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India's sugar export rebound at risk from rising domestic prices MUMBAI: Sugar prices in India are firming on fears of short-term supply constraints and seasonal demand even as global prices are sliding, posing a threat to a recent recovery in exports from the world's second-biggest producer of the sweetener. A raised sugar import duty in India, festival demand and an expected delay in cane crushing in a key producing state have helped push domestic prices to a $70 a tonne premium to international prices, making it more lucrative to sell domestically. A year ago the premium was just $20 a tonne. Lower exports from India could provide short-term support to global sugar prices that hit a seven-month low on Monday and give leading sugar exporters such as Brazil and Thailand an opportunity to take more of the market.India last week raised the import duty on the sweetener to 25 percent from 15 percent to help mills, which are struggling with ...

NY sugar to test resistance at 15.96 cents SINGAPORE: New York October sugar is expected to test resistance at 15.96 cents per lb, a break above which will lead to a further gain to 16.27 cents.The resistance is provided by the 50 percent Fibonacci projection level of a downward wave c that started from the Aug. 4 high of 17.26 cents.This wave is presumed to be the third of a three-wave cycle that fell from the June 23 high of 18.81 cents. The ...
NY coffee to test resistance at $2.0120 SINGAPORE: New York December coffee is expected to gain more to $2.0120 per lb as it has cleared a resistance at $1.9420.The resistance was at the 23.6 percent Fibonacci projection level of a presumed wave C that started at the Aug. 20 low of $1.8285. This wave is capable of traveling to $2.1250, its 61.8 percent projection level.A break above $2.0120 will open the way towards $2.0685, the 50 percent projection level.The former resistance at ...
Palm edges up, lifted by gains in soy markets KUALA LUMPUR: Malaysian palm oil futures rose to a near one-week high on Wednesday, lifted by gains in overseas soy markets and a round of technical correction, although anxiety about swelling supplies of global edible oils curbed the rebound.The US soyoil contract for December rose 1 percent in early Asian trade, while the most active January soybean oil contract on the Dalian Commodities Exchange climbed 1.6 percent. Palm typically tracks soyoil, a common food and ...
CBOT soybeans to rise more to $10.41-1/2 SINGAPORE: CBOT soybeans November contract is expected to test a resistance at $10.41-1/2 per bushel, a break above which will lead to a further gain to $10.50-1/2.The support is at the 76.4 percent Fibonacci projection level of a downward wave 3, which started at the Aug. 11 high of $10.89-1/4. The bullish divergence on the hourly RSI suggests a completion of this wave, which will be reversed further by the current wave 4.An immediate target ...
Gold drifts higher; firm dollar and equities limit upside SINGAPORE: Gold edged higher on Wednesday, its third day of gains in four, but a lack of buying support from Asia, a strong US dollar and firmer equities due to hopes of more stimulus from the European Central Bank are expected to check any big upside for the metal. Bullion has struggled in August to decisively break above the psychological level of $1,300 an ounce as speculation grew about an earlier than expected increase in ...
CBOT corn to rise into $3.58-1/2 to $3.60 range SINGAPORE: CBOT September corn is expected to rise into a range of $3.58-1/2 to $3.60 per bushel, as it could have completed a correction from the Aug. 18 high of $3.70.The correction has been labelled as a wave B, the second wave of a three-wave cycle that developed from the Aug. 12 low of $3.47-3/4. This wave consists of three small waves labelled a, b, c, with the wave a and the wave c sharing ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln