Middle East & Africa Stay updated with Business News, Pakistan news, Current world news and latest world news with Business Recorder.. http://www.brecorder.com/markets/commodities/middle-east-a-africa.html Sat, 31 Jan 2015 21:05:12 +0000 SRA Framework 2.0 en-gb Saudi Arabia says seeks 660,000 tonnes of wheat in tender http://www.brecorder.com/markets/commodities/middle-east-a-africa/220686-saudi-arabia-says-seeks-660000-tonnes-of-wheat-in-tender.html http://www.brecorder.com/markets/commodities/middle-east-a-africa/220686-saudi-arabia-says-seeks-660000-tonnes-of-wheat-in-tender.html imageABU DHABI: Saudi Arabia's state grain buyer, the Grain Silos and Flour Mills Organization (GSFMO), said on Thursday it was seeking 660,000 tonnes of hard wheat in a tender.

The wheat, with 12.5 percent protein content, is for shipment during April and May, GSFMO said in a statement.

The wheat will be purchased in shipments of 55,000 tonnes with a total 330,000 tonnes to be imported via the port of Jeddah and 330,000 tonnes via Dammam, the statement said.

In its last reported tender on Nov. 24, GSFMO bought 345,000 tonnes of hard wheat, with accepted origins the European Union, North and South America and Australia, at the seller's option.

Saudi Arabia has become a major importer of hard and soft wheat since abandoning plans for self-sufficiency in wheat in 2008 as farming in the desert drained away precious water supplies.

The country aims to steadily reduce agriculture and plans to be completely reliant on imports by 2016 to save water.

Copyright Reuters, 2015

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imad_kueconomist@yahoo.com (Imaduddin) Middle East & Africa Thu, 29 Jan 2015 13:03:30 +0000
Burkina Faso 2014/15 cotton harvest seen just under 700,000 T http://www.brecorder.com/markets/commodities/middle-east-a-africa/219962-burkina-faso-201415-cotton-harvest-seen-just-under-700000-t.html http://www.brecorder.com/markets/commodities/middle-east-a-africa/219962-burkina-faso-201415-cotton-harvest-seen-just-under-700000-t.html imageOUAGADOUGOU: Burkina Faso expects a cotton harvest of just under 700,000 tonnes during the 2014/15 season, up from the last year's 650,000 tonnes but revised down from an initial target, firms operating in the country estimated on Monday.

The figure is about 100,000 tonnes below a target set last year for the 2014/15 harvest due to poor rains at the beginning of the season in the land-locked West African nation.

SOFITEX, the country's biggest cotton firm, will account for around 80 percent of the harvest, producing 540,000 tonnes, managing director Jean Paul Sawadogo told Reuters.

SOCOMA and Faso Coton will produce 90,000 tonnes and 50,000 tonnes, respectively, officials at the firms said. Cotton is the second-biggest source of revenue for the impoverished country after gold.

Copyright Reuters, 2015

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s.rs96@yahoo.com (Shoaib-ur-Rehman Siddiqui) Middle East & Africa Mon, 26 Jan 2015 22:33:00 +0000
Mali targets 800,000 T cotton per year by 2018 after output jump http://www.brecorder.com/markets/commodities/middle-east-a-africa/219062-mali-targets-800000-t-cotton-per-year-by-2018-after-output-jump.html http://www.brecorder.com/markets/commodities/middle-east-a-africa/219062-mali-targets-800000-t-cotton-per-year-by-2018-after-output-jump.html

imageBAMAKO: Mali plans to produce 800,000 tonnes of unginned cotton per year by 2018 after output surged by more than a quarter in the 2014/15 season on the back of improved farm inputs, the head of the state-owned textile development firm CMDT said on Thursday.

Kalfa Sanogo said final production figures for the season stood at 552,000 tonnes, compared with 440,000 tonnes the previous season.

"The government increased input subsidies and lowered the price of fertilizers. This significant grant from the state gave a lot of momentum to cotton production," Sanogo told Reuters in an interview on Wednesday in Bamako.

Mali, Africa's third biggest gold producer behind South Africa and Ghana, also counts cotton as one of its main exports. Sanogo said the West African nation was expecting to produce 650,000 tonnes in the 2015-2016 season, 725,000 tonnes in 2016-2017, and 800,000 tonnes in 2017-2018, according to CMDT's five-year development plan. He said Mali plans to invest between 60 to 70 billion CFA francs ($122 million) per year to achieve its targets.

