23 C
Lagos, South Africa and New York
Saturday, July 4, 2020

Gold rises after Trump proposes more tariffs on China

Gold prices rose on Friday as investors sought safer assets after U.S. President Donald Trump proposed 100 billion dollars in new tariffs on China, raising concerns about an escalating trade spat between the United States and China. Spot gold was 0.4 per cent higher at...

Nigeria’s Cocoa Crop Shows High Mold Levels

By Tolani Awere Persistent rains have made drying of beans difficult The main crop accounts for about 70% of Nigeria’s output Initial harvests of Nigeria’s main-crop cocoa arriving at ports and warehouses show high levels of mold in the major producing southwest region due to a prolonged...

W. Africa Crude-Trade limited with fewer arbitrage opportunities

LONDON, Sept 29 (Reuters) - Trade was limited on Friday with unchanged offers that were deemed too high amid weakening demand, particularly in Asia, owing to the wide spread between the European and Asian benchmarks. Advertisement * Angola’s state firm Sonangol has appointed three new board...

Oil steady, supported by Iraq disruptions and drop in U.S. rigs

Devika Krishna Kumar NEW YORK  - Oil prices were little changed on Monday as supply disruptions in Iraq dented exports by OPEC’s second-largest producer and U.S. drilling rates showed a slowdown. Oil exports from southern Iraq have fallen by 110,000 barrels per day this month, according...

Prices of garri crash in Enugu markets

Prices of garri, a stable food on Nigerians table, continued to crash in some Enugu markets. A market survey in some major markets in Enugu metropolis on Saturday revealed that the prices of the white and red garri nosedived by about 36 per cent. Some sellers...

Nigerians pay $650 per tonne for steel scrap as Kogi Iron plans local output to ease price

With estimated local demand for Steel usage in Nigeria said to be US$6.8bn as Nigerians pay around US$650 per tonne for delivered steel scrap. That’s the salient fact to bear in mind when it comes to reckoning up the opportunity offered by Kogi...

Rains swell Ivory Coast cocoa crop

Abidjan — Mixed rains fell over Ivory Coast’s cocoa-growing regions last week, farmers said on Monday, with more showers needed in some areas to boost the April-to-September mid-crop. The rainy season in the world’s biggest cocoa producer runs from mid-March to late October, with heavy...

CBN plans single-digit interest loan for oil palm producers

Investing Tuesday, March 19,2019 The Central Bank of Nigeria on Monday unveiled fresh plans to revive the palm oil value chain to enable the sector to generate foreign exchange and reduce the level of unemployment in the country. The CBN Governor, Mr Godwin Emefiele,  unveiled the strategies...

Steep New York cocoa premium drives demand for African shipments -traders

NEW YORK/LAGOS, May 14 - Cocoa dealers are snapping up West African beans for import to the United States, according to trade sources, as they seek to profit from the steepest premium for the chocolate ingredient in over 40 years in the New...

Ghana 2018/19 cocoa output expected to drop 6 pct due to disease, drought

Ange Aboa SUNYANI, Ghana (Reuters) - Ghana’s cocoa output is expected to drop nearly 6 percent this season to 850,000 tonnes because of disease and dry weather, sources at the cocoa regulator, COCOBOD, said on Wednesday. ADVERTISEMENT Ghana previously forecast production of 900,000 tonnes, the same as...
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