Oil prices slide on prospect of Saudi Arabia raising output
LONDON, Sept 26 (Reuters): Oil prices slipped on Thursday, reversing earlier gains, on a media report that Saudi Arabia, the world's top crude exporter, will give up its price target in preparation for raising output.Brent crude futures were down $1.62, or 2.2 per cent, to $71.84 a barrel, while U.S....
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Gold near record high
Gold prices rebounded and looked set to scale a fresh peak on Thursday, on mounting expectations for another US interest rate cut this year, while investors awaited Federal Reserve Chair Jerome Powell's address later for more policy cues, reports Reuters.Spot gold climbed 0.4 per cent to $2,668.05 per ounce, as...
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Palm hits five-month high on India demand, supply worries
KUALA LUMPUR, Sept 26 (Reuters): Malaysian palm oil futures hit a five-month high, surging more than 2 per cent on Thursday's close, driven by high demand from India and worries about production supply in major palm-producing countries.The benchmark palm oil contract FCPOc3 for December delivery on the Bursa Malaysia Derivatives...
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Vietnam coffee prices down ahead of new harvest
HANOI/BANDAR LAMPUNG, Indonesia, Sept 26 (Reuters): Coffee markets in major robusta producers in Asia stayed lacklustre, with local prices falling this week ahead of the new harvest in Vietnam, while buyers had already stocked up in Indonesia, traders said on Thursday.Farmers in the Central Highlands, Vietnam's largest coffee-growing area, sold...
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India grants duty concessions for corn, vegetable oil imports
MUMBAI, June 26 (Reuters): India on Wednesday allowed limited imports of corn, crude sunflower oil, refined rapeseed oil, and milk powder under the tariff-rate quota (TRQ), where importers pay nil or lower duty, as New Delhi tries to bring down food inflation.India is the world's biggest importer of vegetable oils...
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