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Glencore director says corn use in biofuel questionable DUBAI: A director of commodity trading giant Glencore on Sunday questioned the conversion of corn into ethanol biofuel, saying it can contribute to higher prices.   Critics of using foodstuffs to make fuel say the process can drive up food prices by reducing available supplies, hitting the world's poorest people hardest.   Responding to a question in a panel discussion at the Kingsman Dubai sugar conference, Chris Mahoney, director of agricultural products at Glencore, said; "Ethanol production from grains and from edible oil is questionable."   He added, "It has been a factor in creating a higher price environment."   Sunny Verghese, CEO of commodity merchant Olam International Ltd, which trades a range of agricultural commodities, was more critical of the use of corn to make ethanol.   "It is inappropriate. It does not make sense to convert corn to ethanol," Verghese told delegates.   "But it makes sense to convert sugarcane to ethanol."   Later Verghese told Reuters: "I don't believe that converting ...

Ivory Coast rains to extend main crop cocoa output ABIDJAN: Rain fell across most of Ivory Coast's principal cocoa regions last week, ending a month-long dry spell and reviving hopes that main crop harvesting will carry on into March, farmers and analysts said on Monday.   Ivory Coast, the world's top cocoa producer, saw a late onset to its traditional mid-November to March dry season, with rains continuing into early December.   However, none of its main cocoa regions had received measurable rainfall in the past five weeks, ...
Tunisia buys 50000T soft wheat HAMBURG: Tunisia's state grains agency has purchased 50,000 tonnes of soft milling wheat and 75,000 tonnes of durum wheat in tenders which closed on Friday, European traders said.   All the purchase was optional origin.   Some 25,000 tonnes of soft wheat was purchased at $356.42 a tonne c&f and 25,000 tonnes at $359.69 a tonne c&f, traders said.   Copyright Reuters, 2013 ...
Ghana cocoa purchases hit 485,234 tonnes by Jan. 3 ACCRA: Ghana's cocoa main crop purchases reached 485,234 tonnes by Jan. 3 since the season started Oct. 12, down 18.9 percent compared with the same period last year, data from industry regulator Cocobod showed on Wednesday.   Total purchases for week twelve ending Jan. 3 were 36,900 tonnes, up from 26,749 tonnes declared in the week before, according to the data.   Ghana, the world's second-largest cocoa grower after Ivory Coast, has projected a harvest of around 800,000 tonnes ...
Ivorian cocoa arrivals seen down 6pc by Jan. 13 ABIDJAN: Cocoa arrivals at ports in top grower Ivory Coast reached around 742,000 tonnes by Jan. 13 since the start of the season in October, exporters estimated on Monday, compared with 789,322 tonnes in the same period of the previous season.   Exporters estimated around 46,000 tonnes of beans were delivered to the West African state's two ports between Jan. 7 to 13 down from 50,860 tonnes in the same week a year ago.   "This morning we received ...
Tunisia buys 75,000T feed barley in tender HAMBURG: Tunisia's state grains agency purchased 75,000 tonnes of optional-origin feed barley in a tender for the same volume which closed on Wednesday, European traders said.   The barley was bought in three 25,000 tonne consignments priced at $322.17 a tonne c&f for Feb. 10-20 shipment, $322.77 a tonne c&f for Feb. 20-28 shipment and $326.50 a tonne c&f for Mar. 1-10 shipment, traders said.   Seller was said to be Granit.   Tunisia is one of several importing countries including ...
Ivorian cocoa arrivals seen 696,000 tonnes by Jan. 6  ABIDJAN: Cocoa arrivals at ports in top grower Ivory Coast reached around 696,000 tonnes by Jan. 6 since the start of the season in October, exporters estimated on Tuesday, compared with 738,462 tonnes in the same period of the previous season.   This season's cumulative figure includes 13,000 tonnes of late export declarations.   Exporters estimated around 59,000 tonnes of beans were delivered to the West African state's two ports between Jan. 1 and 6, up from 36,335 tonnes ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln