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World food price rise set to continue if Iran war lasts: FAO

PARIS, April 3 (Reuters): World food prices climbed in March to their highest level since September last year and could rise further if the Middle East conflict that pushed up energy prices continues, the United Nations Food and Agriculture Organization said on Friday."Price rises since the conflict began have been...

Oil giants show early interest in US Gulf deepwater field stake

LONDON/NEW YORK, April 3 (Reuters): European energy majors TotalEnergies and Shell are among companies eyeing a majority stake in one of the US Gulf's most promising sites, three sources with knowledge of the process said, as interest in North American energy prospects rises due to the Middle East conflict.London-listed BP...

China plans to upgrade some petrochemical plants, phase out others by 2029

BEIJING, April 3 (Reuters): China plans to upgrade some outdated petrochemical plants while phasing out others by 2029, a government document released on Friday said.The work will proceed using lists of outdated facilities compiled by ?local governments last year, according to the document issued by the country's industry ministry and...

UAE non-oil private sector growth slows to near four-year low in March, PMI shows

The United Arab Emirates' non-oil private sector activity expanded at its weakest pace in nearly four years in March as the Middle East conflict hit demand and disrupted supply chains, a business survey showed on Friday, reports Reuters.The seasonally adjusted S&P Global UAE Purchasing Managers' Index (PMI) fell to 52.9...

North American farmers pinch pennies on farm machinery as profitless growing season approaches

REGINA, Saskatchewan, April 3 (Reuters): Farm machinery salespeople are wrapping up a dismal season of farm shows across North America as farmers gear up for spring planting without much new equipment.Farmers have not stopped buying, but many have slashed spending and are avoiding big-ticket items due to high machinery, fertilizer...

Turkey lifts customs duty on urea-type goods to protect against rising prices

ISTANBUL, April 3 (Reuters): Turkey has lifted the customs duty on urea-type goods to protect the agricultural sector from cost increases due to the war in Iran, the Trade Ministry said on Friday, adding that the measure also aimed to strengthen fertiliser supply security.The ministry statement said it had also...

LME traders were pricing the wrong metal supply crisis

LONDON, April 3 (Reuters): Metals traders started the year worrying about a looming supply crunch in copper but ended the first quarter facing a very imminent supply crisis in aluminium.The Iran war, now in its fifth week, has dampened some of the speculative frenzy that spilled out of the gold...

Malaysian palm oil closes at 15-month high

KUALA LUMPUR, April 3 (Reuters): Malaysian palm oil futures edged almost 1% higher on Friday to log a fifth straight weekly gain, driven by expectations of lower inventories, Indonesia's B50 biodiesel plans and heightened Middle East tensions.The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange...