Commodities Performance on the Exchange Amid Harvest Season
There was a noticeable movement in the price of commodities on the Exchange last week. Paddy rice was down week on week and this is a reflective movement in the open market prices.
Also, the price of sorghum was lower last week as demand pressure was low amid harvest. However, there was an increase in the international prices of maize, soybean, and paddy rice due to farmers hoarding activities.
Nonetheless, the ACI maintained its index point of 430.36 while AEI grew by 0.40%.
Market Price Performance
- The ongoing harvest of sorghum in some parts of the country coupled with a decline in its demand caused a plunge in its price in the open market.
- The price of paddy rice declined W-o-W on the Exchange reflective of its open market price movement.
- Maize, soybean and paddy rice international prices was up because farmers are hoarding the grains and expecting prices to go up through harvest and into the spring.
Check out other relevant details on market performance by accessing the report here.