COMMODITY MARKET REPORT(18th April-25th April, 2019)

BEANS

The above result describes changes in the price of white Beans in the last one week. Result indicates higher variance in the wholesale and retail prices in Gboko main market, Benue state and Abia state than other states in consideration. Generally, the price of beans seems to have fallen as compared to last week price.  Best wholesale prices for White Beans is obtainable in Garuba Shade Market, Taraba State.

SORGHUM

Above result indicates the average price of Sorghum in Nigeria. Production has been on the increase by 7.79% on a week on week basis bringing about lower importation of the commodity. Moreso, there has been 1.98% increase in price on a week on week basis. Just like most other cereal commodities, results show that lower prices of Sorghum are gotten from Leggal and Kumo market, Gombe State.

MAIZE

Result shows variance in price of maize in key places in Nigeria. However, there aren’t much changes especially in the Southern States as compared to last week’s prices. Results indicate low wholesale and retail price in Kano State due to comparative advantage enjoyed such as cheap labour, conducive weather condition, suitable soil type etc. For better retail pricing, minimum price can be gotten in Dawanau Market, Kano State.

PADDY RICE

Above result indicates the average price of paddy Rice in Nigeria. Domestic Paddy Rice production has been on the increase by 3.2% bringing about lower importation of the commodity. Just like most other cereal commodities, results show that lowest prices of Paddy Rice can be gotten from Talata, Kaduna State.

SOYBEAN

Result shows higher price margin; Wholesale and Retail price in Mile 12 Market, Lagos State as a result of least comparative advantage in Soybean production while Dawanau Market, Kano State recorded the lowest Soybean price per kg. However, for better retail pricing, minimum price can be gotten in Minna Ultra-Modern Market, Niger State.

GINGER

The above result indicates the average price of Ginger in Nigeria. Local production increased by 11.47% on a week-on-week basis. Results show that lowest prices of Ginger can be gotten from Maraba, Kaduna State.

WEEKLY INTERNATIONAL COMMODITY PRICE REPORT AS AT 29TH APRIL 2019

Sources:

https://tradingeconomics.com/

Novus Agro Nigeria Commodity Index

AFEX commodities exchange limited

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