Commodities
News : Commodities
Uganda: Dollar Appreciation Hikes Export PricesUGANDAN exports were expensive in March compared to January and February of this year due to fluctuations in the exchange rate that pushed down the index on prices of exports by 0.2 percent. Tea, coffee and fish were affected variously in the international market by the change of index. (AllAfrica)
South Africa: Gold Price Still in Up Cycle, But Analyst Warns of 'Bumpy Ride'GOLD analysts predict that the gold price will regain its upward momentum, but warn investors to expect a bumpy ride. (AllAfrica)
South Africa: Warrants ReportGOLD spent most of yesterday in a consolidation near the all-important psychological level of $600 to post its first higher low in five days. Additional support is provided by a three-month trendline. (AllAfrica)
Uganda: Transport Costs Push Food Prices UpHIGH transportation costs, coupled with increasing demand in southern Sudan have kept foodstuff prices relatively up despite increased supplies, The New Vision weekly survey has shown. (AllAfrica)
PanAfrica: Starbucks Wants More Rwandan CoffeeA United States coffee giant would buy more coffee from Rwanda, said the company's European-based head of global purchasing. (AllAfrica)
Kenya: 500 Jobs in Tea Industry Under Threat If Machines IntroducedControversy over the introduction of tea harvesting machines resurfaced in Parliament with and an assistant minister admitting that 500 new jobs are under threat. (AllAfrica)
Zimbabwe: 'New Farm Takeovers Threaten Sugarcane Production'A new wave of farm takeovers in the Lowveld is threatening sugarcane production while the current shortage of sugar on the formal market is a result of unchecked exports, the House of Assembly heard yesterday. (AllAfrica)
South Africa: Gold, Markets Knocked By US Rate-Hike FearsGOLD slipped yesterday while the dollar climbed to its highest level in almost three weeks against the euro as investors raised their bets that the US Federal Reserve would raise interest rates at its next meeting. (AllAfrica)
South Africa: Exchange-Traded Gold Securities Challenge MinersONE OF the issues raised by JPMorgan analyst Steve Shepherd at yesterday's presentation on exchange-traded gold securities was whether this new form of investment had "cannibalised" the gold companies' shares. (AllAfrica)
South Africa: Potential Aplenty in Gold SecuritiesTHE potential global market for exchange-traded gold securities could expand to about $1,2-trillion from $9bn at present if pension funds allocate only 2% of their assets to the sector. (AllAfrica)
Zambia: Price of Copper May Remain SubduedIt is a development over which Government and other stake holders in the economy have no control whatsoever. (AllAfrica)
Zimbabwe: Harare Mortgages Unmined Minerals to Secure CreditZIMBABWE, reeling from an acute hard currency crisis, is mortgaging mineral resources to secure lines of credit to import fuel and other critical essentials. (AllAfrica)
South Africa: Warrants ReportCOMMODITY prices have come under increasing pressure lately. There are good reasons for a pause in the longer-term upward trend of prices. (AllAfrica)
Kenya: Cabinet Backs Team to End Tea Picking RowA team picked to resolve the row over tea picking in estates owned by multinational firms has been endorsed by the Cabinet. (AllAfrica)
Zimbabwe: Government, Cotton Industry Agree to Uphold ResolutionGOVERNMENT and players in the cotton industry last week finally agreed to uphold the October 5 resolution which stipulates that export permits should be granted in line with resources invested in the crop's production. (AllAfrica)
Rwanda: US Interests in Conflict And Coffee Combine to Help RwandaA U.S. professor and a group of American students are exploring the link between Rwanda's expanding coffee market and the troubled nation's path to social harmony after genocide. (AllAfrica)
Liberia: Hardship CreepingAfter defeating her archrival of the Congress for Democratic Change (CDC), Ambassador George Weah in the run-off elections in November 2005 and grabbing the popular mandate of the Liberian people, the power of the Ellen Johnson-Sirleaf Unity Party (UP) led government is said to be cracking from all angles from the torrents of hardships under the UP government. (AllAfrica)
Uganda: Non-Coffee Exports Value Rises to $59mTHE value of non-coffee exports has increased to $59.27m (sh108.4b) from $52.55m (about sh97b) over the last seven months, with fish and maize fetching the highest value, a Bank of UGANDA (BOU) report has said. (AllAfrica)
Rwanda: Internet And Coffee Make a Robust Combination in RwandaProduction of high quality coffee in Rwanda will soon get a jolt of technology as an innovative program to connect coffee-washing stations to the Internet takes effect. (AllAfrica)
Kenya: Minister Acts to Pre-Empt Strike Over Tea MachinesA showdown looms between the Government and the 80,000 tea plantation workers over a strike planned for today. (AllAfrica)
Uganda: Kakira Expansion CompletedWORK on the $43m Kakira Sugar Works (KSW) factory expansion project that will boost production is in the final stages. (AllAfrica)
Zimbabwe: Cotton Council, Industry Players Hit Stalemate Over Export PermitsIT was a stalemate on Tuesday at the National Cotton Council (NCC) meeting after industry players failed to agree on the basis to be used for granting export permits this season. (AllAfrica)
Zambia: Country Can Be Proud of Miners' EffortsTHE glittering copper prices on the world market have no doubt turned around several economies and Zambia is one such producing country that has benefited. (AllAfrica)
South Africa: Warrants ReportTHE recovery of the dollar over the past three trading days has seen the gold price give up almost $60/oz from its $730/oz high. (AllAfrica)
South Africa: Market Flummoxed By GoldIT's little wonder that Allan Gray, the asset manager, is running a series of rather haughty ads about how most things in life -- relationships, cars and more -- don't last as long as their track record. (AllAfrica)
South Africa: The Alternative to Hiding Gold Under Your MattressALMOST no one thought the gold price would do what it has done in the past year or so. After a slow climb upwards from 2001, the gold price suddenly vaulted itself into the stratosphere in May last year, having risen over 30% this year alone. (AllAfrica)
South Africa: Mittal SA Share Price Falters As Low Steel Prices Erode EarningsMITTAL Steel SA's share price fell as much as 4,5% on Friday after the company said first-quarter headline earnings were 57% lower than in the corresponding period last year, as a result of lower world steel prices and increased costs. (AllAfrica)
Uganda: Frequent Power Cuts Push Food Prices UpESCALATING electricity and fuel prices, coupled with persistent food crisis in the region, have pushed commodity prices up, The New Vision weekly survey has shown. (AllAfrica)
PanAfrica: Botswana to Host Pan African Commodities ExchangeBotswana is set to host the first ever Pan African commodities and derivatives exchange (PACDEX Africa) in what is likely to further boost its position as an international financial services hub. Discussions on the formation of an African-owned commodities exchange to stimulate the economies of African countries were concluded after a three-day forum in Gaborone on Wednesday. (AllAfrica)
PanAfrica: GM Cotton Cuts Pesticide Use, Says StudyA US study has concluded that genetically modified cotton can offset some of the environmental impacts of intensive agriculture by reducing pesticide use. (AllAfrica)
Zimbabwe: Golden Leaf Fails to Spur Sluggish MarketZIMBABWE'S tobacco sales season, which commenced a fortnight ago, has failed to inject life into the interbank foreign exchange market, which is struggling to get enough volumes to move the exchange rate, businessdigest can reveal. (AllAfrica)
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