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Bumper maize and millet harvests in Katsina State, Nigeria, have pushed local farm produce prices sharply lower. Sorghum has fallen to about N9,000 from N16,000-18,000 last season as buyers switched to cheaper maize.
Maize bags dropped from N16,500 to N8,500.
Local substitution toward abundant maize and millet is weighing on Nigerian sorghum demand, though the effect on international feed grain prices is minimal.
dailytrust.comAdo Abubakar Musa, JosOct 19, 2017Not 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.
