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Middle East & Africa


Iraq buys 120,000 T rice from US, Vietnam and Uruguay HAMBURG: Iraq's state grains buyer has purchased a total 120,000 tonnes of rice in an international tender that closed this week to be sourced from the United States, Vietnam and Uruguay, European traders said on Thursday.The tender from Iraq's state grain board for at least 30,000 tonnes closed on Sunday and offers had to remain valid until Thursday.Traders said 30,000 tonnes to be sourced from the United States was purchased at $715.75 a tonne c&f free out, 30,000 tonnes of Vietnamese jasmine rice was purchased at $668.00 a tonne c&f free out and 60,000 tonnes from Uruguay was purchased at $717 a tonne c&f free out.In its previous rice tender reported on April 25, Iraq's state grains board had rejected all offers and made no purchase after Thailand-origin rice was offered at the lowest price. Copyright Reuters, 2014 ...

Kenya coffee prices ease at latest sale NAIROBI: The top price of the benchmark Kenyan coffee grade eased to $328 per 50 kg bag at this week's auction from $385 last week, the Nairobi Coffee Exchange said.Kenya is a relatively small producer of coffee but its beans are much sought after by roasters to blend with those of lower quality from other producing countries.The benchmark grade AA sold at $121-$328 per bag, compared with $181-$385 last week, NCE said after the auction ...
Ivorian cocoa arrivals seen at 1,467,000 T by June 1 ABIDJAN: Cocoa arrivals at ports in top grower Ivory Coast reached around 1,467,000 tonnes by June 1 since the start of the season on October 2, exporters estimated on Monday. In the same period of the previous season cocoa arrivals were at 1,238,000 tonnes. Exporters estimated that around 32,000 tonnes of beans were delivered to the West African state's two ports of Abidjan and San Pedro between May 26 and June 1, up from 22,000 ...
Ivory Coast coffee output to fall short of forward sales ABIDJAN: Ivory Coast's robusta coffee output this season is expected to fall short of volumes sold forward by the country's marketing board, said exporters who worry they may face costly defaults on contracts with clients. Under reforms introduced last season, Ivory Coast abandoned more than a decade of sector liberalisation. The Coffee and Cocoa Council (CCC) now sells forward export clearances for the bulk of the anticipated crop in order to fix a guaranteed price ...
Egypt has bought about 3.5mn tonnes of local wheat CAIRO: Egypt, the world's biggest wheat importer, has bought about 3.5 million tonnes of local wheat from farmers since the harvest began last month, state media reported on Friday.The government wants to buy more of the local crop to cut its food imports bill and is aiming to buy 4.4 million tonnes of local wheat in the harvest that ends next month. Supplies Minister Khaled Hanafi was quoted by state-run al-Ahram newspaper's website as saying ...
Egypt could revise wheat import rules, raises hope for French supply ABU DHABI: Egypt, one of the world's largest wheat importers, is studying changes to its wheat import specifications, including potentially relaxing a tough moisture content rule that has locked out French grain since its introduction in January.Egypt exerts a strong influence over the global wheat market with its imports of 10 million tonnes per year, split more or less equally between Egypt's main state-buyer, the General Authority of Supply Commodities (GASC) and private importers.France is ...
Egypt's GASC says could revise wheat import specifications ABU DHABI: Egypt, one of the world's largest wheat importers, said on Wednesday it was studying changes to its wheat import specifications to ease the process.Mamdouh Abdel Fattah, vice chairman of the General Authority of Supply Commodities (GASC), said all conditions would be reviewed, including wheat moisture content which is currently set at a maximum of 13 percent. "The main aim is to make the process of importing wheat easier," Abdel Fattah told Reuters over ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln