Tuesday, July 28, 2020 / 10:27 AM
/ Kainosedge Consulting for AFEX Commodities Exchange / Header Image Credit: AFEX Commodities Exchange
The AFEX Commodities Index composite experienced a marginal uptick in market activity, averaging 249.40 points in the week under review. The index performance appreciated by 2.19% W-on-W primarily due to the positive market performance in the soybean and paddy rice sub-index of the Exchange against previous weeks' performance.
On the Exchange, soybean and paddy rice appreciated by 7.71% and 5.87% to close the trading week at N150,000/MT and N189,908/MT.
On the other hand, maize fell by 1.22% to close the trading week at N158,056/MT.
In the open market, maize, paddy rice and ginger ticked up slightly while soybean depreciated in price. Other commodities, sorghum and cocoa, maintained their price level.
The aggregate volume of trades executed on the Exchange in the week under review totaled 649.38MT with maize(156.42MT) and soybean(422.79MT) accounting for more than 89% of the total traded volume.