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Dockworkers endorsed a strike by Nigerian Labour Congress affiliates, including the Maritime Workers Union, that could shut ports including Lagos. The Nigerian Ports Authority said about 34 vessels carrying petrol, diesel, general cargo, sugar, wheat and fertiliser could be affected.
A port shutdown would delay wheat and fertiliser deliveries into Nigeria and could tighten near-term import supply, giving modest support to wheat prices. The effect is likely limited unless the strike lasts and spreads.
guardian.ngAnthonyNov 6, 2018After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
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.
