Monday, November 29, 2021 / 5:10 PM / Kainosedge Consulting for AFEX Commodities Exchange
The price of Maize on the Exchange last week took an upturn as it grew, closing at 4.83% high thereby overperforming against other commodities.
Maize, Soybean, Paddy rice and Cocoa international prices were up because of regular heavy rains which worsened the condition of roads leading to the farms. This would also affect the export as there would be excess stock.
Maize continued to maintain the lead in the international market, with its price exceeded other commodities on a year-to-date basis with Sorghum taking a dip to its price on a year-to-date basis. However, in the open market, soybean maintained an upward trend following the price hike last week.
The ACI remained flat while the AEI declined slightly at 0.12% until the 2021/2022 trading season.