"Keeping the target means continuing measures that helped to attain the 25 percent jump in output this year," he said. The measures include lower farm input prices, improving soil fertility, motivating farmers with favourable farmgate prices and immediate cash payments after harvest, Sanogo said. Some 3.5 million farmers out of Mali's over 15 million people grow cotton, according to the CMDT.

Copyright Reuters, 2015

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s.rs96@yahoo.com (Shoaib-ur-Rehman Siddiqui) Middle East & Africa Thu, 22 Jan 2015 20:12:35 +0000
Cameroon exports 698 T of robusta coffee in December http://www.brecorder.com/markets/commodities/middle-east-a-africa/219057-cameroon-exports-698-t-of-robusta-coffee-in-december.html http://www.brecorder.com/markets/commodities/middle-east-a-africa/219057-cameroon-exports-698-t-of-robusta-coffee-in-december.html imageYAOUNDE: Cameroon exported 698 tonnes of robusta coffee in December, the first month of the 2014/15 season, a sharp increase from 236 tonnes in the same month of the previous season, statistics from the National Cocoa and Coffee Board (NCCB) showed on Thursday.

The data showed that there were six exporters for the month. Nealiko Enterprises exported the most with 284 tonnes, followed by Nestle Cameroun with 180 tonnes and Polis Agro Cam with 27 tonnes.

No arabica coffee was exported from the country during the month, NCCB said.

Cameroon's total exports since the start of the 2014/15 season, which started prior to the robusta season on Oct. 1, remain at 249 tonnes. Cameroon is one of the few countries in Africa that grows both robusta and arabica coffee.

The robusta coffee season runs from Dec. 1 to Nov. 30 and the arabica coffee season runs from Oct. 1 to Sept. 30.

The country exported 19,704 tonnes of robusta coffee in the 2013/14 season, up from 14,725 tonnes in the previous season, and 2,175 tonnes of arabica coffee in 2013/14, a slight drop from 2,522 tonnes in 2012/13.

Copyright Reuters, 2015

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s.rs96@yahoo.com (Shoaib-ur-Rehman Siddiqui) Middle East & Africa Thu, 22 Jan 2015 20:04:43 +0000
Egypt has enough wheat until mid-May http://www.brecorder.com/markets/commodities/middle-east-a-africa/218204-egypt-has-enough-wheat-until-mid-may.html http://www.brecorder.com/markets/commodities/middle-east-a-africa/218204-egypt-has-enough-wheat-until-mid-may.html imageCAIRO: Egypt's stock of wheat for its subsidised bread programme will last until the middle of May, Supplies Minister Khaled Hanafi said in a statement on Saturday.

Egypt has bought at least 3.085 million tonnes of wheat on the international market since July 1, the start of the fiscal year.

It purchased 5.46 million tonnes of wheat from overseas in the 2013-2014 fiscal year in addition to 3.7 million tonnes of local wheat.

The country aims to cut state imports of wheat in the next year to between 4 million and 4.5 million tonnes provided reforms to its bread subsidy programme continue to reduce consumption.

Copyright Reuters, 2015

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parvezjabri@yahoo.com (Parvez Jabri) Middle East & Africa Sat, 17 Jan 2015 09:20:22 +0000
Egypt's GASC buys 240,000 tonnes French wheat http://www.brecorder.com/markets/commodities/middle-east-a-africa/217687-egypts-gasc-buys-240000-tonnes-french-wheat.html http://www.brecorder.com/markets/commodities/middle-east-a-africa/217687-egypts-gasc-buys-240000-tonnes-french-wheat.html imageABU DHABI: Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said on Thursday it had bought 240,000 tonnes of French wheat in a tender for shipment Feb. 19-28.

Egypt, the world's biggest importer of wheat, bought 60,000 tonnes from Cargill, 60,000 tonnes from Granit, 60,000 tonnes from Lecureur and 60,000 tonnes from Soufflet, Mamdouh Abdel Fattah, GASC vice chairman, said. The wheat was purchased at an average price of $256.10 a tonne on a cost-and-freight basis, Abdel Fattah said.

Copyright Reuters, 2015

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s.rs96@yahoo.com (Shoaib-ur-Rehman Siddiqui) Middle East & Africa Thu, 15 Jan 2015 21:18:23 +0000
Vietnam cuts rice export floor price to $360 per tonne http://www.brecorder.com/markets/commodities/middle-east-a-africa/216163-vietnam-cuts-rice-export-floor-price-to-$360-per-tonne.html http://www.brecorder.com/markets/commodities/middle-east-a-africa/216163-vietnam-cuts-rice-export-floor-price-to-$360-per-tonne.html imageHANOI: Vietnam has lowered its floor price for exports of 25 percent broken rice by 5.3 percent to $360 a tonne amid thin demand for the commodity in the world's second-largest exporter.

