01172017Tue
Last update: Tue, 17 Jan 2017 10pm

Middle East & Africa

Markets - Commodities - Middle East & Africa

Cameroon cocoa prices fall as drought delays purchases YAOUNDE: Cameroon farmgate cocoa prices fell in August as major buying was delayed by drought in some regions, farmers said on Wednesday.Prices ranged from 1,000 CFA francs ($1.72) per kilogramme of cocoa in the southwest to 1,200 CFA francs in the centre of the central African country, producers said, down from prices as high as 1,700 CFA in July."The crops are lagging behind because of a long drought," said southwest cocoa producer Andrew Nya.Cameroon's cocoa season runs from Aug. 1 to July 1, with a main harvest cycle from October to January/February and a light crop harvest period from April/May to June/July. Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Ivory Coast cocoa exporters see sharp early season output fall SAN PEDRO: Cocoa exporters in top grower Ivory Coast predict output will fall by up to 200,000 tonnes in the first three months of the 2016/17 season compared to the same period of the current crop due to poor rainfall and a lack of carryover stocks. Port arrivals are down nearly 15 percent this season and farmers and industry sources told Reuters they expect little improvement when next season opens at the start of October, ...

Markets - Commodities - Middle East & Africa

Ivory Coast rains help main cocoa crop, some farmers fear disease ABIDJAN: Light rains in most of Ivory Coast's main cocoa regions augur well for the crop in the world's biggest producer, farmers said on Monday, but cloudy weather has stoked fears of disease in the south.Farmers need the right mix of rain and sunny spells in July and August to strengthen the development of pods and avoid cocoa rot and disease ahead of the main crop, which runs from October to March. In the western ...

Markets - Commodities - Middle East & Africa

Mozambique's coal mines shed 4,000 jobs as coal price drops JOHANNESBURG: Nearly 4,000 coal miners have lost their jobs in Mozambique's Tete province over the past year as mining firms such as Brazil's Vale cut back due to lower prices, the African nation's state news agency said on Thursday. Vale, which operates an open cast coal mine in the northwestern part of one of the world's poorest countries, shed 2,348 workers, said the head of Tete province's mineral resources department Portasio Aurelio. Lower coal prices ...

Markets - Commodities - Middle East & Africa

Egypt's GASC announces international tender for raw sugar CAIRO: Egypt's General Authority for Supply Commodities (GASC) said on Wednesday it is seeking raw sugar in a tender. The deadline for submitting bids is Aug. 25 and the sugar is sought for arrival between Oct. 15-30, the head of GASC said. Offers are to be made on a cost and freight basis with a minimum offer of 50,000 tonnes. Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Top price of Kenya's best tea rises at auction NAIROBI: The highest price of the best Kenyan tea grade Best Broken Pekoe Ones (BP1s) rose at this week's sale, Africa Tea Brokers said on Tuesday.Kenya is the world's leading exporter of black tea and the commodity is its leading foreign exchange earner. Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Nigeria cuts 2016/17 cocoa forecast due to black pod, higher costs ABUJA: Nigeria has cut its cocoa output forecast for 2016/17 by up to 10 percent to 300,000 tonnes after rain exposed trees to black pod disease and as farmers struggle with higher cost, the head of the country's cocoa association said on Friday."We were expecting Nigeria to get up to 340,000 tonnes but we are now projecting between 300,000 to 305,000 tonnes (for 2016/17)," Sayina Riman, Cocoa Association of Nigeria (CAN) president, told Reuters. In ...