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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 a 44-month low of $6,376.25 on Wednesday."Whatever they are making now is within very profitable levels. The worst case scenario they have planned for is falls below $5,000 and I don't think prices will reach that level," Yaluma told Reuters."They would only be threatened if prices fell well below $5,000."Zambia produced 915,773 tonnes of the red metal between January and November 2013, up from 755,359 tonnes in the corresponding period of 2012.Exports of the metal ...

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 ...
Top price for Kenyan coffee drops at auction NAIROBI: The top price of Kenya's benchmark coffee grade fell to $441 per 50 kg bag at this week's auction from $626 per bag last week, the Nairobi Coffee Exchange (NCE) said on Wednesday.Kenya's speciality coffee beans are known for their high quality and are sought after by roasters for blending with coffee of lesser quality.Grade AA fetched $205-$441 per bag compared with $202-626 at the previous sale, while grade AB sold at $163-352 versus ...
Egypt imports official suspected of corrupt rice deals, not wheat CAIRO: Egypt referred an import official from the General Authority for Supply Commodities (GASC) to administrative prosecutors on suspicion of corruption over local rice deals, not wheat, the Supplies Ministry spokesman told Reuters on Sunday. Egypt is the world's biggest wheat importer and any loss of confidence in that trade could have had significant consequences for the market. "The case has no relation at all with wheat, it is about dealings to purchase local rice ...
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 ...
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 ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln