Increase of Market Activities Anticipated in the Coming Week - AFEX Commodities Weekly Report 300420


Monday, May 04, 2020 / 1:48 PM  /  Kainosedge Consulting for AFEX Commodities Exchange


The AFEX Commodities Index composite closed 162.2 points with a 0.00% change from the previous week. The index performance remained stable across all commodities covered by the index in the week under review.

On the exchange, the lull experienced is a result of supplier prices being higher than buyer quotes. We anticipate that trades will pick up by the coming week.

As a result of the call by the Federal Government to open grain reserves to feed the country's poor due to hunger effects caused by the pandemic, states will begin to buy aggressively to supplement their stock level, and hence, we anticipate an increase in market activities.

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The rainy season is in view and as a result farmer are beginning to sell their stock in preparation for the planting season. They are selling off stock to purchase fertilizer and other inputs, hence there is an increasing availability of commodities in the market.


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