Commodities | |
Commodities | |
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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