28 C
Lagos, South Africa and New York
Wednesday, June 3, 2020

CBN’s Anchor Borrowers Programme targets 100,000 local cotton farmers in 2019

The Federal Government has said that the Central Bank of Nigeria’s (CBN)’s Anchor Borrowers Programme (ABP) for 2019 is targeting 100,000 cotton farmers across the country. The Minister of State for Industry, Trade and Investment, Hajiya A’isha Abubakar, disclosed this on Wednesday in Zaria, Kaduna...

London March cocoa expiry sees 120,120 tonnes tendered

LONDON, March 17 (Reuters) - A total of 120,120 tonnes of cocoa was tendered against the ICE March London cocoa contract, exchange data showed on Friday. The delivery against the March contract, which expired on Thursday, was mostly made up of 90,450 tonnes of cocoa...

Nigerian local cocoa processors near bankruptcy as bank takeover assets

FTN Cocoa Processors Plc is facing a threat to its continuity as its bankruptcy issue heightens. The firm, which has not held any Annual General Meeting or declared dividends for the past two years, explained in a statement to the Nigerian Stock Exchange on Wednesday...

GRAINS-CBOT wheat rallies on short-covering; corn firms, soy falls

* GRAPHIC: Commodity prices in 2019: tmsnrt.rs/2Tku3Tn (Updates with closing prices, adds details) By Mark Weinraub CHICAGO, March 14 (Reuters) - Chicago Board of Trade wheat futures rallied on Thursday for the second time in three days, hitting their highest in more than a week as...

Nigeria’s lack of storage facilities at seaports discouraging cashew trade – Exporter laments

A cashew nuts exporter, Mr Mathew Obot, has appealed to the federal government to provide storage facilities at the country’s seaports to enhance preservation of commodities before export. Obot made the appeal in an interview with the News Agency of Nigeria (NAN) on in Lagos...

Nigeria’s Tariff on Wheat Importers Grossly Affecting Local Millers

Chris Uba The Lagos Chamber of Commerce and Industry (LCCI) has faulted the federal government’s policy on wheat, saying heavy import tariff on the commodity was adversely affecting millers in the country. This, the chamber also argued may snowball into a tariff bout between Nigeria...

Nigeria targets 5,760 tonnes yam export in 2019

The Technical Committee on Nigeria Yam Export say it is targeting the exportation of no fewer than 5,760 tonnes of yam to different countries in 2019. Yams Prof. Simon Irtwange, Chairman of the committee told the News Agency of Nigeria (NAN) in Abuja...

Gold treads lower on improved risk appetite; palladium at record high

BENGALURU (Reuters) - Gold prices edged lower on Wednesday as a likely end to a long-drawn Sino-U.S. trade war boosted risk sentiment, outweighing expectations of a pause in interest rate increases by the Federal Reserve. Gold bars are displayed at a gold jewelry shop...

Gold to record Weekly Gain as Global Jitters Boost Haven Demand

Metal trades near $1,300 after futures breached key level Traders and analysts bullish for 8th week in Bloomberg survey Gold is headed for a third weekly gain after turbulent equity markets sent investors hunting for haven assets amid...

METALS-Copper hits 3-1/2 month low, China data reinforces demand angst

Pratima Desai * Fund selling takes copper to September lows * Premium for cash over three-month aluminium contracts (Updates with official prices, comment) By Pratima Desai LONDON, Jan 2 (Reuters) - Copper...