02092016Tue
Last update: Tue, 09 Feb 2016 08am

Middle East & Africa

Markets - Commodities - Middle East & Africa

Ivorian cocoa arrivals seen at 441,000 tonnes by Nov. 22 ABIDJAN: Cocoa arrivals at ports in top grower Ivory Coast reached around 441,000 tonnes by Nov. 22 from the start of the season on Oct. 1, exporters estimated on Monday, up from 408,000 tonnes in the same period of the previous season. Exporters estimated around 54,000 tonnes of beans were delivered to the West African state's two ports of Abidjan and San Pedro between Nov. 16 and 22, down from 66,000 tonnes during the same period last year.Copyright Reuters, 2015 ...

Markets - Commodities - Middle East & Africa

Kenya coffee output, earnings to rise in 2015/16: regulator NAIROBI: Kenya expects its coffee harvest to jump by almost a quarter to 50,000 metric tonnes in the 2015/16 crop year which runs until next September buoyed by initiatives to boost production and to crop cycles, the country's crop regulator said on Tuesday.Earnings from coffee exports were expected to increase to 20 billion shillings ($196 million) based on current exchange rates, up from $182.53 million the previous year, Alfred Busolo, acting head of the Agriculture, ...

Markets - Commodities - Middle East & Africa

Egypt's GASC receives offers in wheat tender CAIRO: The lowest offer in Egyptian state buyer GASC's wheat purchase tender which closed on Wednesday was $200.69 per tone free on board (FOB) for French wheat, traders said. The offer was made for 60,000 tonnes, they said. No purchase has yet been made and results are expected later on Wednesday, traders said. Copyright Reuters, 2015 ...

Markets - Commodities - Middle East & Africa

Kenya's tea production drops 14pc in nine months to September NAIROBI: Kenya's tea output dropped 14 percent in nine months to September due to drought that hit the country at the start of the year, data from the industry regulator showed. Kenya is the world's leading exporter of black tea and the commodity is a major foreign exchange earner for East Africa's biggest economy. Output of tea in the first nine months of 2015 fell to 271.4 million kilograms (kg) from 315.7 million kg in ...

Markets - Commodities - Middle East & Africa

Egypt's GASC to supply imported wheat to private sector ABU DHABI: Egypt's supplies ministry said on Monday it had signed a deal with the chamber of grain industries paving the way for state grain buyer GASC to supply imported wheat to the private sector as part of a drive to keep prices down. A statement by the ministry said the General Authority for Supply Commodities (GASC) would provide flour producers with imported wheat. Under the protocol, the chamber of grain industries will receive requests ...

Markets - Commodities - Middle East & Africa

Lonmin prices rights issue at 1 pence a share JOHANNESBURG: Platinum producer Lonmin on Monday priced its $407 million rights issue at a 94 percent discount as the firm fights for survival in the face of depressed commodity prices.Lonmin said it would sell 27 billion shares at 1.00 pence each to its shareholders, compared to the stock's last trading price of 16.25 pence on the London Stock Exchange on Friday. The company had flagged that the equity cash call would be issued at a ...

Markets - Commodities - Middle East & Africa

Egypt to buy wheat from local farmers at average global price CAIRO: Egypt will start buying wheat from local farmers at the average global price starting next season, the cabinet said in a statement on Thursday. The government will also begin directly subsidising wheat farmers by granting each of them 1,300 Egyptian pounds ($161.89) per feddan, the statement said. Egypt will continue to subsidise sugar farmers at 400 Egyptian pounds per tonne. ($1 = 8.0300 Egyptian pounds)Copyright Reuters, 2015 ...