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Middle East & Africa


Ivorian cocoa fetches strong premiums as demand booms ABIDJAN: Cocoa beans in some parts of Ivory Coast are selling at more than a 100 CFA franc premium to the minimum farmgate price, farmers and exporters said, as grinders and exporters rush to secure high-quality stocks.The mid-crop marketing season in Ivory Coast, the world's top cocoa producer, started on April 1. Last week, the government maintained the guaranteed minimum cocoa farmgate price at 750 CFA francs ($1.57) per kilogramme.A purchasing manager at an Abidjan-based international cocoa exporter told Reuters prices at the port reached 860 CFA francs per kg at the end of last week."The quality is good right now compared to last season. The grinders and exporters are in a hurry to snap it up before the quality deteriorates," he said.In the western region of Bouafle, competition was fierce and some buyers were paying well above the farmgate price."We have good quality cocoa but we don't know how ...

Kenya's average tea price down by a quarter in December NAIROBI: The average price of Kenyan tea was down by a quarter in December to $2.46 per kg from the same month a year earlier, the industry regulator said on Thursday. The Tea Board of Kenya said production of the crop, which is one of the country's top foreign exchange earners, edged up to 41.7 million kg from 41.4 million kg in December 2012.The average price for a kg of tea during the calendar year ...
South Africa's rand holds steady against weakened dollar JOHANNESBURG: South Africa's rand held within a recent range against the dollar on Tuesday as concerns about economic growth in the United States knocked the greenback off its recent highs. The dollar was pressured by disappointing manufacturing data in the previous session that raised fears about growth in the world's largest economy.The rand was at 10.8250 to the dollar at 0656 GMT, firming slightly from Monday's close but remaining within its trading levels. "Global markets ...
Egypt allocates $1bn for local wheat purchase CAIRO: The Egyptian government expects the domestic wheat harvest to reach 9.5 million tonnes and has allocated seven billion Egyptian pounds ($1 billion) to buy wheat from farmers, the agriculture minister was quoted as saying on Saturday.Ayman Abu Hadid said in remarks published by the official Al Gomhuria newspaper the government would start its purchases in mid-April and pay farmers 420 pounds per Ardeb (150 kg) - around $400 a tonne.Egypt typically buys 3.6 million ...
Copper prices below $5,000 could threaten Zambian mines: minister LUSAKA: Zambian mines are still operating profitably despite the fall in copper prices but could be threatened if the price dropped below $5,000 per tonne, Mines Minister Christopher Yaluma said on Saturday.Copper markets have been edgy over slowing Chinese demand and fears that credit upheaval in the world's second-biggest economy could unwind financing deals using the metal as collateral.Benchmark three-month copper on the London Metal Exchange has been falling steadily since January and sank to ...
Kenya tea prices dip at latest sale NAIROBI: The highest price for top Kenyan tea fell to $3.60 per kg at this week's sale from $3.70 per kg last week, Africa Tea Brokers (ATB) said. Prices for Best Broken Pekoe Ones (BP1s) fetched $264-$360 per kg compared with $2.80-$3.70 per kg last week, ATB said. Best Brighter Pekoe Fanning Ones (PF1s) sold at $2.22-$2.95 from $2.30-$3.02 per kg at the last sale. ATB said 17.72 percent of the 132,739 packages, or 8.55 ...
Uganda's coffee exports up 3pc yr/yr in February NAIROBI: Uganda's coffee exports in February rose by 2.9 percent year-on-year to 354,837 60-kg bags, helped dry weather that has hastened the drying of beans, a state agency said on Thursday. "The central and eastern regions where harvesting is underway have been witnessing dry weather which is very important in fast drying of the beans," said a source at the state-run Ugandan Coffee Development Authority (UCDA). "It (dry weather) is also important because it helps ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln