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Lagos State launched a N5 billion Eko Rice forward contract, listed on the Lagos Commodities and Futures Exchange, priced at N33,000 per 50 kg note with a 60-day tenor. The paddy comes from the state-owned Imota Rice Mill.
This is a local Nigerian rice supply-management program with a small effect on global rice or feed prices. It has no clear global price implication.
lagosbased.comBoluwatifeJun 22, 2023After 468 past policy events, Rough Rice moved a median +0.3% over 5 sessions (53% higher; middle half -2.0% to +2.0%), 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.
