A peep into commodity prices at NCX

By Grace Adetutu   Prices of grains at the Nigerian Commodity Exchange (NCX) have continued to increase in the last one week. The NCX market, which is an organised market for buyers and sellers of agricultural commodities and solid minerals, provides information of the current market prices of grains and food commodities sold in different […]

By Grace Adetutu

 

Prices of grains at the Nigerian Commodity Exchange (NCX) have continued to increase in the last one week.

The NCX market, which is an organised market for buyers and sellers of agricultural commodities and solid minerals, provides information of the current market prices of grains and food commodities sold in different areas.

Data on NCX as of January 8, 2022, show the price of maize (yellow) at Dawanau Market in Kano State at N230,000 with exchange at +0.00 per cent; maize (white) at N225,500 with exchange at -2.17 per cent, millet at N230,000 with exchange at -4.17, soyabean at N370,000 and exchange at -5.13 per cent, and sorghum (white) at N220,000 with exchange at +15.79 per cent.

In Doma area of Nasarawa State, data as of January 5, 2022, show price of melon (unshelled) per ton at N498,412 and  exchange at 1.21 per cent, groundnut (unshelled) at N226,820 with exchange at +0.49 per cent,  white maize at N162,719 with exchange at +5.05 per cent, rice paddy at N188,926 with exchange at +1.50 per cent.

In Illela, Sokoto State, the price of maize (white) is N228,000 per ton with exchange at +1.33% per cent, sorghum (white) at N225,000, exchange at 0.00 per cent, millet at N227,000, exchange at +3.18 per cent, soyabean at N380,000, exchange at +2.70 per cent.

In Saminaka, Kaduna State, the recent price of maize (yellow) is N212,000 per ton and that of maize (white) is N204,000 per ton. This recent update explains that the maize (yellow) exchange is at -0.93 per cent while maize (white) is -5.56 per cent, soyabean at N346,000, with the exchange at -0.57%, groundnut (unshelled) at N160,000, exchange at +5.26 per cent.

While in Kantudu, Kaduna State, update according to the NCX shows the price of sorghum (white) at N190,000 per ton with exchange at 0.00 per cent, maize (white) at N220,000 per ton, exchange at 0.00 per cent, millet at N210,000, exchange at 0.00 per cent, soyabean at N360,000, with exchange at 0.00 per cent.