08292016Mon
Last update: Mon, 29 Aug 2016 10pm

Asia

Markets - Commodities - Asia

Asia Rice-Prices ease as high supply counters Philippine purchase plan HANOI: Asian rice export prices dropped this week on soft demand among African buyers and rising supply, despite the Philippines' plan for a fresh purchase this quarter, traders said on Wednesday. The Philippines, one of the world's biggest rice importers, plans to buy 250,000 tonnes of its food staple from either Vietnam, Thailand or Cambodia, with deliveries slated within the current quarter.There's no clear date for the Manila tender and it's uncertain whether bulk of the supply can come from Vietnam, said a trader at a foreign firm in Ho Chi Minh City."While overall buying demand is weak, so prices are still stable," the trader said.The 5-percent broken, summer-autumn rice slipped to $355 a tonne, free-on-board (FOB), from $360-$365 a week ago, while 25-percent broken rice, often sought by the Philippines, was unchanged at $335-$340 a tonne.Buyers in Africa were waiting for Thailand's next rice auction, which could offer cheap ...

Markets - Commodities - Asia

TOCOM falls for second day on stronger yen TOKYO: Benchmark Tokyo rubber futures fell for a second straight session on Wednesday, pressured by a stronger yen, but trading volumes were light with many traders and investors away on summer holidays. The Tokyo Commodity Exchange (TOCOM) rubber contract for January delivery finished 0.8 yen, or 0.5 percent, lower at 152.6 yen ($1.50) per kg."A stronger yen prompted some selling in the morning while weaker Shanghai stock market and Shanghai rubber futures also added to ...

Markets - Commodities - Asia

Bangladesh tea prices rise for second week on demand for quality leaf DHAKA: Tea prices in Bangladesh rose for a second straight week at the weekly auction on Tuesday, on robust demand for quality leaf amid tight supplies.Bangladesh tea fetched an average of 222.37 taka ($2.8) per kg at the auction, the 15th of the new marketing season, compared with 214.73 taka in the previous sale.There was strong demand for quality tea and buyers were ready to pay premiums that aided gains in both prices and sales ...

Markets - Commodities - Asia

Malaysia's end-July palm stocks fall 0.2pc KUALA LUMPUR: Palm oil inventories in Malaysia recorded a surprise fall at end-July, with stock levels dipping as a surge in exports - mainly to China - outweighed a seasonal gain in output.The decline could help support benchmark palm oil prices , which surged to a two-month high this week on tighter supplies before easing 0.9 percent in early trade on Wednesday to 2,445 ringgit per tonne at the midday break.Palm oil stockpiles in Malaysia, ...

Markets - Commodities - Asia

TOCOM slides nearly 2pc on selling by speculators TOKYO: Benchmark Tokyo rubber futures fell nearly two percent on Tuesday, erasing gains earlier in the day that boosted it to a 10-day high, as some speculators suddenly unwound long positions in Shanghai futures, which also triggered a selloff in Tokyo."Some speculators placed large sell orders at Shanghai in a late morning trade, quickly followed by big chunk of sell orders at the TOCOM," a Tokyo-based dealer said."There were not any fundamental reasons to sell. ...

Markets - Commodities - Asia

Palm oil rises to two-month high as supply tightens KUALA LUMPUR: Malaysian palm oil futures surged to the highest levels in two months on tight physical supplies of the tropical oil and as competing vegetable oils on China's Dalian Commodity Exchange also gained.Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange rose 1.1 percent to 2,466 ringgit ($612) per tonne at the midday break.Palm earlier rose to an intraday high of 2,475 ringgit, its highest levels since June 15, and ...

Markets - Commodities - Asia

India's June tea output jumps 15pc y/y MUMBAI: Tea production in India jumped 15 percent to 144.11 million kg in June from a year earlier, the state-run Tea Board said on Monday, as ample rainfall boosted output in the top producing north-eastern state of Assam. Production in Assam rose 16 percent to 73.14 million kg from a year earlier, the Board said in a statement. India, the world's second biggest tea producer, exports CTC (crush-tear-curl) grade mainly to Egypt, Pakistan and the ...