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Middle East & Africa


Egypt lowers target for local wheat purchases CAIRO: Egypt's supplies minister on Monday lowered the target for state purchases of domestic wheat from the current harvest, suggesting the world's largest wheat importer will not cut its food import bill in the coming fiscal year.Khaled Hanafi told reporters the total amount of wheat the government will purchase was "expected to reach 3.8 or 3.9 million tonnes by the end of the current season." The previous government target was 4.4 million tonnes.Like energy subsidies, bread subsidies that provide a low-cost good to millions of poor Egyptians is rooted in a corrupt and wasteful system that drains state coffers.The lowered target is on par with the amount of wheat Egypt purchased from its farmers during the past two harvest seasons.The government is striving to boost self sufficiency and cut its 32 billion Egyptian pound ($4.48 billion) food import bill.But at most, the government will be able to increase domestic supply ...

Morocco seeks 163,500 T of soft wheat in the local market RABAT: Morocco's state grains agency ONICL has launched a tender to buy 163,500 tonnes of soft wheat from the local market, it said in a statement on Monday.It is the first tender after the end of the import campaign which ran from Jan. 1 to April 30, when the government suspended customs duties for soft wheat imports to counter rising world prices.ONICL will open the bids on June 17. The soft wheat is destined to ...
Iraq issues tender for at least 30,000 tonnes rice BAGHDAD: Iraq issued a tender to buy a minimum of 30,000 tonnes of rice with origins from the United States, Uruguay, Argentina, Brazil or Vietnam, a trade ministry statement said on Monday. The closing date for the tender is June 23 and offers must be valid until June 27. Volumes in Iraq's rice tenders are nominal and the country frequently buys more than it tenders for. Iraq is one of the world's largest importers of ...
Iraq buys 120,000 T rice from US, Vietnam and Uruguay HAMBURG: Iraq's state grains buyer has purchased a total 120,000 tonnes of rice in an international tender that closed this week to be sourced from the United States, Vietnam and Uruguay, European traders said on Thursday.The tender from Iraq's state grain board for at least 30,000 tonnes closed on Sunday and offers had to remain valid until Thursday.Traders said 30,000 tonnes to be sourced from the United States was purchased at $715.75 a tonne c&f ...
Kenya coffee prices ease at latest sale NAIROBI: The top price of the benchmark Kenyan coffee grade eased to $328 per 50 kg bag at this week's auction from $385 last week, the Nairobi Coffee Exchange said.Kenya is a relatively small producer of coffee but its beans are much sought after by roasters to blend with those of lower quality from other producing countries.The benchmark grade AA sold at $121-$328 per bag, compared with $181-$385 last week, NCE said after the auction ...
Ivorian cocoa arrivals seen at 1,467,000 T by June 1 ABIDJAN: Cocoa arrivals at ports in top grower Ivory Coast reached around 1,467,000 tonnes by June 1 since the start of the season on October 2, exporters estimated on Monday. In the same period of the previous season cocoa arrivals were at 1,238,000 tonnes. Exporters estimated that around 32,000 tonnes of beans were delivered to the West African state's two ports of Abidjan and San Pedro between May 26 and June 1, up from 22,000 ...
Ivory Coast coffee output to fall short of forward sales ABIDJAN: Ivory Coast's robusta coffee output this season is expected to fall short of volumes sold forward by the country's marketing board, said exporters who worry they may face costly defaults on contracts with clients. Under reforms introduced last season, Ivory Coast abandoned more than a decade of sector liberalisation. The Coffee and Cocoa Council (CCC) now sells forward export clearances for the bulk of the anticipated crop in order to fix a guaranteed price ...


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
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WeeklyNovember 23, 2015
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