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West European wheat exports struggle to match hefty supply PARIS: Wheat exporters in western Europe are struggling to shift a big harvest and may have to bide their time until buyers have scooped up cheaper eastern European supplies, traders and analysts said. The European Union's two largest wheat exporters, France and Germany, are used to being outpaced by Black Sea countries such as Russia in the opening months of the July-June marketing year. Export competition in 2015/16, however, has been exacerbated by shipments from the Baltic states. Stiff competition overseas could undermine the benefit of a good-quality harvest in France and leave it with smaller exports than last season, when it had a lower-quality crop but compensated with feed wheat sales to Asia. "The volume being shipped from France is not that bad. The problem is we had a record harvest and exports are not enough to balance supply," Alexandre Boy of consultancy Agritel said. French wheat exports outside ...

Gold, silver down on China's return from holiday, Fed minutes awaited LONDON: Gold retreated from a two-week high and silver slumped 3 percent on Thursday after Chinese market participants returned from a week-long holiday and sold the metals to lock in profits. Traders awaited minutes of the last Federal Reserve meeting. Spot gold eased 0.1 percent to $1,143.80 an ounce by 0952 GMT. The metal had climbed to $1,153.30 in the previous session, its highest since Sept. 24, due to a lower dollar. Silver fell as ...
Copper slides on fund selling as China worries mount LONDON: Copper slid on Thursday, pressured by fund selling as worries about slowing demand growth in China outweighed falling stocks and output cuts. Benchmark copper on the London Metal Exchange fell 1.1 percent to $5,130.5 a tonne by 0952 GMT. Prices were weighed down by renewed concerns about demand in China, which consumes nearly 50 percent of global copper. The impact of the Chinese economic slowdown was highlighted on Thursday by data showing that German ...
Gold slides on firmer dollar, equity rally LONDON: Gold slid lower on Wednesday, under pressure from a firmer dollar and a rally in equity markets but losses were capped by growing expectations that the Federal Reserve will delay raising interest rates until next year. Spot gold fell 0.3 percent to $1,142.90 an ounce by 1419 GMT, after earlier touching $1,152.90, its highest level since Sept. 24. Prices were weakened by gains in global equities, triggered by higher crude oil prices and an ...
Copper hits 2-week high on deficit forecast, rising oil LONDON: Copper hit a two-week high on Wednesday, driven by rising oil prices and an industry group's forecast for a deficit of the metal next year, although the overall demand outlook remained weak. The rise in oil prices made commodity basket funds that include copper more attractive and powered a rally in global equities, seen by some as a proxy for economic growth. The International Copper Study Group said late on Tuesday that it expects ...
Sugar eases, near 7-month high, cocoa rises LONDON: ICE raw sugar futures edged down on Wednesday, retreating from a seven-month peak touched earlier this week and pressured by risks that India could renew export subsidies. Cocoa futures rose on technical buying, with a strong pound triggering buying of the New York market, while worries over dry weather and political risk in top grower Ivory Coast underpinned prices. Coffee futures were little changed in light volumes.March raw sugar was down 0.05 cent, or ...
French July-Aug wheat exports outside EU up 24pc PARIS: French soft wheat exports outside the European Union reached 749,164 tonnes in August, led by shipments to top market Algeria, confirming a brisk start to the 2015/16 export season, customs data showed on Wednesday. The August volume took exports since the start of the season on July 1 to 1.43 million tonnes, 24 percent higher than in the year-earlier period, the data showed. However, traders say the strong activity in the opening weeks of ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 05, 2015
Reserves $18.349 bln