Friday, October 6,
2017 9:55AM/ FDC
The Federal Government is promising to bring down the price of a 50kg bag of rice to N9,000 within a month. This is highly doubtful as governments have little or no control over market prices.
Brent oil slipped on concerns of higher shale output but recovered to $57.09pb following news of a drawdown in U.S crude inventories. Meanwhile, domestic commodity prices remain relatively static.
The attached slides summarize developments that took place in the domestic and global commodity markets this week.
2. Oil Prices Climbed Sharply to a 2-year High of $59pb
3. Cashew Nut Exports Increased Significantly by 463% to $37m in Q2’17
4. Volatile Oil Prices in August
5. Oil Prices Hovered Around $55pb Ahead of OPEC Meeting
6. Higher Price of Oil Has More Than Compensated for Any Cocoa Shortfalls