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Cameroon cocoa output slips 8 percent in 2013/14 season YAOUNDE: Cameroon's 2013/14 cocoa production slipped more than 8 percent to 209,905 tonnes compared with 228,948 tonnes the previous season, National Cocoa and Coffee Board (NCCB) data obtained on Friday showed. Cocoa bean exports from the world's fifth largest producer fell nearly 20 percent to 158,000 tonnes from 196,788 tonnes in the 2012/13 season. There were 5,828 tonnes of remaining stocks of beans at the end of the season on July 31. "We had expected that there would be an increase in production for the 2013/14 season to about 240,000 tonnes, but unfortunately it instead declined," Omer Gatien Maledy, head of the Cocoa and Coffee Inter-professional Board (CCIB), said. Maledy said poor weather was mainly to blame for the drop in output. "The rainy season last year was very different from what Cameroon is used to, going on until mid-December and resulting in the black pod disease," he said. Cameroon's ...

Saudi Arabia to cut Oct crude prices to Asia SINGAPORE: Top oil exporter Saudi Arabia is expected to cut October prices for all grades sold to Asia, reflecting weak demand and a stronger Oman price marker, trade sources said on Monday.Flagship Arab Light may also see the biggest cut in its official selling price (OSP) since February, a Reuters survey of four refiners showed.Three of four respondents expect Arab Light's October OSP to be reduced by at least $1 a barrel, the biggest since ...
Kenyan shilling hits lowest since January 2012 NAIROBI: The Kenyan shilling hit its lowest level since January 2012 on Monday, weighed down by concerns that hard currency inflows would be hit by a slump in tourism.At the 1300 GMT close of trade, commercial banks posted the shilling at 88.65/75 per dollar, weaker than Friday's close of 88.25/35.Concerns over dollar inflows have grown in recent months, in large part due to falling business in the key tourist industry, which has been hurt by ...
Iraq rejects offers in tender for 30,000 tonnes of rice BAGHDAD: Iraq's state grains buyer has rejected offers on an international tender to buy at least 30,000 tonnes of rice, a trade ministry official said on Friday. The closing date for the tender was Aug. 11 and offers stayed valid until Aug. 15. "Only three companies submitted offers with high prices, which we decided to reject. A new rice tender will be issued next week," said the official. Iraq made no purchase in a previous ...
Uganda coffee exports drop 20 year/yr in July NAIROBI: Uganda's coffee exports fell 20 percent to 314,304 60-kg bags of coffee in July compared with the same month in 2013 due to drought, regulator Uganda Coffee Development Authority (UCDA) said on Thursday. Coffee exports earned a total $37.8 million compared with $45 million in July 2013, a UCDA source said. Between October 2013 to July 2014, coffee exports stood at 3,028,534 bags compared with 3,039,934 bags that were exported in the year ago ...
South Africa's net reserves dip to $44.315bn in July JOHANNESBURG: South Africa's net gold and foreign exchange reserves were at $44.315 billion in July from $44.828 billion in June, data from the Reserve Bank showed on Thursday. Gross reserves edged higher to $49.89 billion at the end of the month, from $48.647 billion in June, while the forward position, which represents the bank's unsettled or swap transactions, fell to $2.975 billion from $3.117 billion. Economists polled by Reuters expected net reserves to come in ...
Kenya's tea exports inch up in first half of year NAIROBI: Kenya's tea exports rose slightly in the first six months of the year, while average prices at the auction dipped and output was steady, the Tea Board of Kenya said on Wednesday.The east African country exported 250 million kg in January to June, from 246.7 million kg in the same period last year. Output for dipped 0.2 percent to 225.2 million kg, the regulator said in a statement.Kenya is the world's leading exporter of ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln