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Last update: Tue, 31 May 2016 10am

Middle East & Africa

Markets - Commodities - Middle East & Africa

Cameroon cocoa prices steady after January export fall YAOUNDE: A fall in January exports meant cocoa prices remained steady in Cameroon, Africa's fourth-largest cocoa producer, through mid-February after a slight rise last month.Buyers paid between 1,475 CFA francs ($2.48) and 1,600 CFA francs per kg in the Centre region, while prices ranged between 1,200 CFA francs and 1,400 CFA francs in the South, Southwest and East regions.Andre Belebenie, the national president of the cocoa and coffee producers of Cameroon, said a decline in exports in January could explain the prize freeze. Exports fell from 38,748 tonnes in Dec. 2015 to 21,564 tonnes in January."(With) the buyers having slowed their activities for reasons we don't understand, the price remains blocked," said Belebenie, adding: "When there is activity, we sell to the highest bidder and farmgate prices climb."Emmanuel Awaha Nkok, a cocoa farmer in the Centre region, said he believed the quality of beans and production, along with prices, would ...

Markets - Commodities - Middle East & Africa

Egypt's strategic wheat reserves to last until start of June ABU DHABI: Egypt's strategic wheat reserves are enough to last until the start of June, Supply Minister Khaled Hanafi said in a statement on Saturday. Egypt's state-owned General Authority of Supply Commodities (GASC) bought 240,000 tonnes of wheat from France and Russia in a tender on Friday.Egypt, the world's biggest importer of wheat, has seen its huge grain purchasing programme disrupted this year by conflicting quality rules from the supply ministry and the agriculture ministry ...

Markets - Commodities - Middle East & Africa

Cameroon cocoa exports down sharply in January on weak prices YAOUNDE: Cameroon's cocoa exports nearly halved in January as farmers hoarded crops, waiting for prices to rise, the government said on Thursday. Exports dropped to 21,564 tonnes in January, down from 38,748 in December and 34,731 in November, according to the National Cocoa and Coffee Board (NCCB). "This export decline in January 2016 compared to the previous month is due to lower commodity prices. Some organisations have preferred to keep a portion of their harvest ...

Markets - Commodities - Middle East & Africa

Egypt rejects US soybean cargoes ABU DHABI/CAIRO: Egypt's agricultural quarantine authority has rejected four cargoes of US soybean on quality concerns, four traders told Reuters on Monday. "The four vessels are around 30,000 tonnes each and are all of US origin, the problems all happened this month," one Cairo-based trader said. "The official rejection letters are soon to be issued," another trader said. The cargoes were destined for private buyers. The head of Egypt's quarantine authority was not immediately available ...

Markets - Commodities - Middle East & Africa

Iran aims to buy 9mn tonnes of domestic wheat: Press TV DUBAI: Iran expects to buy 9 million tonnes of wheat from domestic farmers in the next harvest year beginning on March 20, Deputy Agriculture Minister Abdol-Mahdi Bakhshandeh was quoted as saying on Monday."Strategic wheat stocks are in very good condition and we have reserves for more than six months," state-run Press TV quoted Bakhshandeh as saying, citing a report from the Mizan Online news agency.Iran plans to turn itself into a major exporter of wheat ...

Markets - Commodities - Middle East & Africa

Iraq issues tender to buy at least 90,000 tonnes rice from US-trade HAMBURG: Iraq's state grains buyer has issued an international tender to buy at least 90,000 tonnes of rice to be sourced from the United States, European traders said on Monday. The closing date for the tender is Feb. 21 and offers must be valid until Feb. 25, traders said.Volumes in Iraq's rice tenders are nominal and the country frequently buys more than was tendered for.Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Congo's copper output falls on low prices, gold rises KINSHASA: Copper production in Democratic Republic of Congo dropped for the first time in six years in 2015 and this year could be another tough one as low commodity prices bite, the Central African country's chamber of mines said on Wednesday.Output dropped 3.3 percent in Africa's top copper producer to 995,805 tonnes from 1.03 million tonnes in 2014, the first time production fell since the global economic downturn in 2009.The sharpest fall was in the ...