Price of Grains Dip Further on the AFEX Market Amid Increased Supply As Harvest Draws Near

Last week, an increased supply of grains in the open market caused prices to decline across most grains, maintaining a 3-week bearish trend.

Farmers remain optimistic of a better harvest this year against last year and are positioned to take advantage of higher prices of commodities.

The AEI and ACI remain flat to reset upon the 2021/2022 trading season.

Market Price Performance
• Maize recorded a third-week decline on the exchange along with a W-o-W drop in its total contracts consummated by 59%.
• Scarcity of sesame drove its open market price. Its planting is ongoing, and harvest is expected to begin between late October and November.

• In the international market, maize outperformed other commodities tracked on a year-to-date-basis.
Check out other relevant details on market performance by accessing the report here