Commodities | |
Commodities | |
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Wednesday, February 20
2019 12:10 PM / by
FDC
Nigeria is the second largest producer of Sorghum in the world (12% of
global output) with a value of $1.12 billion. It is the largest producer in the
African continent. The country has the potential of doubling its output to 12
million tonnes on better mechanization and higher yield seedlings.
The current price of N140,000 per tonne is 100% higher than the 2015
price. This is mainly due to the patronage of the brewing industry (beer, malt
and stout). The dominant players in the industry have achieved raw material
local content of over 65%. This continues to stimulate domestic supply with an
attendant impact on job creation.
The slides below are a synopsis of these and developments in the
domestic and global commodities market.
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