ACI Experiences Negative Performance - AFEX Commodities Weekly Report 130820

Proshare

Monday, August 17, 2020 / 3:25 PMKainosedge Consulting for AFEX Commodities Exchange / Header Image Credit: AFEX Commodities Exchange

 

Proshare Nigeria Pvt. Ltd.


The AFEX Commodities Index Composite dropped slightly indicating the third week of marginal price movement. With anticipation of the new harvest season, the frequency of trade on the Exchange dropped, as farmers are out of stock and warehouses are clearing up storage space in preparation for the new harvest season. Low trade volume often signal the waiting period between commodity cultivation and harvest.

 

The AFEX Commodities Index composite experienced a rebound in market activity, averaging 262.97points in the week under review. The index performance fell by 0.41% W-on-W primarily due to the negative market performance in the maize and paddy sub-indices of the exchange against the previous week performance.

 

On the Exchange, maize and paddy rice dropped by 0.10% and 4.85% to close the trading week at &172,500/MT and $9192,795/MT.  Sorghum, Soybean and Ginger however maintained their price levels in the week under review, while Cocoa dropped by 0.73%

 

Proshare Nigeria Pvt. Ltd.

 

In the Open Market, Soybean dropped slightly, Cocoa maintained its price while all other commodities experienced an uptick.

 

The aggregate volume of trades executed on the Exchange in the week under review totaled 138.98MT with maize and paddy rice accounting for all the traded volume.

 

Proshare Nigeria Pvt. Ltd.


 Proshare Nigeria Pvt. Ltd. 


Related News

1.       Nigeria and The Cocoa Rally

2.      Islanders Likely To Pay 20% More for Basket of Tomatoes than Mainlanders

3.      Opportunities to Trade Precious Metals in Africa for Beginners

4.      Price of Flour (50kg) Went Up By 52.9% to N13,000

5.      ACI Reaches Season High - AFEX Commodities Weekly Report 060820

6.      Agriculture for Food and Jobs; AFEX for Food Security

7.      Gold Price Hits New Record High: Investors New Safety Destination

8.     Nigeria's Cocoa Output To Be Tapered By The Spread Of The Fungal Black Pod Disease

9.      ACI Experiences Positive Performance - AFEX Commodities Weekly Report 300720

10.  AFEX, Other Agriculture Sector Stakeholders to Operationalize Government's AFJP Program

11.   Domestic Commodity Prices In Lagos Up On Bridge Closure And Eid Kabir Festival

12.  ACI Experiences Positive Performance - AFEX Commodities Weekly Report 230720

13.  The Big Rip-Off: Sura Traders Take Customers To The Cleaners - FDC


Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP