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Middle East & Africa

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I.Coast ups cocoa farmer price, curbs exporter competition ABIDJAN: Ivory Coast raised the minimum price payable to cocoa farmers and capped the amount exporters can pay for beans at ports on Wednesday, as the world's top grower increased state regulation ahead of a new harvest.The twin decisions, taken as Ivory Coast embarks on its second season since reintroducing price controls, aim to boost farmer incomes while preventing small exporters from being squeezed out of the market.The West African nation abandoned a decade of liberalisation last year to fix a guaranteed price for the 2012/13 season by selling forward the bulk of its crop.The minimum farmgate price for the new October-to-March main crop of 750 CFA francs ($1.55) per kilogramme, decided at a cabinet meeting chaired by President Alassane Ouattara, represents a 25 CFA per kilogramme increase from last year.Exporters said the price rise was likely to discourage smuggling to neighbouring Ghana, the number two producer, which is expected ...

Sudan currency falls to record low ahead of listing of fuel subsidies KHARTOUM: Sudan's currency has fallen to a record low against the dollar on the black market as people rush to change savings into hard currency ahead of a lifting of fuel subsidies expected to drive up inflation, dealers said on Saturday.There is little foreign trading in the Sudanese pound but the black market rate is a key indicator of the mood of the business elite and of ordinary people left weary by years of economic ...
Ghana signs $1.2bn cocoa loan for 2013-14 crop purchases ACCRA: Ghana's cocoa industry regulator Cocobod has signed a $1.2 billion syndicated loan from international banks for 2013/14 cocoa crop purchases as against $1.5 billion for 2012/13, it said on Friday.The credit facility between Cocobod and a consortium of international and local banks, led by French lender Societe General, will enable Cocobod to raise funds to purchase 830,000 tonnes of cocoa from farmers for the season.Ghana is the world's second largest cocoa exporter after Ivory ...
Ivory Coast Oct-Aug coffee exports down 13pc ABIDJAN: Ivory Coast's coffee bean exports fell more than 13 percent to 74,925 tonnes from October 2012 to August 2013 compared with the same period last season, provisional port data showed on Wednesday. Copyright Reuters, 2013 ...
Kenyan tea prices rise at auction NAIROBI: The average price of Kenya's top grade Broken Pekoe Ones tea climbed to $3.91 per kg at this week's auction from $3.82 per kg last week, Africa Tea Brokers (ATB) said on Tuesday.Kenya is the world's top black tea exporter and tea is a leading foreign exchange earner in east Africa's largest economy.ATB said Best Broke Pekoe Ones sold at $3.40-$4.41 per kg, from $3.54-$4.10 per kg last week.Brighter Pekoe Fanning Ones (PF1s) fetched ...
Egypt's FIHC seeking 20,000 T soyoil and 20,000 T sunflower oil ABU DHABI: Egypt's state-owned Food Industries Holding Company is seeking 20,000 tonnes of sunflower oil and 20,000 tonnes soybean oil in a tender, a Cairo-based trader said on Sunday.The oil is for arrival Oct. 1 to Oct. 20 and local delivery for soybean oil offers in Egyptian pounds is from Sept. 10 to Oct. 20, the trader said.The closing date for the tender is September 5.Copyright Reuters, 2013 ...
Dry weather to boost Nigeria's main cocoa crop after heavy rains LAGOS: Drier weather in Nigeria's main cocoa-growing regions has increased hopes of a healthy crop this September, after heavy rains subsided to gave farmers breathing space to dry their beans.Cocoa futures hit multi-month highs on Tuesday, as speculators bought up the key chocolate ingredient on concerns over unfavourable weather in West Africa, the main growing region. They were mostly concerned about lack of rain, although Nigerian farmers have been more worried about too much of ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln