Price of Grains on the Rise on the Exchange as Demand Soar in the Open Market

On the Exchange this week, the price of maize and sorghum were both up by 4.83%, 0.81% respectively. However, soybean and cocoa were down by 0.2%, 1.30%.

As the harvest season of paddy rice comes to an end, there was a noticeable price increase for paddy rice in the open market. Although, there has been a general hike in the prices of commodities in the open market as a result of low supply to meet the demand of these commodities.

However, Sorghum experienced a decline as a result of the new barley, although breweries are very optimistic about its ability to resist drought.

Nonetheless, the ACI maintained its index point of 430.37 while AEI declined by 0.12.

Market Price Performance

• The general increase of grain prices in the open market except sorghum was low due to the strong demand available for the low volume of harvest.
• As harvest of paddy rice is being concluded in some states like plateau, we witnessed a hike in its open market price.
• The new barley led to the slight decline in the price of sorghum as breweries remain optimistic on its drought resistant.

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