Business and Economy

Prices of Grains at the AFEX Market Remain Unchanged Amid Early Harvest

It was a rather quiet on the Exchange last week. Prices of all commodities remained the same except Sorghum and cocoa.  As a result of the price movement in the open market, there was also a reflective decline in the price of Paddy Rice.

Also, the demand for Sesame pressured the price of Sesame in the open market. However, supply is limited amid inadequate production. Farmers are optimistic compared to last year and are positioned to take advantage of the market.

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

Market Price Performance

  • On the Exchange, paddy rice slumped, reflective of price movements of the same in the open market.
  • Strong demand pressured up sesame price in the open market. The supply is limited as less farmers cultivated sesame this wet planting season than last year.
  •  International price of Maize was up partly due to weaker crop prospects in Latin America, and in expectation of the start of harvest season in the US and Ukraine.

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

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