Pressure begins to build on domestic grain prices

Across all commodities captured in the open market, we saw marginal increases in price. Although a mixed performance on the Exchange, Maize, Paddy Rice, Cocoa, and Cashew mirrored performances in the open market, increasing 2.64%, 2.83%, 6.81%, and 0.94% w-o-w respectively. 

In the international market, developments in Ukraine remain the overarching driver of commodity prices in addition to the mandated lockdowns in China because of rising COVID-19 cases. This has increased the price volatility of commodities making traders cautious and drawback from executing trades with an effect on market liquidity.

Market Price Performance

• Exchange prices of Paddy Rice, Cashew and Cocoa gained 30.31%, 26.18% and 11.64% respectively relative to year opening price.
• The open market price of cashew dropped by 2.32% W-o-W while cocoa gained 12.30% on Y-t-D basis. The international price of Sesame continued to rise.
• International prices of grains gained relative to their year opening price. However, their prices dropped on a W-o-W basis.

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