08292016Mon
Last update: Mon, 29 Aug 2016 01am

Asia

Markets - Commodities - Asia

Palm rises on tight supplies to notch up strongest gains in over 10 months KUALA LUMPUR: Malaysian palm oil futures notched up their strongest gains in over 10 months, closing more than 4 percent higher on Wednesday, as tight supplies lent support to the market.A stronger ringgit and a technical correction led palm to snap two consecutive days of gains in its previous session, having earlier climbed to a 10-week high tracking firmer exports and rival oils.A stronger ringgit, palm's traded currency, usually makes the vegetable oil more expensive for foreign currency holders.Benchmark palm oil futures for October on the Bursa Malaysia Derivatives Exchange rose 4.1 percent to 2,643 ringgit ($659) per tonne at the end of the trading day, charting a third session of gains in four.It earlier reached an intraday high of 2,668 ringgit, its strongest gain since last Sept. 25 and its highest levels since June 7.Traded volumes stood at 76,039 lots of 25 tonnes each on Tuesday evening, surpassing the ...

Markets - Commodities - Asia

Bangladesh tea prices rise for third week on demand for quality leaf  DHAKA: Tea prices in Bangladesh rose for a third straight week at the weekly auction on Tuesday, on strong demand for quality leaf despite a higher volume on offer.Bangladesh tea fetched an average of 225.69 taka ($2.8) per kg at the auction, the 16th of the new marketing season, compared with 222.37 taka in the previous sale.There was robust demand for quality tea and buyers were ready to pay premiums that helped gains in prices ...

Markets - Commodities - Asia

Palm rises on tight supplies, on track for third gain in four KUALA LUMPUR: Malaysian palm oil futures rose in early trade on Wednesday, on track for a third winning session in four, as tight supplies lent support to the market.A stronger ringgit and a technical correction led palm to snap two consecutive days of gains in its previous session, having earlier climbed to a 10-week high tracking firmer exports and rival oils.A stronger ringgit, palm's traded currency, usually makes the vegetable oil more expensive for foreign ...

Markets - Commodities - Asia

Vietnam Coffee-Slow sales as buyers seek Indonesian beans, rains eyed HANOI: Vietnamese coffee sales have been moderate and could slow in coming days as buyers sought freshly harvested beans in rival robusta producer Indonesia, traders said on Tuesday.Traders were also keeping an eye on potentially stormy weather in coming weeks, which could threaten the harvest of Vietnam's next 2016/2017 crop due to start in October. The Southeast Asian nation is the world's top robusta producer."Indonesia has been selling strongly, with coffee committed even for November ...

Markets - Commodities - Asia

TOCOM slides from three-week high on yen's gain TOKYO: Benchmark Tokyo rubber futures ended lower on Tuesday, sliding from a fresh three-week high, hit earlier in the session, as a surge in yen against the U.S. dollar dampened sentiment and prompted profit-taking, dealers said.The Tokyo Commodity Exchange (TOCOM) rubber contract for January delivery ended down 1.8 yen, or 1.1 percent, at 157.1 yen ($1.57) per kg, after hitting a high of 160.2 yen, the highest since July 25.The TOCOM futures, which set the ...

Markets - Commodities - Asia

Palm oil falls from 10-week top on profit taking, ringgit strength KUALA LUMPUR: Malaysian palm oil futures fell from a 10-week high on Tuesday as investors cashed in on the recent strength in prices and the ringgit rose, limiting demand for futures.A stronger ringgit usually makes palm oil more expensive for foreign currency holders, as the ringgit is palm's traded currency.Palm climbed to its highest since June 7 in the previous session, recording its strongest gains in nearly a year on the back of higher export ...

Markets - Commodities - Asia

Vietnam's July coffee exports fall from June to 139,800 T: customs HANOI: Vietnam, the world's top robusta producer, exported 139,800 tonnes (2.33 million 60-kg bags) of coffee in July, down 11.8 percent from the previous month, the customs department said on Monday, below market expectations.That raises Vietnam's coffee exports between October 2015 and July this year, the first 10 months of the 2015/2016 crop year, to 1.46 million tonnes, up 31.5 percent from a year ago, based on government statistics.Traders had forecast coffee shipments in July ...