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Palm posts first weekly gain in 4 weeks KUALA LUMPUR: Malaysian palm oil futures ended higher on Friday, recouping losses, to post their first weekly gain since mid-March, helped by optimism that a recovery in demand and tighter stocks in the world's No.2 producer will underpin prices.Market participants are anticipating demand to trickle in from April as buyers begin to restock ahead of the Muslim fasting month of Ramadan and the Eid al-Fitr festival, which typically drive up consumption of the tropical oil.The Islamic holy month starts late June this year."Investors foresee that palm will have better demand in the coming months," said a trader with a foreign commodities brokerage in Kuala Lumpur."People should start buying for their Ramadan requirement ... export numbers for the first ten days (of April) look brighter."The benchmark June contract on the Bursa Malaysia Derivatives Exchange inched up about 1 percent to 2,659 ringgit ($811) per tonne by Friday's close.Benchmark palm prices are ...

Indonesia's 2014 coffee exports seen up 8pc y/y JAKARTA: Indonesia's coffee exports are forecast to rise 8 percent to up to 575,000 tonnes this year, the Indonesia Coffee Exporters Association (GAEKI) said on Friday, as sellers take advantage of strong global prices. Indonesia, the world's second largest robusta producer, will export 550,000 tonnes to 575,000 tonnes in 2014, up from 530,000 tonnes last year, Hutama Sugandhi, chairman of GAEKI told Reuters. "This is mainly because global coffee prices are estimated to increase so ...
China to close nearly two thousand small coal mines BEIJING: China will close 1,725 small-scale mines with a total capacity of 117.48 million tonnes in 2014 as part of its programme to phase out low-quality coal production, its energy administration said on Friday. Smog-hit China has been desperate to reduce coal consumption, a major source of pollutants, including hazardous airborne particulate matter in the country's cities. Beijing hopes to close old and depleting mines in the east and consolidate output in a series of ...
CBOT corn faces resistance at $5.14-1/2 SINGAPORE: CBOT May corn faces resistance at $5.14-1/2 per bushel and may hover below this level for a trading session or retrace towards $4.81.Resistance is at the 38.2 percent Fibonacci retracement on the fall from a downtrend that fell from the Sept. 6, 2012 high of $6.76-1/2 to the Jan. 10 low of $4.14-1/2.A break above $5.14-1/2 may not cause any impressive gain, as it could most likely be limited to $5.22, the 61.8 percent ...
CBOT wheat to drop to $6.58-1/2 SINGAPORE: CBOT May wheat is expected to fall to $6.58-1/2 per bushel, as it may break a support at $6.83-1/2.The support is provided by the 23.6 percent Fibonacci retracement on the rise from the Jan. 30 low of $5.53-1/2 to the March 20 high of $7.23-1/2. The next support will be at $6.58-1/2, the 38.2 percent level.The triangle that formed from March 20 to March 31 has been confirmed as a bearish pattern, which is ...
Iron ore at one-month high, firmer steel market spurs buyers SINGAPORE: Spot iron ore prices climbed to their highest in a month as a firmer steel market in top consumer China helped ease cash flow worries among mills, prodding them to buy the raw material.Iron ore has recovered more than 12 percent since falling to a 17-month low of $104.70 a tonne in early March, but further gains depend on whether Chinese steel demand picks up even more during the seasonally strong month of April ...
India's Oct-March sugar output down 7pc y/y NEW DELHI: Indian sugar mills produced 21.5 million tonnes of the sweetener in the first half of the 2013/14 season that started on Oct. 1, down 7 percent from a year ago, a producers' body said on Wednesday. India, the world's biggest producer after Brazil, gave a subsidy for raw sugar output to tackle a huge surplus of the refined variant, in a move that is likely to boost Indian exports of raws and put ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln