High demand drives grain prices upwards at the commodities exchange

In a review of last week’s performance, Maize and Paddy rice appreciated marginally by 0.06% and 0.32% respectively on the Exchange.

Maize and Soybean maintained a 4-week bullish trend in the open market as buy pressure weighed on supply.

 Soybean led the performer chart, appreciating 14.6% on a week-on-week basis. The surge in price was attributed to the increased demand for the commodity both domestically and internationally.

Maize and Paddy rice were the top traded commodities, accounting for almost 70% of contracts traded on the exchange.

At the local market, demands for Paddy rice, Maize, and Soybean continue to increase, keeping prices bullish which is likely to last the harvest season.

Market Price Performance

• Price activities on the Exchange was mostly muted across
  commodities. Maize and Paddy rice however
  appreciated marginally by 0.06% and 0.32% respectively.
• Open market prices showed that most commodities price
  experienced upward pressure. This was on the back of
  increased demand for these commodities in the open
  market.
  
• Cocoa topped the gainers chart in the international
  market, gaining 8.62% W-o-W. The key driver of the
  upward trend that has been observed in the past weeks is
  the increased demand for the commodity.

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