Robust Main Crop Harvest From West Africa Should Keep Cocoa Prices Down


Friday, January 04 2019 02:57 PM / FDC

Nigeria’s Purchasing Managers Index spiked to 60.2 in December. The only component of the five variables that declined was delivery times. Seasonality of demand played a major role in the surge.

Nigeria’s oil production will jump by 200,000bpd as the Egina field production commences this week. However, as a deep offshore asset, its revenue impact on Nigeria will be very limited because of the structure of the production sharing agreement under the PSCs. These contracts are skewed in favor of the producing company.

The slides below summarize the events that took place in the domestic and global commodity markets this week.

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1.       Wheat Prices Down By 0.12% To $5.24 Per Bushel

2.      Increased Global Wheat Supply in 2018-2019 Season Would Push Prices Down

3.      Nigeria’s Water Melon Output Is Only 0.09% of Global Production

4.      Is Nigeria Better Off Selling Palm Oil Than Crude Oil In The Long Run? – Making The Case

5.      Nigeria Accounts For A Meagre 0.01% of Global Salt Production

6.      Okro Output in Nigeria Estimated At 1.98mn Tonnes

7.      Nigeria’s Melon Seed Output Remains Suboptimal In Spite of Its Market Dominance

8.     Increased Global Cocoa Demand Would Push Prices Up And Boost Nigeria’s Export Earnings

9 . How Blockchain Will Transform Agric in Nigeria-Quan Le, CEO Binkabi

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.
Related News