On the Exchange last week, we observed mixed performances across prices of grain commodities. Soybean topped the laggard chart, plunging 3.39% while maize topped the gainers’ chart, gaining 2.31%. The ACI increased by 0.78% while the AEI remained unchanged w-o-w.
The kick-off in wheat harvest across the Northern Hemisphere has impacted downward pressure on the price of wheat. The decline in wheat price may offer some relief to global consumers who face rapidly increasing living costs and growing food insecurity. However, the decline is not sure to last due to unfavorable weather conditions across Europe and South America.
Market Price Performance
- The Exchange witnessed an increase in most commodities except for soybean and paddy rice which fell by 3.39% and 1.21% respectively week-on-week.
- In the open market w-o-w, we witnessed a dip across most commodities except for paddy rice, sesame, and sorghum which gained by 2.84%, 2.33% and 0.76% respectively.
- In the international market, all prices fell w-ow except cocoa which gained by 0.20%. Cocoa, ginger, and cashew fell by 8.03% , 4.91% , and 3.41% Y-T-D.
Check out other relevant details on market performance by accessing the report here.