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Commodity: sorghum prices expected to rise by 20% in 2024 in Nigeria

01/02/2024
Source : ORISHAS FINANCE
Categories: Raw materials

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Commodities Exchange (AFEX), the country's first private agricultural commodity exchange, indicated in its annual report, which looks at commodity price trends and prospects, that in Nigeria, sorghum prices on the local market are expected to rise by 20% in 2024.

In Nigeria, sorghum is the third most consumed cereal after maize and rice. AFEX said that as maize stocks run out amid growing demand, consumers could see sorghum as a substitute for meeting their carbohydrate needs. In the document, AFEX believes that as the request for mas ï style="font-family: "Bookman Old Style”, "serif">é volue et d passe potentiellement l 'E' offre disponible, on s attend ' ce que les consommateurs se tournent vers le sorgho comme alternative, ce qui fait grimper les prix du sorgho en raison de l' augmentation de la demande dans un contexte d' offre limité ”.

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