Monday, May 11, 2020 / 2:38 PM / Kainosedge Consulting for
AFEX Commodities Exchange
The AFEX Commodities Index (ACI) rallied
by 10.21% in the week under review to close at 170.88 points due to gains of
2.82% and 9.62% in the Maize and Soybeans sub-indices Respectively.
The week witnessed an increase in traded volumes on the exchange as processors
replenish the depleted stock of raw materials and investors on the ComX
platform trade spot contracts.
Transactions in the open markets have also gained some pace as processing
companies resume activities following the lockdown, hence, increasing demand in
the open market.
Disaggregating the traders leverage reveal that traders dominate
trading, leveraging on commodities stocked up around harvest. The farmers are
also not left out as they trade stored commodities in order to procure
fertilisers needed for production in the 2020 wet season.
Agriculture Transporter's Sentiments: "We are exempted from the ban placed by the
Government on Interstate travel. The ministry of Industry Approved that trucks
transporting essentials should be given access to travel to any state in
Nigeria. However, transportation costs and taxes are getting high".
Global Demand Is Expected To Taper Grain Prices
Induced Lockdown Triggers Sustained Decline in Commodities Market Activities
Supply Cut From
Australia To Keep Wheat Prices Up
Lower Demand For
Corn-Based Ethanol To Keep Corn Prices Depressed
Induces Slowdown in Commodities Market - AFEX Commodities Weekly Report 160420
Experiences Increased Volatility and Decline in Prices - AFEX Monthly Report,
Staples to Keep Domestic Commodities Prices High
Lull Continues - AFEX Commodities Weekly Report 090420
Proshare on a Webinar on the Impact of COVID-19 on Nigeria's Food Systems
Witness COVID-19 Induced Lull - AFEX Commodities Weekly Report 020420
11. ACI Experiences
An Uptick - AFEX Commodities Weekly Report 260320
12. ACI Surges By
5.06% - AFEX Commodities Weekly Report 060320