AFEX Indexes Performed Marginally Against the Previous Week as @ 260321


Tuesday, March 30, 2021 / 5:24PM / Kainosedge Consulting for AFEX Commodities Exchange / Header Image Credit: AFEX Commodities Exchange

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The AFEX Commodities Index {ACI} increased marginally by 0.77% (W-o-W) to close at 403.92 basis points. This is attributable to the increase of the prices of soybean. paddy rice and sorghum despite the decline in maize prices for the reporting week.

The AFEX Export Index (AEI) declined slightly by 0.38% (W-o-W) to close at 159.35 basis point for the reporting week. This is due to the decrease in ginger prices as cocoa remains unchanged during the reporting week.


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Total volume traded on the exchange for the reporting week surged compared to the previous week, increasing by 174% (W-o-W). being a total traded volume of 112.476 contracts. While export commodities volume last week decreased by 50% (W-o-W).

For the reporting week, grains trades on the exchange increased by 4times the previous week's trades. with maize accounting for about 95% of the total grains traded the reporting week.


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For the week. sorghum, cashew. paddy rice and soybean increased by 5.50%. 2.77%, 1.56% and 1.2% respective (W-o-W). on the other hand. ginger and maize declined by 0.79% and 0.28% (W-o-W) respectively. Export commodities like cocoa and sesame remained unchanged during the reporting week.

Local indicative open market survey prices for maize. soybean. paddy rice. sorghum and cashew was lower than exchange traded prices. However. players on the exchange priced ginger lower than the open market prices for the reporting week.


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Week-on-Week in the open market. ginger. cashew and sorghum increased by 4.37%. 1.30%. and 0.08% (W-oW) respectively. whereas soybean and maize decreased by 1.45% and 0.40% (W-o-W). respectively.


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For the reporting week, 118MT of fertilizer were disbursed to smallholder farmers across AFEX warehouses, as 765 farmers were recipients of the AFEX’s input financing program last week. Most farmers were from the northern part of the country, with 200 farmers being from the North West while 565 from North Central Nigeria.

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