Thu, 28 Jan 2021

MEXICO CITY -- Mexico registered a record trade surplus of 6.224 billion U.S. dollars in October, amid a rebound in exports mainly to the United States, the National Institute of Statistics and Geography (INEGI) reported on Friday.

Exports in October totaled 41.945 billion U.S. dollars, a year-on-year increase of 2.9 percent, underpinned by non-oil exports, the autonomous statistics agency said in a report.

However, imports in the month declined 13.8 percent annually, to 35.721 billion U.S. dollars, according to INEGI. (Mexico-Trade Surplus)

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COLOMBO -- Sri Lanka's coconut plantations stand to increase revenue by 60 percent with the introduction of tea as an undergrowth crop, state media citing a government official reported here Saturday.

"About 3,000 tea plants can be grown on an acre of coconut plantation, which can increase the annual income by 60 percent. The government will provide cultivation subsidies for this purpose, especially technical and financial assistance for irrigation purposes," Kanaka Herath, State Minister of Company Estate Reforms, Tea and Rubber Estates Related Crops Cultivation and Factories Modernization and Tea and Rubber Export Promotion, said during a project inauguration in the town of Rambukanna, quoted by state-owned Daily News. (Sri Lanka-Tea-Coconut)

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CHICAGO -- Chicago Board of Trade (CBOT) agricultural futures rose across the board on Friday, led by wheat.

The most active corn contract for March delivery rose 6.25 cents, or 1.46 percent, to settle at 4.3375 dollars per bushel. March wheat gained 9.5 cents, or 1.59 percent, to settle at 6.06 dollars per bushel. January soybean climbed 7.75 cents, or 0.65 percent, to close at 11.9175 dollars per bushel. (Chicago-Agricultural Futures)

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NEW YORK -- Oil prices settled mixed on Friday as traders awaited a key meeting by the Organization of the Petroleum Exporting Countries (OPEC) and its allies next week.

The West Texas Intermediate (WTI) for January delivery lost 18 cents to settle at 45.53 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery increased 38 cents to close at 48.18 dollars a barrel on the London ICE Futures Exchange.

OPEC and its allies (OPEC+) are expected to meet on Nov. 30 and Dec. 1. Market participants expect the group would discuss extending the current production cuts during the meeting. (US-Oil Price-Down)

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