Ramadan effect on commodities: AFEX Weekly Commodities Market Update

Market activities in the domestic market was slow due to low patronage from aggregators which can be attributed to the month of Ramadan. The ACI increased marginally by 1.99% while the ACI was down by 1.09%.

In the open market, the price of commodities except for paddy rice and sesame fell while on the Y-t-D, prices of sorghum, soybean, and maize dipped with the price of other commodities gaining. Cashew and Cocoa gained the most.

Maize, sorghum, and soybean remained the top commodities traded on the Exchange.

Market Price Performance
Exchange prices of soybean and sorghum gained for the second consecutive week while paddy rice and cocoa gained 7.09% and 3.21 respectively.

The open market price of commodities fell except for paddy rice, sesame and cashew which gained 0.59%, 3.46% and 4.93% respectively. On a Y-t-D basis, cocoa and paddy rice gained 11.59% and 9.41% respectively.

W-o-W, the international prices of all commodities gained except for cocoa which fell by 0.07% relative to the previous’ close. Price of grains continues to soar in the global market as their Y-t-D change has remains positive.

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