01202017Fri
Last update: Fri, 20 Jan 2017 12pm

Middle East & Africa

Markets - Commodities - Middle East & Africa

Iraq tendering to buy at least 50,000 tonnes of rice CHICAGO/HAMBURG: Iraq's state grains buyer has issued an international tender to buy at least 50,000 tonnes of rice, with sourcing open, traders said on Monday. The closing date for the tender is June 8 and July/August shipment is sought, traders said."The tender is for all worldwide origins but the sentiment seems to be that the two origins that are most competitive are Argentina and Thailand," a US trader said.The trader said it was somewhat surprising that Iraq was permitting totally open options on origin, allowing more Asian rice, after Iraq bought in April from the United States and South America.In its last rice purchase reported on April 14, Iraq's state buyer purchased 150,000 tonnes of rice to be sourced from the United States and Uruguay.Volumes in Iraq's rice tenders are nominal and the country frequently buys more than was tendered for.Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Egypt's purchases of local wheat reach 4.711mn tonnes CAIRO: Egypt's government has bought 4.711 million tonnes of local wheat since the start of the season on April 15, the agriculture ministry said on Sunday. The government had originally set a target of 4 million tonnes but said after reaching that volume that it would continue to buy from local farmers. The supply ministry has said procurement would likely end in mid-June. Egypt is paying farmers a fixed price of 420 Egyptian pounds ($47.30) ...

Markets - Commodities - Middle East & Africa

Egypt's purchases of local wheat reach 4.711mn tonnes CAIRO: Egypt's government has bought 4.711 million tonnes of local wheat since the start of the season on April 15, the agriculture ministry said on Sunday.The government had originally set a target of 4 million tonnes but said after reaching that volume that it would continue to buy from local farmers.The supply ministry has said procurement would likely end in mid-June.Egypt is paying farmers a fixed price of 420 Egyptian pounds ($47.30) per ardeb (150 ...

Markets - Commodities - Middle East & Africa

Ghana says 2016 gold production to dip to 2.7mn ounces ACCRA: Ghana expects to produce 2.7 million ounces of gold in 2016, down marginally on the previous year as new production offsets a decline in output due to lower global gold prices and ageing mines, the Chamber of Mines said on Wednesday. Gold is the single biggest revenue earner for the West African commodities exporter which is following a three-year aid deal with the International Monetary Fund to restore its fiscal balance. Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Egypt's local wheat purchases reach 4.537mn tonnes CAIRO: Egypt's government has bought 4.537 million tonnes of local wheat since the start of the season on April 15, the ministry of agriculture said on Tuesday. The government had set a purchasing target of 4 million tonnes but having reached that level last week the agriculture ministry said it was committed to buying any wheat that local farmers wished to sell until the end of the season.The supply ministry has said it will probably ...

Markets - Commodities - Middle East & Africa

Egypt's local wheat buying at 4.464 million tonnes ABU DHABI: Egypt's government has bought 4.464 million tonnes of local wheat since the start of the season on April 15, the ministry of agriculture said on Monday.The figure surpasses a target of 4 million tonnes that was set by the government at the beginning of the season.The agriculture ministry has said it was committed to buying any wheat that local farmers wished to sell until the season ends. The supply ministry has said it ...

Markets - Commodities - Middle East & Africa

South African wheat prices hit record high on import tariffs JOHANNESBURG: South African wheat prices hit an all time high on Thursday as the market reacted to an expected 30 percent hike in import tariffs due to a weak rand and falling global prices.Africa's most industrialised economy is set to increase the tariff to 1,591.40 rand ($102.58) from 1,224.30 rand currently, according to a notice on the South African Grain Information Services website published on late on Wednesday.The expected tariff hike is based on a ...