COMMODITY MARKET REPORT with Quarterly review (May 2019)

The above result speaks to changes in the price of Beans in the last one week in major markets in Nigeria. Result indicates a relatively constant price in wholesale and retail price for the past one week with variances in Gombe main market Gombe state. For better pricing of beans, minimum price can be obtained in Gombe main market, Gombe state.

Summary of Beans prices in Q1/Q2

Average price for Beans earlier in Q1 in 2019 was at ₦239.2/Kg, closing at ₦210.5/kg on the last week of the Quarter. The present average weekly price in Q2 is at ₦227.7/kg. Based on Quarter by Quarter prices, there has been a shortfall in the price of Beans.

Results show variance in the price of maize in key markets in Nigeria. Result indicates a relatively constant price (wholesale and retail) of Maize in the major market with higher price variance occurring in Gombe main market, Gombe State. It moreover indicates higher prices in Anambra state which reflects prices in the South-Eastern State of the country. Minimum price of maize can be obtained in Gombe main market, Gombe State.

Summary of Maize prices in Q1/Q2

Average price for Maize earlier in Q1 in 2019 was at ₦116.2/Kg, closing at ₦ 135.8/kg on the last week of the Quarter. Present average weekly price in Q2 is at ₦119.7/kg. Based on Quarter by Quarter prices, there has been a shortfall in the price of Maize.

The result shows variance in the price of Sorghum in key markets in Nigeria. It indicates a relatively consistent price in the major markets except in Bodija Market in Oyo State where there is a higher variance in retail price as compared to last week’s price. Highest pricing occurred in Bodija market in Oyo state. For better pricing of commodities, minimum Sorghum price can be obtained in Gombe Main market, Gombe State followed closely by Dawanau Market, Kano State.

 Summary of Sorghum prices in Q1/Q2

Average price for Sorghum earlier in Q1 in 2019 was at ₦136.1/Kg, closing at ₦ 148.1/kg on the last week of the Quarter. Present average weekly price in Q2 is at ₦138.6/kg. Based on Quarter by Quarter prices, there has been a rise in the price of Sorghum.

 

The above result indicates the average price of Paddy Rice in Nigeria. This week, result shows a decrease in the average wholesale price of Paddy Rice but an increase in its retail price. For better pricing, lowest price of Paddy Rice can be gotten from Kwaya Kusar in Borno State.

Paddy rice Sub-Index

The Paddy Rice Sub-Index opened at N125.0/Kg in 2019 and averaged as N126.6/Kg (QI  2019) points and closing at N133.0/kg on the last trading day of the quarter. The season-to-date performance on the last trading day of the quarter was positive.

The above result indicates the average prices of Soybean in Nigeria. This week, there was a decrease in the wholesale price of Soybean as a result of the increase in its availability and by the law of demand and supply. Lowest price of Soybean can be gotten from Minna Modern Market, Niger State.

Summary of Soybean prices in Q1/Q2

Average price for Soybean earlier in Q1 in 2019 was at ₦168.9/Kg, closing at ₦ 201.6/kg on the last week of the Quarter. Present average weekly price in Q2 is at ₦151.2/kg. Based on Quarter by Quarter prices, there has been a shortfall in the price of Soybean.

WEEKLY INTERNATIONAL COMMODITY PRICE REPORT AS AT 30TH MAY 2019

 

Source: http://afexnigeria.com

NovusAgro

 

Please follow and like us: