04302016Sat
Last update: Sat, 30 Apr 2016 09pm

Middle East & Africa

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 228,400 tonnes of the yellow variety of the grain in the coming days, according to Thomson Reuters' interactive shipping map. Domestic maize prices in South Africa are near recently-scaled record highs because of the drought. The government's Crop Estimates Committee has forecast the crop will be 27 percent lower in 2016 at 7.255 million tonnes. South Africa consumes around 10 million tonnes of maize annually and so far this marketing season, which ends on April ...

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 ...

Markets - Commodities - Middle East & Africa

Ivory Coast 2015 coffee beans exports down 10pc ABIDJAN: Ivory Coast 2015 coffee beans exports stood at 63,106 tonnes, down about 10 percent from 70,161 tonnes the previous year, port data showed on Wednesday. About 56,079 tonnes of coffee beans were shipped in 2015 from the port of Abidjan, compared with 59,509 tonnes the previous year, while exports were at 7,027 tonnes from the port of San Pedro compared with 10,652 tonnes the previous year. Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Egypt's GASC says seeks soyoil, sunflower oil in tender ABU DHABI: Egypt's state buyer GASC said on Wednesday it was seeking unspecified quantities of soyoil and sunflower oil in a tender. The oils will be for shipment April 1-15 and the deadline for bids is March 8, Mamdouh Abdel Fattah, vice chairman, told Reuters. Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Saudi Arabia has enough wheat to last more than six months RIYADH: Saudi Arabia has 1.8 million tonnes of wheat reserves, up from 1.6 million tonnes this time last year, enough to last more than six months, the director-general of the kingdom's main wheat-buying agency said on Tuesday.Saudi Arabia has become a major importer of hard and soft wheat since abandoning plans for self-sufficiency in wheat in 2008, as farming in the desert drained scarce water supplies. It has halted purchases of locally grown wheat this ...

Markets - Commodities - Middle East & Africa

Cameroon cocoa prices steady after January export fall YAOUNDE: A fall in January exports meant cocoa prices remained steady in Cameroon, Africa's fourth-largest cocoa producer, through mid-February after a slight rise last month.Buyers paid between 1,475 CFA francs ($2.48) and 1,600 CFA francs per kg in the Centre region, while prices ranged between 1,200 CFA francs and 1,400 CFA francs in the South, Southwest and East regions.Andre Belebenie, the national president of the cocoa and coffee producers of Cameroon, said a decline in ...

Markets - Commodities - Middle East & Africa

Egypt's strategic wheat reserves to last until start of June ABU DHABI: Egypt's strategic wheat reserves are enough to last until the start of June, Supply Minister Khaled Hanafi said in a statement on Saturday. Egypt's state-owned General Authority of Supply Commodities (GASC) bought 240,000 tonnes of wheat from France and Russia in a tender on Friday.Egypt, the world's biggest importer of wheat, has seen its huge grain purchasing programme disrupted this year by conflicting quality rules from the supply ministry and the agriculture ministry ...