04292016Fri
Last update: Fri, 29 Apr 2016 03pm

Middle East & Africa

Markets - Commodities - Middle East & Africa

April Cameroon cocoa prices remain largely steady versus March YAOUNDE: Cocoa prices in Cameroon remained largely steady in April, ranging from 1300 CFA francs ($2.23) in the South-West region to 1600 CFA francs in the Centre.Joachim Landry Nanga Mevoa, the general director of the Cameroon agro-business cooperative (Camagrob), said the crop has not been good so far, partly because farmers have used non-approved pesticides.But Laurent Atangana, a cocoa producer, blamed buyers who purchase beans illegally before the crop has been dried or harvested, depressing the price for producers.Not all regions have been affected by stagnant prices and buyers have regularly purchased beans in the Centre area for prices higher than in other zones. Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Iraq issues tender to buy at least 50,000 tonnes of wheat PARIS: Iraq's state grains board has issued an international tender to buy at least 50,000 tonnes of wheat, traders said on Monday. The tender closes on May 8 and offers must remain valid up to May 12, they said.The wheat can be sourced optionally from the United States, Canada or Australia, they said.In its last reported purchase on April 15, Iraq's grain board bought 50,000 tonnes of wheat to be sourced from Australia.However, Iraq frequently ...

Markets - Commodities - Middle East & Africa

Egypt buys 57,000 tonnes of local wheat since start of season ABU DHABI: Egypt's Supply Ministry said on Sunday it had purchased 57,000 tonnes of local wheat from farmers since the start of the season on April 15. Egypt, the world's largest wheat importer, is planning to buy 4 million tonnes of Egyptian wheat in the local season which started on Friday. Farmers are being paid a fixed price of 420 Egyptian pounds ($47.30) per ardeb (150 kg) of wheat after abandoning plans to pay farmers ...

Markets - Commodities - Middle East & Africa

Egypt buys 10,000 tonnes local wheat in first five days of season CAIRO: Egypt has purchased 10,000 tonnes of wheat from farmers in the first five days of the local procurement season, the supply minister said on Tuesday.Egypt, the world's largest wheat importer, is planning to buy 4 million tonnes of Egyptian wheat in the local season which started on Friday.Farmers are being paid a fixed price of 420 Egyptian pounds ($47.30) per ardeb (150 kg) of wheat after abandoning plans to reform its wheat farmer subsidy ...

Markets - Commodities - Middle East & Africa

Jordan studying wheat import specification changes ABU DHABI: Jordan is studying changing the specifications and terms for importing wheat on the request of global suppliers, a government source told Reuters on Wednesday. "There are specialised committees that are studying the specifications and conditions upon the request of suppliers," the source said."It is possible that within two weeks this will be announced," he said.Jordan has been having trouble importing wheat and barley since late 2015 when new terms on quality control and ...

Markets - Commodities - Middle East & Africa

South Africa increases wheat import duty by 34pc JOHANNESBURG: South Africa's finance ministry said on Friday it had approved a 34 percent increase in the tariff on wheat imports to 1,224.31 rand per tonne from 911.20 rand per tonne."The Ministry of Finance is particularly concerned about the impact of the higher import duty on wheat on the price of bread and other staple food, but also mindful of the need to ensure policy certainty, food security and the financial health of the farming ...

Markets - Commodities - Middle East & Africa

Africa gold producers wary despite price rebound DAKAR: A steep rise in gold prices may have given hope to a battered mining industry in 2016, but after four tough years producers in Africa are still too wary to call the bad times over. Gold prices surged 15 percent in the first three months of 2016, the biggest quarterly rise in nearly 30 years, boosting miners' share prices, attracting new investment and promising to bolster the economies of gold-rich countries. Experts say the ...