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Market | Commodities

Hoarding activities of farmers increase commodities prices – AFEX Commodities Weekly Report 030622

Jun 06, 2022   •   by Others   •   Source: AFEX   •   eye-icon 226 views

Domestic prices of soybean, paddy rice, and sorghum have been rising due to the hoarding activities of the farmers in anticipation of the return of major market off-takers. 

Prices of commodities on the Exchange remained stable W-O-W except for maize which gained by 1.87% while in the open market W-o-W, cashew, cocoa, and maize fell by 2.73%, 2.35%, and 0.95% respectively. However, the international prices of most commodities gained W-o-W.

Analysts are forecasting that prices of commodities will continue to increase due to the war in the black sea region which has lasted over 100 days.

 



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