07282016Thu
Last update: Thu, 28 Jul 2016 03pm

Middle East & Africa

Markets - Commodities - Middle East & Africa

Ghana says 2016 gold production to dip to 2.7mn ounces ACCRA: Ghana expects to produce 2.7 million ounces of gold in 2016, down marginally on the previous year as new production offsets a decline in output due to lower global gold prices and ageing mines, the Chamber of Mines said on Wednesday. Gold is the single biggest revenue earner for the West African commodities exporter which is following a three-year aid deal with the International Monetary Fund to restore its fiscal balance. Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Egypt's local wheat purchases reach 4.537mn tonnes CAIRO: Egypt's government has bought 4.537 million tonnes of local wheat since the start of the season on April 15, the ministry of agriculture said on Tuesday. The government had set a purchasing target of 4 million tonnes but having reached that level last week the agriculture ministry said it was committed to buying any wheat that local farmers wished to sell until the end of the season.The supply ministry has said it will probably ...

Markets - Commodities - Middle East & Africa

Egypt's local wheat buying at 4.464 million tonnes ABU DHABI: Egypt's government has bought 4.464 million tonnes of local wheat since the start of the season on April 15, the ministry of agriculture said on Monday.The figure surpasses a target of 4 million tonnes that was set by the government at the beginning of the season.The agriculture ministry has said it was committed to buying any wheat that local farmers wished to sell until the season ends. The supply ministry has said it ...

Markets - Commodities - Middle East & Africa

South African wheat prices hit record high on import tariffs JOHANNESBURG: South African wheat prices hit an all time high on Thursday as the market reacted to an expected 30 percent hike in import tariffs due to a weak rand and falling global prices.Africa's most industrialised economy is set to increase the tariff to 1,591.40 rand ($102.58) from 1,224.30 rand currently, according to a notice on the South African Grain Information Services website published on late on Wednesday.The expected tariff hike is based on a ...

Markets - Commodities - Middle East & Africa

Ivory Coast, Ghana cocoa output lower than expected in 2015-16 BAVARO: Ivory Coast and Ghana, the world's top cocoa growers, will produce less cocoa than previously expected in the 2015-16 season, an executive at the International Cocoa Organization (ICCO) said at an industry conference on Tuesday. Ivory Coast is expected to produce 1.65 million tonnes of cocoa in 2015-16, down from a previous forecast of 1.69 million tonnes, and well short of the 1.796 million tonnes grown in the prior season, said Laurent Pipitone, ICCO's ...

Markets - Commodities - Middle East & Africa

Egypt's supply minister says local wheat buying to end mid-June CAIRO: Egypt's Supply Minister said on Wednesday the local wheat purchasing season would end mid-June. The minister made his comments after the agriculture ministry announced earlier on Wednesday that the government had purchased 4.076 million tonnes of local wheat so far in the season which started April 15, surpassing an initial target of 4 million tonnes. "We will continue buying until mid-June," Khaled Hanafi told Reuters. The world's largest importer of the grain had planned ...

Markets - Commodities - Middle East & Africa

Egypt local wheat buying tops 4 million tonnes CAIRO: Egypt's agriculture ministry has bought 4.076 million tonnes of local wheat since the start of the season on April 15, it said on Wednesday. The world's largest wheat importer had said it planned to buy 4 million tonnes domestically in a local buying season which usually ends around July. The agriculture ministry said in a statement the government was committed to receiving all the wheat from farmers who wish to sell until the season ...