Insecurity in Nigeria to Cut Down Food Reserves


Wednesday, May 19, 2021 / 12:36 PM / FDC / Header Image Credit: FDC 

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Oil prices touched $70pb for the first time since mid-March on improved oil demand amid the ease of restrictions in the U.S, UK and some European countries. The bullish outlook for oil is further bolstered by the pent-up travel demand that is set to be let loose in the summer with the resumption of international flights. This could push Brent further up to $75pb by June. While this is positive for fiscal and external accretion, the fuel subsidy debacle will present itself again, this time more ferociously.

Domestic commodity prices are still rising in spite of conflicting data from the NBS. Has inflation peaked? Or what could possibly be moderating the impact of insecurity and supply chain disruptions on food prices? These are just a few of the questions that the MPC will ponder at their meeting next week (May 24/25).

The slides below give a snapshot of the discussion in the commodities segment of the Business Morning programme on Channels TV by the FDC Think Tank.

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1.       AFEX Commodities Index Remained Flat for the Week as @140521

2.      AFEX Commodities Increased Slightly for the Reporting Week as @ 070521

3.      AFEX Restates Commitment To Food Security in Nigeria

4.      AFEX Launches 5 Year Impact Report

5.      Corn Prices to Remain Elevated on Strong Global Demand

6.      Commodity Prices to Stabilize after Early 2021 Gains, Supported by Global Economic Recovery

7.      Can Nigeria Achieve Sugar Self-sufficiency?

8.     AFEX Commodities Index Closed Positive for the Reporting Week as @160421

9.      AFEX Commodities Index Continued Its Negative 2-week Experience as @ 090421

10.  AFEX Commodities Index Experienced a Negative Experience @ 020421


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