AFEX Indexes Performed Marginally Against the Previous Week as @ 260321

Proshare

Tuesday, March 30, 2021 / 5:24PM / Kainosedge Consulting for AFEX Commodities Exchange / Header Image Credit: AFEX Commodities Exchange


Proshare Nigeria Pvt. Ltd.


The AFEX Commodities Index {ACI} increased marginally by 0.77% (W-o-W) to close at 403.92 basis points. This is attributable to the increase of the prices of soybean. paddy rice and sorghum despite the decline in maize prices for the reporting week.


The AFEX Export Index (AEI) declined slightly by 0.38% (W-o-W) to close at 159.35 basis point for the reporting week. This is due to the decrease in ginger prices as cocoa remains unchanged during the reporting week.

 

Proshare Nigeria Pvt. Ltd.


Total volume traded on the exchange for the reporting week surged compared to the previous week, increasing by 174% (W-o-W). being a total traded volume of 112.476 contracts. While export commodities volume last week decreased by 50% (W-o-W).


For the reporting week, grains trades on the exchange increased by 4times the previous week's trades. with maize accounting for about 95% of the total grains traded the reporting week.

 

Proshare Nigeria Pvt. Ltd.

 

For the week. sorghum, cashew. paddy rice and soybean increased by 5.50%. 2.77%, 1.56% and 1.2% respective (W-o-W). on the other hand. ginger and maize declined by 0.79% and 0.28% (W-o-W) respectively. Export commodities like cocoa and sesame remained unchanged during the reporting week.


Local indicative open market survey prices for maize. soybean. paddy rice. sorghum and cashew was lower than exchange traded prices. However. players on the exchange priced ginger lower than the open market prices for the reporting week.

 

Proshare Nigeria Pvt. Ltd.

 

Week-on-Week in the open market. ginger. cashew and sorghum increased by 4.37%. 1.30%. and 0.08% (W-oW) respectively. whereas soybean and maize decreased by 1.45% and 0.40% (W-o-W). respectively.

 

Market Talk

For the reporting week, 118MT of fertilizer were disbursed to smallholder farmers across AFEX warehouses, as 765 farmers were recipients of the AFEX’s input financing program last week. Most farmers were from the northern part of the country, with 200 farmers being from the North West while 565 from North Central Nigeria.


Proshare Nigeria Pvt. Ltd.

 

Related News

1.     AFEX Indexes Experienced a Positive Performance for the Week as @ 190321

2.     Q and A On Making Gains With Commodity Trade Using Cashew And Input Note By ComXbyAFEX

3.     High Cost of Farm Inputs to Push Wheat Prices Up

4.     AFEX Indexes Experienced Negative Performance for the Week Ended 120321

5.     ComX Partners Proshare for a Twitter Chat on Trading of New Products

6.     Price of Garri Jumps as Cassava Shortage Looms

7.     Prices of Pepper, Condiments and Spices Jump ahead of Easter

8.    AFEX Commodities Index Experience Positive Performance as @ 050321

9.    CBN Facilitates Release of 50,000 MT of Maize

10. Xplore February 2021: Financing the Demand Side

 

 Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP