12112016Sun
Last update: Sun, 11 Dec 2016 06pm

Middle East & Africa

Markets - Commodities - Middle East & Africa

Ivory Coast allows cocoa exporters to roll over 2015/16 contracts ABIDJAN: Ivory Coast will allow cocoa exporters to roll over last season's unexecuted export contracts into the current 2016/17 season, according to a document from the marketing board, the Coffee and Cocoa Council (CCC), seen by Reuters. Exporters said the measure was intended to help companies avoid defaulting on contracts and could involve between 60,000 and 120,000 tonnes of beans. The world's top cocoa grower sells forward the bulk of its anticipated crop and uses the average sale price to fix a guaranteed minimum price for farmers.However, cocoa arrivals at Ivory Coast's two ports dropped by nearly 13 percent in 2015/16 compared to the previous season, and the lower output, caused by poor weather, left many exporters struggling to find beans to fill contracts. The 2016/17 season opened at the start of October. "Contracts from the 15/16 main crop and mid-crop not executed by Sept. 30 and not covered by ...

Markets - Commodities - Middle East & Africa

Algeria buys at least 400,000 tonnes wheat in tender PARIS: Algeria's state grains agency OAIC bought at least 400,000 tonnes of optional-origin wheat in a tender that closed on Tuesday, European traders said on Wednesday. Prices paid ranged from $201 to $201.50 a tonne, cost and freight included, and shipment was for January, they said.OAIC does not publish details of its grain tenders and results reported by traders are estimates.The wheat was seen as likely to be sourced from the United States, Germany and ...

Markets - Commodities - Middle East & Africa

Egypt Export and Import Control body to lead wheat inspections CAIRO: Egypt's General Organization for Export and Import Control (GOEIC) will replace the quarantine as the body responsible for inspecting strategic agricultural imports, according to a new government decree, after a standoff over wheat hampered trade. The decree, issued by the prime minister and published in the official gazette on Sunday, said the GOEIC would have sole responsibility for inspecting wheat and other important agricultural goods and any such imports would require its approval. The ...

Markets - Commodities - Middle East & Africa

Ivory Coast 2015/16 season cocoa product exports down 10pc ABIDJAN: Ivory Coast exported 391,996 tonnes of semi-finished cocoa products in the 2015/16 season ending in September, down about 10 percent from the previous year, provisional port data showed on Thursday. Output from cocoa grinders fell this year in part because of poor bean quality which forced companies to slow or halt operations. The cocoa season in the world's top producer runs from October to September. Following are official figures for cocoa product exports in ...

Markets - Commodities - Middle East & Africa

Egypt's GASC receives offers for soyoil, sunflower oil tender ABU DHABI/CAIRO: The lowest offer for soyoil presented at an international purchase tender by Egypt's state buyer on Thursday was for $846.46 a tonne cost and freight, Cairo-based traders said. The lowest offer for sunflower oil was at $796.98 a tonne cost and freight, they said. Copyright Reuters, 2016 ...

Markets - Commodities - Middle East & Africa

Kenya tea production likely to jump 3.5pc in 2017 NAIROBI: Kenya is likely to produce 445 million kilos (kg) of tea in 2017, a 3.5 percent jump from expected output of 430 million kg this year, the agriculture industry regulator said on Wednesday. Kenya is the world's No. 1 exporter of black tea, which is one of Kenya's top foreign exchange earners, generating 125.25 billion shillings ($1.24 billion) in revenues in 2015. Farmers have enjoyed good harvests this year, with total output projected to ...

Markets - Commodities - Middle East & Africa

Kenya coffee output likely to rise 4.4pc in 2016/17 crop year NAIROBI: Kenya is likely to produce 47,000 metric tonnes of coffee in the 2016/17 (Oct-Sept) crop year, a rise of 4.4 percent on a year earlier as harvests from newly planted areas in the west offset the impact of dry conditions, the regulator said on Wednesday. Kenya is a small coffee producer, accounting for just 1 percent of the world's annual crop, but roasters seek out its quality arabica beans to blend them with coffee ...