Weekly Commodities Market Update: Grain Prices Dip Week-on-Week

It was a buyer’s market in the open market last week. Prices plunged across grains commodities with Soybean topping the laggard chart, declining c.7% week-on-week. On the Exchange, Sorghum and Soybean declined 3% and 0.09% respectively in the last trading week.

Total volume traded stood at 6 million contracts, declining by 38% w-o-w. The AFEX Export Index gained 3.97%, outperforming other indexes w-o-w.

Market Price Performance

• The Exchange prices of Paddy rice closed higher while Soybean and Sorghum closed lower as against the previous trading previous week.
• The domestic prices of most commodities closed lower in the open market compared to the previous week except for Wheat and Cocoa.
• The international price of Soybean and Cocoa lost 0.48% and 4.07% respectively, W-o-W while others gained.

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