An overview of commodity prices at NCX
By Grace Adetutu
PCereal prices on the Nigerian Commodity Exchange (NCX) have continued to rise over the past week.
The NCX market, which is an organized marketplace for buyers and sellers of agricultural commodities and solid minerals, provides information on current market prices for grain and food commodities sold in different areas.
Data on NCX as of January 8, 2022 shows the price of maize (yellow) at Dawanau Market in Kano State at N230,000 with a trade at +0.00%; corn (white) at 225,500 N with exchange at -2.17%, millet at 230,000 N with exchange at -4.17, soybean at 370,000 N and exchange at -5.13%, and sorghum (white) at N220,000 with exchange rate at +15.79 percent.
In Doma area of Nasarawa State, data as of January 5, 2022 shows the price of melon (unshelled) per ton at N498,412 and exchange at 1.21%, groundnut (unshelled) at 226,820 N with exchange at +0.49%, white maize at 162,719 N with trade at +5.05%, paddy rice at 188,926 N with trade at +1.50%.
In Illela, Sokoto State, the price of maize (white) is N228,000 per ton with an exchange rate of +1.33% per cent, sorghum (white) at N225,000 per tonne exchange rate of 0.00%, millet at N227,000, an exchange rate of +3.18%, soybeans at N380,000, exchange rate at +2.70%.
In Saminaka, Kaduna State, the recent price of maize (yellow) is 212,000 Naira per ton and maize (white) is 204,000 Naira per ton. This recent update explains that the Corn (Yellow) trade is at -0.93% while Corn (White) is at -5.56%, Soybeans at N346,000, with the trade at – 0.57%, groundnut (unshelled) at 160,000 N, changes to +5.26 percent.
While in Kantudu, Kaduna State, the update according to NCX shows the price of sorghum (white) at N190,000 per tonne with trade at 0.00%, maize (white) at N220,000. N per tonne, 0.00% trade, millet at 210,000 N, 0.00% trade, soybeans at 360,000 N, with 0.00% trade.