09292016Thu
Last update: Thu, 29 Sep 2016 08pm

Middle East & Africa

Markets - Commodities - Middle East & Africa

Egypt's GASC buys 50,000 tonnes of Brazilian raw sugar CAIRO: Egypt's General Authority for Supply Commodities (GASC) purchased on Sunday 50,000 tonnes of Brazilian raw sugar, GASC vice chairman Ahmed Youssef told Reuters. GASC bought the sugar for $491.50 per tonne, Youssef said. The sugar is sought for arrival between Oct. 15-30. Egypt plans to buy 450,000-550,000 tonnes of sugar in local and foreign markets to cover its needs until the end of February, a supplies ministry official said last week. GASC received just four offers from two companies in the tender, held on Saturday, before deciding to postpone its purchase decision until Sunday, traders said. The winning offer was made by Union company, traders said. The state buyer had originally scheduled the sugar tender for last month, but postponed it until Saturday after receiving limited interest, traders said.Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Egypt's GASC cancels wheat tender ABU DHABI/HAMBURG: Egypt's state grain buyer GASC said it cancelled a purchase tender for wheat on Wednesday after receiving only one offer. Suppliers shunned GASC earlier on Wednesday after it changed its specifications, asking for wheat free of ergot with only Venus presenting an offer for Ukranian wheat. Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Nicaraguan coffee exports rise 4.6pc in July MANAGUA: Nicaraguan coffee exports rose 4.6 percent in July from the same month a year earlier, the country's coffee export center Cetrex said on Monday. Exports from the Central American country rose to 198,358 60-kg bags. So far during the current season, which began in October and will end in September, Nicaragua has shipped 1.685 million 60-kg bags, 5.2 percent higher than the same period last year. Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Egypt's GASC postpones raw sugar tender until Sept. 3 ABU DHABI: Egypt's General Authority for Supply Commodities on Wednesday said it postponed the deadline for bids on its international tender for raw sugar until Sept. 3. GASC Vice Chairman Ahmed Youssef gave no reason for the delay. The sugar is sought for arrival between Oct. 15-30. Offers are to be made on a cost and freight basis, with a minimum offer of 50,000 tonnes. Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Cameroon cocoa prices fall as drought delays purchases YAOUNDE: Cameroon farmgate cocoa prices fell in August as major buying was delayed by drought in some regions, farmers said on Wednesday.Prices ranged from 1,000 CFA francs ($1.72) per kilogramme of cocoa in the southwest to 1,200 CFA francs in the centre of the central African country, producers said, down from prices as high as 1,700 CFA in July."The crops are lagging behind because of a long drought," said southwest cocoa producer Andrew Nya.Cameroon's cocoa ...

Markets - Commodities - Middle East & Africa

Ivory Coast cocoa exporters see sharp early season output fall SAN PEDRO: Cocoa exporters in top grower Ivory Coast predict output will fall by up to 200,000 tonnes in the first three months of the 2016/17 season compared to the same period of the current crop due to poor rainfall and a lack of carryover stocks. Port arrivals are down nearly 15 percent this season and farmers and industry sources told Reuters they expect little improvement when next season opens at the start of October, ...

Markets - Commodities - Middle East & Africa

Ivory Coast rains help main cocoa crop, some farmers fear disease ABIDJAN: Light rains in most of Ivory Coast's main cocoa regions augur well for the crop in the world's biggest producer, farmers said on Monday, but cloudy weather has stoked fears of disease in the south.Farmers need the right mix of rain and sunny spells in July and August to strengthen the development of pods and avoid cocoa rot and disease ahead of the main crop, which runs from October to March. In the western ...