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Last update: Sun, 11 Dec 2016 02pm

Middle East & Africa

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 formula using current world wheat prices and rand expectations.The wheat contract for delivery in July reached a record high of 5,220 rand ($336.48) to close 0.58 percent up at 5,180 rand."It was the first day of trading after the announcement on SAGIS and that added on some pressures to the price," Agricultural Business Chamber economist Wandile Sihlobo said.South Africa imports about 60 percent of its annual wheat consumption with this figure likely to increase along ...

Markets - Commodities - Middle East & Africa

Ivory Coast, Ghana cocoa output lower than expected in 2015-16 BAVARO: Ivory Coast and Ghana, the world's top cocoa growers, will produce less cocoa than previously expected in the 2015-16 season, an executive at the International Cocoa Organization (ICCO) said at an industry conference on Tuesday. Ivory Coast is expected to produce 1.65 million tonnes of cocoa in 2015-16, down from a previous forecast of 1.69 million tonnes, and well short of the 1.796 million tonnes grown in the prior season, said Laurent Pipitone, ICCO's ...

Markets - Commodities - Middle East & Africa

Egypt's supply minister says local wheat buying to end mid-June CAIRO: Egypt's Supply Minister said on Wednesday the local wheat purchasing season would end mid-June. The minister made his comments after the agriculture ministry announced earlier on Wednesday that the government had purchased 4.076 million tonnes of local wheat so far in the season which started April 15, surpassing an initial target of 4 million tonnes. "We will continue buying until mid-June," Khaled Hanafi told Reuters. The world's largest importer of the grain had planned ...

Markets - Commodities - Middle East & Africa

Egypt local wheat buying tops 4 million tonnes CAIRO: Egypt's agriculture ministry has bought 4.076 million tonnes of local wheat since the start of the season on April 15, it said on Wednesday. The world's largest wheat importer had said it planned to buy 4 million tonnes domestically in a local buying season which usually ends around July. The agriculture ministry said in a statement the government was committed to receiving all the wheat from farmers who wish to sell until the season ...

Markets - Commodities - Middle East & Africa

Egypt local wheat buying reaches 4.076mn tonnes CAIRO: Egypt's Agriculture Ministry has bought 4.076 million tonnes of local wheat since the start of the season on April 15, it said on Wednesday.The world's largest wheat importer had said it planned to buy 4 million tonnes domestically in a local buying season which usually ends around July.The agriculture ministry said in a statement the government was committed to receiving all the wheat from farmers who wish to sell until the season ends.The ministry ...

Markets - Commodities - Middle East & Africa

Kenya sees 2016 tea output up to 15pc on heavy rains: regulator NAIVASHA: Kenya expects production of tea to jump 10 to 15 percent this year to 430 million to 450 million kg on the back of heavy rains associated with the el Nino weather phenomenon, the agriculture industry regulator said on Tuesday.The East African nation is the world's No. 1 exporter of black tea and the crop is its top foreign exchange earner. It earned 125.25 billion shillings ($1.24 billion) from tea exports last year.Alfred Busolo, ...

Markets - Commodities - Middle East & Africa

Egypt's local wheat purchases reach 3.83mn tonnes CAIRO: Egypt has bought 3.832 million tonnes of local wheat since the start of the local procurement season on April 15, the agriculture ministry said in a statement on Monday. The world's largest wheat importer plans to buy 4 million tonnes domestically in a local buying season which usually ends around July.Copyright Reuters, 2016 ...