12052016Mon
Last update: Mon, 05 Dec 2016 01pm

Middle East & Africa

Markets - Commodities - Middle East & Africa

Egypt's GASC draws nine offers in wheat tender DHABI/CAIRO: Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), received nine offers from seven companies at its wheat tender on Tuesday, traders said. The lowest offer was at $177.77 per tonne free-on-board for 60,000 tonnes of Russian wheat and was presented by Union company, traders said. GASC held the tender to buy an unspecified amount of wheat from global suppliers for shipment from Nov. 1-10. The tender is the second since Egypt lifted a controversial ban on the common grains fungus ergot in shipments that had all but blocked its access to global grains. Traders said that premiums were lower than at the previous tender, down to about $5-$7 from at least $10 at GASC's purchase last month. Results are expected later on Tuesday. Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Ghana sets 2016/17 season farmgate cocoa price at $1,914 per tonne TEPA: Ghana will pay cocoa farmers 7,600 cedis ($1,914) per tonne for the 2016/17 season, 11.8 percent higher than the amount it paid last season, deputy finance minister Cassiel Ato Forson said on Saturday as he announced the start of the new season. Cocoa regulator Cocobod is targeting production of 850,000-900,000 tonnes for the October-September crop year. Officials say the industry fell short of the 850,000-tonne target for the just-ended season.Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Egypt's FIHC buys 30,000 T soybean oil, 37,000 T sunflower oil CAIRO/ABU DHABI: Egypt's Food Industries Holding Company (FIHC) bought 30,000 tonnes of soybean oil and 37,000 tonnes of sunflower oil in a tender, Cairo-based traders said. FIHC purchased the 30,000 tonnes of soybean oil from ADM at $810.50 a tonne cost and freight. FIHC also bought 10,000 tonnes of sunflower oil from ADM at $791.50 a tonne C&F, 15,000 tonnes of sunflower oil from Glencore at $788.50 a tonne C&F and 12,000 tonnes of sunflower ...

Markets - Commodities - Middle East & Africa

Egypt's GASC says seeking 50,000 tonnes raw sugar in tender ABU DHABI: Egypt's state buyer, the General Authority for Supply Commodities (GASC), said on Tuesday it was seeking 50,000 tonnes of raw sugar in a tender. Offers are on a cost, insurance and freight basis (CIF) and the deadline for bids is Oct. 1, GASC said. The tender is for two arrival periods from Oct. 15-30 and Nov. 1-15. Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Ghana cocoa regulator says to close 2015/16 season on Thursday ACCRA: Ghana will close its 2015/16 cocoa season on Thursday after a year in which dry weather contributed to around an 8.2 percent production shortfall against a 850,000 tonne target set by industry regulator Cocobod. The timing of Cocobod's decision is to allow buyers and farmers to prepare for the 2016/17 crop which is expected to open in early October. "All licensed buying companies are kindly requested to wind up all operational activities of the ...

Markets - Commodities - Middle East & Africa

Morocco seeks 303,637 tonnes of US soft wheat RABAT: Morocco's grain agency ONICL launched a tender on Tuesday to buy 303,637 tonnes of US soft wheat under a preferential tariff agreement. ONICL said will open bids on Oct. 5 and shipments should arrive at Moroccan ports by Dec. 31 at the latest. Lots should be a minimum of 5,000 tonnes.Earlier this month, Morocco bought 235,000 tonnes of US soft wheat and 310,000 tonnes of European Union soft wheat under the same agreement. The ...

Markets - Commodities - Middle East & Africa

Ivory Coast rain boosts cocoa crop, sun needed to avoid disease ABIDJAN: Heavy rain that continued last week in most of Ivory Coast's main cocoa growing regions will improve the size of the upcoming main crop, farmers said on Monday, but more sun is needed to ward off disease.The 2016/17 marketing season in the world's top cocoa producer will officially open on Oct. 1 with the start of main crop harvesting. A new guaranteed farmgate price, based on forward sales, is due to be set this ...