Monday, August 24, 2020 / 06:45 PM / Kainosedge
Consulting for AFEX Commodities Exchange / Header Image Credit: AFEX Commodities Exchange
The AFEX Commodities Composite experienced a decline,
closing at 250.08 points in the week under review. This indicates a second
consecutive week of decline in the index for the month of August. The Index
dropped by 4.90% as a result of a negative market performance of maize and
soybean sub-indices as against previous week performance in the week under
review. Maize and soybean dropped by 7.59% and 1.67% to close the trading week
at N159,401/MT and N137,670/MT while paddy
rice had a positive performance, rising by 3.28% in the week under review,
closing at N199,121.
With warehouse clearing up storage space in anticipation of new harvest, and
farmers preparing for next harvest season, the volume of executed trade on the
Exchange decreased. Low trade volume is often as a result of waiting
periods between commodities cultivation and harvest.
On the Exchange, maize and soybean dropped by 7.59%
and 1.67% to close the trading week at &159,401/MT and 8137,670/MT. Paddy
rice had a positive performance rising by 3.28% in the week under review,
closing at N199,121.
Sorghum, soybean, ginger and cocoa remained unchanged
for the week under review.
In the Open Market, sorghum dropped slightly, while
cocoa and ginger maintained their prices while all other commodities
experienced an uptick.
The aggregate volume of trades executed on the
Exchange in the week under review totalled 88.44 MT with paddy rice and ginger
accounting for 82.4% and 13.6% of the traded volume respectively.
1. Gold Rebound
Shaky as Silver Continues to Outshine the Yellow Metal
Negative Performance - AFEX Commodities Weekly Report 130820
Nigeria and The
4. Islanders Likely
To Pay 20% More for Basket of Tomatoes than Mainlanders
Trade Precious Metals in Africa for Beginners
Price of Flour
(50kg) Went Up By 52.9% to N13,000
Season High - AFEX Commodities Weekly Report 060820
Food and Jobs; AFEX for Food Security
Gold Price Hits
New Record High: Investors New Safety Destination
Output To Be Tapered By The Spread Of The Fungal Black Pod Disease
Positive Performance - AFEX Commodities Weekly Report 300720
Agriculture Sector Stakeholders to Operationalize Government's AFJP Program
Commodity Prices In Lagos Up On Bridge Closure And Eid Kabir Festival
Positive Performance - AFEX Commodities Weekly Report 230720
The Big Rip-Off:
Sura Traders Take Customers To The Cleaners - FDC