Harvest is that important time of the year where we have an abundance of maize, paddy rice, cocoa, soybean, and other grains coming into all warehouses and markets across the country. Already, farmers are delivering a vast amount of food to the market for sales and warehouses for storage.

The price of Maize on the Exchange last week took an upturn as it grew, closing at 4.83% high thereby overperforming against other commodities.

The price of Maize on the Exchange last week took a downturn as it dipped, closing at 13.17% low while underperforming against other commodities.

The price of maize on the Exchange last week was rather outstanding, closing at 36.41% high and outperforming other commodities.

The outbreak of the COVID-19 pandemic, among other effects, exposed the precarious state of food systems, especially in Africa. It became imperative for national governments to fix challenges across the agricultural value chain within their nation-states.

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Last week, prices of grain commodities, excluding soybeans, rose shapely amid strong demand to maintain a 3-week bullish run. Ginger, however, dipped for the third consecutive week due to lower demand for the commodity.

It was a rather quiet on the Exchange last week. Prices of all commodities remained the same except Sorghum and cocoa. As a result of the price movement in the open market, there was also a reflective decline in the price of Paddy Rice.

Nigeria's leading commodities player AFEX will hold a webinar to launch the 2021 crop production report for key commodities in the Nigerian market.

The Exchange witnessed low activities last week. In the open market, Soybean was down by 11% w-o-w followed by Paddy rice and Ginger with a respective share of 4.52 and 4.58 following early harvest for commodities.

Last week ended with grain prices declining further for the fourth consecutive week in the open market. The Exchange witnessed low activities during the period with trades executed only on Cocoa, Cashew, and Soybean respectively.

Last week, an increased supply of grains in the open market caused prices to decline across most grains, maintaining a 3-week bearish trend. Farmers remain optimistic of a better harvest this year against last year and are positioned to take advantage of higher prices of commodities.

The downward trend in price is expected to continue amid low demand for grain commodities. AFEX Indexes remained flat, however, the ACI still outperforms the S"P GSCI Agriculture Index which measures the performance of agricultural commodities globally.

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The ACI and AEI remained flat as 2020/2021 trading season ends. However, the ACI outperformed the S&P GSCI Agriculture Index season till date as we see the AEI closing up its spread with the later.

For the reporting week, the performance of the AFEX Commodities Index (ACI) stood at -0.59% w/w following price declines across all commodities captured by the index. The AFEX Export Index (AEI) however stayed muted, closing the week at 177.69 index points

The partial closure of China's (the largest exporter of ginger and wheat) container port influenced by the rapid spread of the COVID delta variant is expected to reduce supply of the commodities in the international market which can result in a future temporal price increase.

The AFEX Commodities Index (ACI) remained unchanged week-on-week. closing at 333.74 points as we saw no price change on commodities listed in the ACI (Maize, Soybean, Paddy Rice and Sorghum).

The AFEX Commodities Index (ACI) appreciated sightly by 0.48% (W-o-W) closing the reporting week at 38189 points. The increase in maize price was the major driver of the ACI growth. However, a decline in Soybean price weighed on the performance of the index during the week.

AFEX Commodities Exchange has restated its commitment to food security in Nigeria, with a renewed focus on promoting responsible consumption and production, through the prevention of post-harvest loss as well as a reduction in food wastage along the domestic production value chain.