Sugar Prices to Rise in the Coming Weeks as Ethanol Refiners Switch to Sanitizers

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Thursday, March 26, 2020 / 06.32 PM / FDC Ltd / Header Image Credit: FDC

 

The exponential jump in jobless claims in the US, from 282,000 to 3.28 million last week - the highest level in 53 years, shows that COVID-19 and the lockdown are having more than a proportionate impact on the economy and people.

 

The price of oil fell as result of the lull in economic activity globally. Brent fell 0.58% to $27.23pb - down 46% in March. Rapidly dwindling oil demand amid rising output is expected to depress prices further.

 

Nigeria's monthly FAAC disbursement plunged 10.15% to N581.6bn in March - the lowest amount shared since November 2017. This is in spite of the hike in Value Added Tax (VAT) from 5% to 7.5% from February 1 st and the change in the intergovernmental exchange rate from $320/$ to $360/$.

 

Revenues are projected to fall even further as brent has averaged $36pb in March - down from $55pb in February.

 

In the slides below, these issues were broken down by analysts at the FDC Think Tank on Channels TV Business Morning programme. 


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

 

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