Unfavourable Weather Conditions In Brazil Expected To Drive Sugar Prices Up In The Near Term

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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