Grains Maintain Upward Price Movements in the Commodities Market

Sorghum and maize closed the trading week, gaining 25.27% and 0.08% w-o-w on the Exchange. A similar trend was witnessed in the open market for these commodities as prices rose marginally by 2.97% and 2.34% during the same period.

Globally, food shortage is expected to worsen amid high prices, trade restrictions, weather extremes, economic shocks, and the ripple effects of the war in Ukraine.

As a result, grain indices for the month of June are expected to rise, m-o-m, as grain prices maintain an upward trend.

Market Price Performance

• The Exchange witnessed a muted performance across most commodities except for sorghum and maize which topped the gainer’s chart week-on-week.
• However, in the open market, we witnessed a marginal dip across soybean, paddy rice, cocoa, and ginger, with the grain commodities reversing the prior week’s gain and export commodities plunging further.
• In the international market, similar trends were witnessed for soybean, paddy, and cocoa.

Check out other relevant details on market performance by accessing the report here.