AFEX Commodities Index Experience Positive Performance

For the reporting week the AFEX Commodities Index (ACI) increased by 1.07% (W-o-W), this is attributable to the surge in the price of soybean and sorghum on the exchange as they closed the reporting week with a 11.85% and 3.84% increase (W-o-w) respectively.

On the other hand, the AFEX Export Index (AEI) for the reporting week declined by 1.17% compared to the previous week, as the prices of commodities covered by the index, particularly ginger declined by 2.50% for the week.

Market Players are pessimistic about maize prices as the CBN releases about 50,000MT to the market.