Monday, October 26, 2020 / 4:55 PM
/ Kainosedge Consulting for AFEX Commodities Exchange / Header Image Credit: AFEX Commodities Exchange
The AFEX Commodities Index gained marginally by 1.33% for the week under review closing at 271.02 basis points for the week under review. Maize and paddy rice remained the same while soybean picked up by 4.41% for the week under review, closing prices at N179.67/kg, N147.50/kg and N225.00/kg for maize, soybean and paddy rice, respectively.
Export Commodities remained constant for the week under review, closing prices at N957.27/kg and N752.67/kg for cocoa and ginger, respectively.
Sorghum and ginger maintained their price levels in the week under review, while cocoa increased by 1.78%.
Most commodities decreased in the Open Market for the week under review, these include maize by 9.42%, soybean by 10.63% and paddy rice by 1.84%. Sorghum and ginger increased in the Open Market for the week under review while cocoa retained its performance as that of the previous week.
The total trades on the Exchange totaled 798,429kg, with maize being the highest traded commodity accounting for 82.98% and soybean being the least traded commodity for the week under review, accounting for 0.06% of the total volume traded.