Monday, September 27, 2021 / 01:19 PM / Kainosedge Consulting for AFEX Commodities Exchange
Last week, early harvest of grain commodities caused prices of Maize, Soybean, and Paddy Rice to decline in the Nigerian open market.
The downward trend in price is expected to continue amid low demand for grain commodities. AFEX Indexes remained flat, however, the ACI still outperforms the S&P GSCI Agriculture Index which measures the performance of agricultural commodities globally.
Generally, farmers show optimism on a better harvest this year which should support a further ease in prices of commodities upon full harvest and resumption of 2021/2022 trading season.