06302016Thu
Last update: Thu, 30 Jun 2016 06am

Middle East & Africa

Markets - Commodities - Middle East & Africa

Egypt to end local wheat buying on Wednesday CAIRO: Egypt will end local wheat buying on Wednesday, earlier than usual, due to exceeding its target of 4 million tonnes, the supplies ministry said on Saturday. "Supplies Minister Khaled Hanafi pointed out that the door for receiving local wheat from farmers will close at the end of Wednesday due to lowering local procurement rates," the ministry said in a statement.Egypt, the world's biggest wheat importer, has bought 4.8 million tonnes of domestic wheat since the start of the season on April 15. Egypt's wheat harvest begins in April and normally runs through July.Last year, the government said it bought a record 5.3 million tonnes of the grain, up from 3.7 million the year before.The ministry said on Saturday it had spent 14.5 billion Egyptian pounds ($1.6 billion) this year as part of a subsidy for farmers, who are being paid a fixed price of 420 Egyptian pounds ($47.30) per ...

Markets - Commodities - Middle East & Africa

Egypt's domestic wheat purchases reach 4.883mn tonnes CAIRO: Egypt's government has bought 4.883 million tonnes of domestic wheat since the start of the season on April 15, the agriculture ministry said on Friday. The government had originally set a target of 4 million tonnes but said that, after reaching that volume, it would continue to buy from local farmers. The supply ministry has said that procurement is likely to end in mid-June. Egypt is paying farmers a fixed price of 420 Egyptian ...

Markets - Commodities - Middle East & Africa

Morocco raises soft wheat import custom duty to 65pc RABAT: Morocco will raise the custom duty on soft wheat imports to 65 percent from 30 percent from June 15 to August 15 to stabilize prices at 2,800-2,850 dirhams ($290.85-$296.04) per tonne, the government said in a statement on Thursday. The move comes as a surprise after the agriculture minister told Reuters in April that Morocco would retain its 30 percent customs duty on imported soft wheat until the end of 2016 after a severe ...

Markets - Commodities - Middle East & Africa

Nigeria sets up task force in effort to ramp up rice, wheat production ABUJA: The Nigerian government set up a panel on Tuesday made up of agriculture sector leaders and politicians as part of its attempt to increase rice and wheat production, the vice president's office said.The West African country is the world's second largest importer of rice and among the biggest buyers of U.S. wheat. The government aims to reduce its annual food import bill of $20 billion and create jobs by boosting the agriculture sector.The panel ...

Markets - Commodities - Middle East & Africa

Iraq tendering to buy at least 50,000 tonnes of rice CHICAGO/HAMBURG: Iraq's state grains buyer has issued an international tender to buy at least 50,000 tonnes of rice, with sourcing open, traders said on Monday. The closing date for the tender is June 8 and July/August shipment is sought, traders said."The tender is for all worldwide origins but the sentiment seems to be that the two origins that are most competitive are Argentina and Thailand," a US trader said.The trader said it was somewhat surprising ...

Markets - Commodities - Middle East & Africa

Egypt's purchases of local wheat reach 4.711mn tonnes CAIRO: Egypt's government has bought 4.711 million tonnes of local wheat since the start of the season on April 15, the agriculture ministry said on Sunday. The government had originally set a target of 4 million tonnes but said after reaching that volume that it would continue to buy from local farmers. The supply ministry has said procurement would likely end in mid-June. Egypt is paying farmers a fixed price of 420 Egyptian pounds ($47.30) ...

Markets - Commodities - Middle East & Africa

Egypt's purchases of local wheat reach 4.711mn tonnes CAIRO: Egypt's government has bought 4.711 million tonnes of local wheat since the start of the season on April 15, the agriculture ministry said on Sunday.The government had originally set a target of 4 million tonnes but said after reaching that volume that it would continue to buy from local farmers.The supply ministry has said procurement would likely end in mid-June.Egypt is paying farmers a fixed price of 420 Egyptian pounds ($47.30) per ardeb (150 ...