AFEX Commodities Index closed Positive for the Reporting Week

The AFEX Commodities Index (ACI) upturned by 2.05% (W-o-W) closing the reporting week at 399.39 points. On the other hand, it was another quiet week for the AFEX Export Index (AEI) as it  has remained flat for three consecutive weeks now at 159.35 points.

Based on the survey recently carried out by AFEX, farmers in key producing regions are currently not in the market to sell their stock, postponing entry into the market to early May in order to get income to purchase input ahead of the Wet-season cultivation. Hence, there is an expected increase in prices of grains this week due to the current selling strategy of farmers.