The AFEX Commodities Index increased marginally by 0.77% closing the week at 271.02 basis points. This increase was because of the increase in the Soybean sub-index outweighing the decrease in the Maize and Paddy Rice sub-index. According to the Consumer Confidence Index report by CBN, most Household expect prices of goods and services to rise in the next 12 months with an index of 36.2 points, hence, farmers will be looking to increase the price of their commodities in order to adjust their purchasing power to cover up the expected increase in prices of goods and services.
- How Communication Service Providers are bringing inclusion and growth to Africa’s financial landscape
- Kenyan Based impact investor Villgro Africa scales operations across Africa