COMMODITY MARKET REPORT(March 28-April 4, 2019)

BEANS

The above result describes changes in the price of beans, a staple food in Nigeria; Drum Beans in Kano and Benue state while white beans in Delta state. Result indicates a variance in the price of Drum Beans to white beans which might be due to better taste and nutrient level of Drum Beans to White Beans

For better wholesale and retail pricing, minimum price for Drum Beans can be gotten in Dawanau market Kano while for White Beans at Anchau market in Kaduna State.

GARRI

Above result indicates better Garri wholesale and retail pricing per kilogram in Kano state as compared to the Middle belt and South-East State where such crops are majorly grown. This however might be as a result of other intrinsic factors affecting high production not to translate to lower pricing. However, results suggest that though wholesale price is low in Gombe State, retail price is quite high and a prospect market for sales.

MAIZE

On comparative advantage basis, Grains such as Maize, Sorghum, Wheat are cheaper to buy in the Northern states as compared to the Southern parts. This is rightly observed in the above result. However, with lower wholesale price in Benue State, results indicate a higher retail price of commodity which is a potential market of focus.

PADDY RICE

Above result indicates the average price of paddy Rice in Nigeria. Domestic Paddy Rice production has been on an increase by 3.39% bringing about lower importation of commodity. Just like most other cereal commodity, results show that lower prices of Paddy Rice are gotten from Achida, Sokoto State.

WEEKLY INTERNATIONAL COMMODITY PRICE REPORT AS AT 9TH APRIL 2019

Sources:

https://tradingeconomics.com/

Novus Agro Nigeria Commodity Index

AFEX commodities exchange limited

 

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