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Nigerian brewers are increasing their use of sorghum in place of imported barley malt because of central bank foreign exchange restrictions on food imports. Investment in local sorghum malting plants is growing, and more farmers are planting sorghum.
Rising domestic sorghum demand in Nigeria can tighten local supply and support sorghum prices, while reducing barley imports. The impact on world prices is limited.
businessday.ngJosephine Okojie-OkeiyiSep 11, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
