Weak Supply of Wheat and Corn Would Lead to an Uptick in Global Prices

Tuesday, October 09, 2018 / 06:50 PM / FDC

Coconut is a commodity with multi-functionality and use. Given the extended Nigerian coastal front from Lagos to Calabar, coconut production should be much higher than the current 284,000 tonnes.

With earnings from the commodity now in aggregate of $426mn, this could be a major revenue earner.

In spite of evidence of activity diversification, policymakers and investors continue to be obsessed with the price of oil. If the price of oil falls below $80pb, it could pose some problems for external economic equilibrium. Luckily Brent is trading at $84pb which is comforting at least for the moment.

This is a snapshot of the global and domestic developments in the commodities market this week.   

Related News

1.       Ivory Coast Raised Its Farmgate Price of Cocoa to $1,340 per tonne for The 2018-19 Season

2.      Nigeria is The World Second Largest Producer of Sweet Potatoes

3.      Incessant Flooding Disrupted Distribution and Logistics of Farm Products in Middle Belt of Nigeria

4.      Global Price of Palm Oil Crashed by 12.9% to$623 per tonne in 2018

5.      Corn Prices Rose by 0.29% to $3.44 per Bushel; Driven by Weak US Corn Yields

6.      Flood and Disease Outbreak Would Affect Nigeria’s Cocoa Output and Push Prices Up

7.      Robust US Harvest to Fuel Concerns of Grains Oversupply

8.     Master Bakers Association Threatens to Increase The Price of Bread Due to Rising Costs of Inputs

9.      Weather Conditions in Top Producers Continue to Influence Grain Prices

10.  Restrictions on Russian Wheat Exports to Push Prices Up

11.   Higher Cocoa Production From Ivory Coast and Ghana Likely To Weigh On The Market