AFEX commodities gains marginally by 1.33%

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By Kayode Tokede

The AFEX Commodities Index gained marginally by 1.33% for the week under review closing at 271.02 basis points for the week under review.

Maize and paddy rice remained the same while soybean picked up by 4.41per cent for the week under review, closing prices at N179.67/kg, N147.50/kg and N225.00/kg for maize, soybean and paddy rice, respectively.

Export Commodities remained constant for the week under review, closing prices at N957.27/kg and N752.67/kg for cocoa and ginger, respectively.

Sorghum and ginger maintained their price levels in the week under review, while cocoa increased by 1.78 per cent

Most commodities decreased in the Open Market for the week under review, these include maize by 9.42 per cent, soybean by 10.63% and paddy rice by 1.84 per cent. Sorghum and ginger increased in the Open Market for the week under review while cocoa retained its performance as that of the previous week.

The total trades on the Exchange totaled 798,429kg, with maize being the highest traded commodity accounting for 82.98 per cent and soybean being the least traded commodity for the week under review, accounting for 0.06% of the total volume traded.