ACI Experiences a Slight Drop in Performance - AFEX Commodities Weekly Report 160720

Tuesday, July 21, 2020 / 11:45 AM /  Kainosedge Consulting for AFEX Commodities Exchange / Header Image Credit: AFEX Commodities Exchange

The AFEX Commodities Index composite experienced a marginal decline in market activity, averaging 244.05 points in the week under review. The index performance declined by 3.24% w-on-w primarily due to the negative market performance of the Soybean sub-index of the exchange against previous weeks performance.

On the Exchange, soybean fell by 10.11% to close the trading week at N139,267/MT.

Maize and paddy rice appreciated slightly by 0.26% and 2.50% to close the trading week at N160,000/MT and N179,370/MT.

In the open market, maize, soybean and paddy rice ticked up slightly while the other commodities remained unchanged in the week under review.

The aggregate volume of trades executed on the Exchange in the week under review totaled 950.71MT with maize(605.2MT), soybean(272. 10MT) accounting for more than 92% of the total traded volume.

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