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Middle East & Africa


Kenya tea prices fall at latest auction NAIROBI: The highest price for top Kenyan tea fell to $4.00 per kg at this week's auction from $4.13 per kg last week, Africa Tea Brokers (ATB) said on Wednesday. Kenya is the world's leading exporter of black tea and the crop is a major foreign exchange earner for east Africa's largest economy, together with horticulture and tourism. Prices for Best Broke Pekoe Ones (BP1s) sold at $2.94-$4.00 per kg compared with $3.15-$4.13 per kg last week, ATB said. Best Brighter Pekoe Fanning Ones (PF1s) fetched $2.34-$3.30 per kg from $2.30-$2.95 per kg, ATB said. It said 14.82 percent of the 143,489 packages weighing 9,2 million kg offered were left unsold. Last week, 13 percent of the 153,181 packages weighing 9.7 million kg offered were left unsold. Demand was highest from buyers from Pakistan and Afghanistan mostly, while Egyptian, Yemen and Sudan bought lower amounts. Most of the tea sold ...

Kenyan coffee top price climbs at auction NAIROBI: The top price of Kenya's benchmark coffee grade rose to $531 per 50 kg bag at this week's auction from $440 per bag last week, the Nairobi Coffee Exchange(NCE) said. Kenya's speciality coffee beans are renowned for their high quality and are sought after by roasters for blending with coffee of lesser quality. During Tuesday's auction, grade AA fetched $171-$531 per bag, from $220-$440 at the previous sale, while grade AB sold at $151-$370 ...
Ivory Coast tops up cocoa reserve fund to $83mn ABIDJAN: Ivory Coast, the world's top cocoa grower, has topped up a reserve fund to protect against world price fluctuations to 40 billion CFA francs ($83.33 million), a government document showed. The West African nation abandoned a decade of sector liberalisation last season and now sells forward the bulk of its anticipated harvest in order to guarantee a minimum price for growers as part of efforts to improve their incomes. The fund reached 56 billion ...
South African platinum firms to meet mediators JOHANNESBURG: Top global platinum producers in South Africa this week will meet independent mediators to discuss a two-week wage strike, according to the union whose 80,000 workers have downed tools.Earlier talks led by the Commission for Conciliation, Mediation and Arbitration (CCMA) adjourned last week after the firms said they had reached "no settlement" with negotiators of the radical Association of Mineworkers and Construction Union (AMCU)."CCMA will be meeting the employers on Tuesday alone," AMCU president ...
Mediterranean refineries seen winning white sugar trade to Syria DUBAI: Mediterranean refineries are winning business to ship white sugar to Syria, Jamal Al Ghurair, managing director of the Al Khaleej Dubai sugar refinery, said on Sunday. "We can sell sugar to Syria, but it is more competitive from the Med refiners to bring sugar to the Syrian market than from Dubai," Al Ghurair told Reuters in an interview on the sidelines of the Feb. 8-11 Platts Kingsman sugar conference. Ghurair said the main refineries ...
Ivory Coast forward cocoa sales for 2013/14 reach 1.45mn tonnes ABIDJAN: Ivory Coast, the world's top grower of cocoa, has sold its entire 2013/14 crop in forward sales, or more than 1.45 million tonnes, a source in the finance ministry said. "We are currently at more than 1.45 million tonnes already sold and we are focusing our efforts on sales for next season," the source said.Copyright Reuters, 2014 ...
Saudi Arabia says buys 715,000 tonnes of wheat in tender ABU DHABI: Saudi Arabia bought 715,000 tonnes of wheat in a tender for shipment periods between April and June, the Grain Silos and Flour Mills Organisation said on Monday. It bought 595,000 tonnes of hard wheat with minimum protein of 12.5 percent and 120,000 tonnes of soft wheat with minimum protein of 11 percent. The accepted origins are from Europe, North and South America and Australia, at the sellers' option, the GSFMO said. Of the ...


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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