Thursday to provide 4,000 rupees ($64) a tonne of subsidy to mills for production and exports of up to 1.4 million tonnes of raw sugar, a government official told reporters.The official declined to named as he was not authorised to speak to media.India, the world's biggest producer behind Brazil, helped its mills with incentives of 3,300 rupees a tonne in the last sugar season that ended in September ...

Markets - Commodities - Asia

India's gold imports set to rise as RBI eases curbs ahead of budget MUMBAI/SINGAPORE: Gold imports to top consumer India are set to jump in coming months after the central bank eased gold import curbs, ahead of an expected cut in import duty in next week's federal budget.The Reserve Bank of India said on Wednesday banks would again be allowed to import gold on a "consignment basis", under which they act as intermediaries and don't pay for the stock until a buyer has been found, which is usually ...

Markets - Commodities - Asia

Bangladesh tenders to export 75,000 tonnes of sugar to EU DHAKA: Bangladesh Sugar and Food Industries Corp has issued an international tender to export 75,000 tonnes of sugar to the European Union as the state agency has huge stocks of the sweetener.The tender will close on March 10, Harun Mia, chief purchasing officer of the state agency, said on Thursday.The state agency typically imports white sugar to build its reserves, but a bumper output and high stocks allowed it to export.Copyright Reuters, 2015 ...