09302016Fri
Last update: Fri, 30 Sep 2016 09am

Middle East & Africa

Markets - Commodities - Middle East & Africa

Morocco seeks 134,000 T of soft wheat in the local market RABAT: Morocco's state grains agency ONICL on Friday launched a tender to buy 134,000 tonnes of soft wheat from the local market. ONICL will open the bidding on Apr. 5. The soft wheat, which can be imported or from the local harvest, is destined to make subsidised flour, ONICL said. Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Egypt's GASC buys 240,000 T French, Romanian, Ukraine wheat ABU DHABI: Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said on Wednesday it bought 240,000 tonnes of wheat in a tender. Of the total, GASC purchased 120,000 tonnes of French wheat, 60,000 tonnes of Romanian wheat and 60,000 tonnes of wheat from Ukraine, GASC vice chairman Mamdouh Abdel Fattah told Reuters. The wheat was purchased at an average price of $188.86 a tonne, he said. Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Egypt's GASC targeting 4-4.5mn T of local wheat buying in 2016 CAIRO: Egypt's state grain buyer, the General Authority for Supply Commodities (GASC) aims to purchase 4-4.5 million tonnes of domestic wheat this year, GASC Vice Chairman Mamdouh Abdel Fattah told Reuters on Monday. Egypt, the world's largest wheat importer, annually fixes a local procurement price for Egyptian wheat that is above global prices in an attempt to encourage farmers to grow the crop. Last year the high local price, over $150 above the global spot ...

Markets - Commodities - Middle East & Africa

Gold output helps boost Ivory Coast mining sector in 2015 ABIDJAN: Turnover in Ivory Coast's mining sector jumped 24 percent last year, boosted by a rise in gold production even as output of other metals languished because of low commodity prices, a government spokesman said on Wednesday.Turnover hit 479 billion CFA francs ($802.09 million) in 2015, up from 385 billion CFA in 2014, while gold production rose to 23.5 million tonnes, up from 20 tonnes in 2014, government spokesman Bruno Nabagne Kone said after a ...

Markets - Commodities - Middle East & Africa

Algeria to start 300,000 tonne sugar refinery in weeks ALGIERS: A new sugar refinery in Algeria with a capacity of 300,000 tonnes per year will start production "within weeks", an industry ministry official told Reuters on Wednesday, as the country looks to cut imports because of the oil price drop.The refinery, which is owned by a private Algerian investor and is near the western city of Oran, will later double output to 600,000 tonnes a year, the official said. Its sugar will serve the ...

Markets - Commodities - Middle East & Africa

South Africa importing Argentine, Ukrainian yellow maize, orders Mexican white JOHANNESBURG/HAMBURG: South Africa, which needs to import millions of tonnes of maize this year because of drought, will source hundreds of thousands of tonnes of white maize in the coming months from Mexico, likely beginning in May, local and foreign traders said. White maize is the staple source of calories for most South African households but shortages are looming, driving up domestic food prices and inflation. Africa's most advanced economy is also set to receive ...

Markets - Commodities - Middle East & Africa

South Africa gold firms get lift from weak rand, but risks lurk JOHANNESBURG: A sinking rand has sparked a buying spree and rerating of South African gold mining shares which have doubled in value in 2016, but the volatile currency is a double-edged sword that could cut the gains back down to size.The crumbling currency is the main driver behind the rally. It has shed 15 percent against the dollar since October and its decline has coincided with a spike in spot gold, pushing the rand/bullion price ...