Tuesday, April 14, 2020 / 2:50 PM / Kainosedge Consulting
for AFEX Commodities Exchange
The AFEX Commodities Index closed flat at the end of trading, settling at 161.67 points. This represents an extension in the lull induced by the outbreak of COVID-19 in the country which had an effect across all commodities traded on the Exchange.
Taking a look at the commodities traded on the exchange, export crops; Cocoa and Ginger remain the best-performing commodities on the exchange with Season Till Date (StD) performance of 11.21% and 16.18% respectively.
The lull witnessed in the activities on the exchange remains as companies; FMCG, continue to evaluate the fluid nature of the current market and We expect that the paddy rice harvests slated for Late April - May will trigger a resumption in trading activities.
Maximum and Minimum price for Paddy rice was recorded in Talata Market; Zamfara State and Wannune Market, Benue State
Maximum price for Cocoa was recorded in Ondo State while minimum price was recorded in Edo State.
The open market prices also reflect a pull back from the price rally witnessed last week as household abides with the lockdown directives of the governments across the country.