Wednesday, August 18, 2021 / 12:40 PM / Kainosedge
Consulting for AFEX Commodities Exchange
This Week in The Markets
partial closure of China's (the largest exporter of ginger and wheat)
container port influenced by the rapid spread of the COVID delta variant
is expected to reduce supply of the commodities in the international
market which can result in a future temporal price increase.
the favorable weather experienced in some parts of Vietnam (one of the
major exporters of rice), farmers are optimistic on quality harvest of the
entrance of new maize into the Nigerian domestic market drove the significant
price decline of maize and sorghum.
Market Price Performance
accounted for 83% of the total contracts closed on the Exchange while it
maintained its price from the previous week.
price of cocoa among other commodities tracked in the domestic open market
increased in anticipation of the main crop harvest.
price also increased in the international market as weather conditions in
Ivory Coast's cocoa-growing regions has tempered hopes for a strong start
to the upcoming main crop
Commodities and Other Assets
- The ACI significantly appreciated by 10.24% after a
three-week bearish performance.
- It was a muted performance on the AEI the week
closed at 177.69 index points, same as from the previous week
- The S and P GSCI Agriculture Index appreciated by
4.59%(W-o-W) to close at 433.59 index points.
- S-t-D, the ACI outperformed the S and P GSCI
Agriculture Index. However, the AEI underperformed when compared to both
- Total contracts closed spiked 95.2% (W-o-W) with
6,395 executed trades in the review period
U.S. government slashed its outlook for domestic corn production by 2.7%
and its soybean harvest view by 1.5% during the week as dry soils in key
western growing areas reduce the potential for an abundant harvest.
availability of sesame in the open market is expected to increase as its
harvest season is currently ongoing in Taraba and Benue State.
1. Ghana Panics after China Begins Exporting Cocoa
China's Cocoa Export - Paltry Yet Symbolic
Commodity Trading in Nigeria - Beginner's Guide
to Commodities Market Investing
Onion Sellers Strike: Another Layer of Concern
Insecurity in Nigeria to Cut Down Food Reserves
AFEX Commodities Index Remained Flat for the
Week as @140521
AFEX Commodities Increased Slightly for the
Reporting Week as @ 070521
AFEX Restates Commitment To Food Security in
AFEX Launches 5 Year Impact Report
Corn Prices to Remain
Elevated on Strong Global Demand