07302016Sat
Last update: Sat, 30 Jul 2016 07pm

Middle East & Africa

Markets - Commodities - Middle East & Africa

Dry weather threatens Mali cotton output target of 650,000 tonnes BAMAKO: A lack of rain threatens to prevent Mali reaching its cotton production target of 650,000 tonnes in the 2016/17 season, the state-owned Malian Company for the Development of Textile (CMDT) said on Wednesday. "We are facing a rainfall deficit. June is usually a good month for the seedlings but it's not raining as it should: at this date only 47 percent of the seedlings have been produced," Ousmane Cisse, CDT's main agriculture advisor, said."The situation is difficult but there is some hope. We believe that if the rains arrive by the end of June, the situation is recoverable," he added. West Africa's biggest cotton producer has had difficulty meeting its harvest goals before. Last season's crop of 513,553 tonnes was far less than the 650,000-tonne target, also because of damage linked to late arrival of the rain. The cotton harvest in Mali runs from April to April. Production begins ...

Markets - Commodities - Middle East & Africa

Egypt's local wheat purchases thrown into question amid fraud allegations CAIRO/ABU DHABI: Egypt has launched a government-led recount of its wheat silos after an unusually high procurement figure spurred widespread fraud allegations from top industry officials, traders and parliamentarians. Egypt said last week that in the latest procurement season it bought nearly 5 million tonnes of local wheat from its farmers, the second highest figure on record and well above the 3-3.5 million tonnes per year farmers had delivered in the past decade. Wheat millers ...

Markets - Commodities - Middle East & Africa

Algeria buys 450,000-500,000 tonnes milling wheat for Sept shipment PARIS: Algeria's state grains agency OAIC bought around 450,000 to 500,000 tonnes of milling wheat for September shipment in a tender that closed on Tuesday, paying between $199 and $200 a tonne, including cost and freight, traders said on Wednesday. The origin of the wheat is optional but traders said the wheat was likely to come from Baltic countries due to concerns on the quality of the crop in France, Algeria's main supplier, and a ...

Markets - Commodities - Middle East & Africa

Iraq bought 80,000 tonnes rice from India in tender earlier in June HAMBURG: Iraq's state grains buyer purchased 80,000 tonnes of rice to be sourced from India in a tender which closed on June 8 which saw negotiations continue to around June 17, European traders said on Wednesday. Traders had earlier estimated the purchase at about 100,000 tonnes.The purchase involved 40,000 tonnes purchased from trading house Olam at $431 a tonne c&f free out and 40,000 tonnes bought from Amir Chand also at $431 a tonne c&f ...

Markets - Commodities - Middle East & Africa

Iraq issues tender to buy at least 30,000 tonnes rice - trade HAMBURG: Iraq's state grains buyer has issued an international tender to buy at least 30,000 tonnes of rice, traders said on Tuesday.The rice can be sourced from any origin worldwide, they said.The closing date for the tender is June 28 and offers must remain valid until July 3.Iraq was said to have bought Indian rice in its previous tender which closed on June 8, but that tender had restricted participation to a smaller than usual ...

Markets - Commodities - Middle East & Africa

South Africa's Amplats warns H1 profit to fall at least 20pc JOHANNESBURG: Anglo American Platinum (Amplats) expects its half-year profit to fall by at least 20 percent due to weaker metal prices, the South African miner said on Tuesday. Platinum prices have been hurt by growth concerns in China and oversupply worries which have forced firms to abandon projects and sell mines.Amplats, which produces around 40 percent of the world's platinum group metals, said it would make a further announcement once it had determined a likely ...

Markets - Commodities - Middle East & Africa

Ivorian cocoa arrivals dropped from around 9pc by June 19 ABIDJAN: Cocoa arrivals at ports in top grower Ivory Coast reached around 1,374,000 tonnes by June 19, 2016 since the start of the season on October 1, 2015 exporters estimated on Monday, down from 1,517,000 tonnes in the same period of the previous season. Exporters estimated around 20,000 tonnes of beans were delivered to the West African state's two ports of Abidjan and San Pedro between June 13 to June 19 down from 24,000 tonnes ...