The last trading week saw an increase in the open market price of most grains. Sorghum, Maize, Wheat, and Paddy rice gained 3.24%, 3.03%, 0.81% , and 0.50% respectively. Market participants attribute this to the impact of flooding and increasing demand from the domestic market and neighboring countries. Soybean stood as the only laggard, declining marginally by 2.47%.
Sorghum recorded the highest volume settled on the Exchange, representing 71.88% of total contracts traded on the Exchange.
Key producing states of grains production are seriously affected by the current flood incidence which could have a significant negative effect on general food supply.
Market Price Performance
- In the trading week, Cocoa gained on the Exchange by 14.34% while Soybean and Sorghum lost 1.04% and 3.15% respectively w-o-w.
- In the open market, the price of Soybean and Paddy Rice fell W-o-W by 2.47% and 2.94% respectively while other commodities gained. However, Ginger and Cashew closed flat.
- In the international market, Paddy rice lost by 0.44% while others gained W-o-W. Maize topped the gainers chart, gaining 3.22%.
Check out other relevant details on market performance by accessing the report here.