The floor, set by the Vietnam Food Association, will come into effect on Jan. 12, according to a statement from the association to traders seen by Reuters on Friday.

The previous floor for the grade was set at $380 a tonne in late November.

The agriculture ministry said last month that Vietnam's rice exports in 2014 were expected to have dipped slightly to an estimated 6.53 million tonnes, putting the Southeast Asian country far behind top exporters Thailand and India.

Copyright Reuters, 2015

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imad_kueconomist@yahoo.com (Imaduddin) Middle East & Africa Fri, 09 Jan 2015 12:35:29 +0000
Egypt says wheat stocks enough to last until early May http://www.brecorder.com/markets/commodities/middle-east-a-africa/216137-egypt-says-wheat-stocks-enough-to-last-until-early-may.html http://www.brecorder.com/markets/commodities/middle-east-a-africa/216137-egypt-says-wheat-stocks-enough-to-last-until-early-may.html imageCAIRO: Egypt's stock of wheat for its subsidised bread programme will last until the first week of May, well into the start of the local harvest, after it bought 180,000 tonnes this week, Supplies Minister Khaled Hanafi said on Friday.

Hanafi said in a statement he expected new silos to come into use in March, in time to receive the local harvest and secure strategic reserves until October.

Egypt, the world's largest wheat importer, said on Thursday it had bought 180,000 tonnes of French wheat in a tender for shipment Feb. 8-18.

Egypt has bought 3.085 million tonnes of wheat on the international market since July 1, the start of the fiscal year. It purchased 5.46 million tonnes of wheat from overseas in the 2013-2014 fiscal year in addition to 3.7 million tonnes of local wheat.

It aims to cut state imports of wheat in the next year to between 4 million and 4.5 million tonnes provided reforms to its bread subsidy programme continue to reduce consumption.

Copyright Reuters, 2015

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imad_kueconomist@yahoo.com (Imaduddin) Middle East & Africa Fri, 09 Jan 2015 12:04:47 +0000
Tunisia tenders to buy 117,000 T wheat, 50,000 T barley: trade http://www.brecorder.com/markets/commodities/middle-east-a-africa/215260-tunisia-tenders-to-buy-117000-t-wheat-50000-t-barley-trade.html http://www.brecorder.com/markets/commodities/middle-east-a-africa/215260-tunisia-tenders-to-buy-117000-t-wheat-50000-t-barley-trade.html imageHAMBURG: Tunisia's state grains agency has issued an international tender to purchase up to 117,000 tonnes of soft milling wheat and 50,000 tonnes of feed barley, European traders said on Tuesday.

The origin is optional and the deadline is Jan. 7, traders said.

Both grains were sought for a range of shipment dates between February and March depending on origin, they said.

In its last reported tender on Dec. 18, 2014, Tunisia's state grains agency purchased 42,000 tonnes of milling wheat and 25,000 tonnes of feed barley from optional origins after seeking offers for the same volumes.

Copyright Reuters, 2014

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imad_kueconomist@yahoo.com (Imaduddin) Middle East & Africa Tue, 06 Jan 2015 14:55:11 +0000
Uganda Nov coffee exports down 17pc yr/yr in Nov http://www.brecorder.com/markets/commodities/middle-east-a-africa/214027-uganda-nov-coffee-exports-down-17pc-yryr-in-nov.html http://www.brecorder.com/markets/commodities/middle-east-a-africa/214027-uganda-nov-coffee-exports-down-17pc-yryr-in-nov.html

imageKAMPALA: Uganda's coffee exports fell 17 percent to 219,948 60-kg bags in November compared with the same month a year ago, a source at the Uganda Coffee Development Authority (UCDA) said on Tuesday.

The source said UCDA forecast that December exports will also fall to 240,000 bags from 257,976 bags shipped in the same month in 2013, with the drop attributed to a gradual peaking of the coffee harvest in central and eastern Uganda.

The source said Uganda earned $29.5 million from coffee exports last month, up from $26.7 million earned in same period last year.

Copyright Reuters, 2014

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s.rs96@yahoo.com (Shoaib-ur-Rehman Siddiqui) Middle East & Africa Tue, 30 Dec 2014 07:41:46 +0000