AFEX Commodities Weekly Report: Increase of Market Activities Anticipated in the Coming Week
The AFEX Commodities Index composite closed 162.2 points with a 0.00% change from the previous week. The index performance remained stable across all commodities covered by the index in the week under review.
On the exchange, the lull experienced is a result of supplier prices being higher than buyer quotes. We anticipate that trades will pick up by the coming week.
As a result of the call by the Federal Government to open grain reserves to feed the country’s poor due to hunger effects caused by the pandemic, states will begin to buy aggressively to supplement their stock level, and hence, we anticipate an increase in market activities.
Merchant’s Sentiments from Maraba Market, Kaduna State:“Ginger price in the market depends on the quality and weight per bag. There is a total lockdown in Border and Kachia market with Maraba market allowed to operate only on Wednesdays. Due to this lockdown, we have no choice but to follow farmers to their houses to buy from them”.
