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Palm down more as Malaysian exports weaken JAKARTA: Malaysian palm oil weakened further on Thursday after export data from the world's second-largest producer and declines in competing bean oil markets weighed on prices, but a weaker ringgit provided some support."The weak ringgit, that would encourage exports, but the first 20 days export figure came out and it's not what was expected, it was down," said a trader with a foreign commodities brockerage in Kuala Lumpar.Exports of Malaysian palm oil products for Nov. 1-20 fell 6.4 percent to 837,659 tonnes from 894,697 tonnes for Oct. 1-20, cargo surveyor Intertek Testing Services said on Thursday. The ringgit continued its decline, edging down 0.18 percent on Thursday, and has lost 6.8 percent against the dollar since the beginning of September. A weaker ringgit makes palm oil more attractive to international buyers.The benchmark February contract on the Bursa Malaysia Derivatives Exchange ended down 0.98 percent on Thursday at 2,223 ringgit ($660.62) ...

Asian rubber producers agree to manage exports to fight oversupply KUALA LUMPUR/SINGAPORE: Top Asian rubber producers have agreed to "manage" exports to international markets to curb excess supply, although analysts said the step would have little impact on battered prices without a robust pickup in demand.Benchmark rubber prices have fallen a quarter this year, standing just above five-year lows plumbed last month amid a supply glut deepened by a slowing economy in top consumer China.Thailand, Indonesia and Malaysia, which produce nearly 70 percent of the ...
Great apes facing 'direct threat' from palm oil farming KUALA LUMPUR: The destruction of rainforests in Southeast Asia and increasingly in Africa to make way for palm oil cultivation is a "direct threat" to the survival of great apes such as the orangutan, environmentalists warned Thursday. They said tropical forests were continuing to tumble at a rapid rate, with palm plantations a key driver, despite a decade-old drive by the industry's Roundtable on Sustainable Palm Oil (RSPO) to encourage sustainable cultivation.The concerns were voiced ...
India yet to take call on extending sugar export sops NEW DELHI: India is yet to take a call on extending sops for overseas sale of sugar in the 2014/15 season, Food Minister Ram Vilas Paswan said on Thursday.The minister also said mills owed about 43 billion rupees ($692 million) to cane growers for the last season ended Sept. 30.Sugar season in India, the world's second biggest producer after Brazil, runs from October to September.Copyright Reuters, 2014 ...
Palm snaps near-3-day gain on weaker veg oils, profit taking JAKARTA: Malaysian palm oil edged down on Wednesday, tracking declines in competing vegetable oil markets as traders took profits, but supported by weakness in the ringgit.The benchmark February palm oil contract on the Bursa Malaysia Derivatives Exchange ended down 0.3 percent at 2,245 ringgit ($668) per tonne. The contract is up 1.9 percent so far this week.Total traded volume on Wednesday stood at 34,564 lots of 25 tonnes, just below the average 35,000 lots."One hour ...
India trade body asks members to curb gold coin sales MUMBAI: India's largest gems and jewellery federation has proposed its members curb sales of gold coins and bars in an effort to prevent the government from imposing import restrictions on gold after an increase in inbound shipments.India, the world's second-largest gold buyer, is likely to announce some new measures to rein in gold imports which might include restrictions on a group of private trading firms.Officials from the finance ministry and Reserve Bank of India (RBI) ...
South Korea's KOCOPIA buys about 55,000 tonnes optional-origin HAMBURG: South Korea's Korea Corn Processing Industry Association (KOCOPIA) purchased about 55,000 tonnes of corn which can be sourced from any worldwide origin in a tender for the same volume which closed on Wednesday, European traders said.Price was $224.35 a tonne c&f, they said. The tender had sought arrival at the South Korean ports of Incheon or Kunsan by Mar. 25, 2015.Copyright Reuters, 2014 ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln