Commodity & Trade Updates

The government had aimed to procure between 4mln and 5mln tons of wheat from the local harvest, which it estimated at a total of around 10mln tons

China, the world’s largest buyer of soybeans, typically sources the oilseed from both the U.S. and Brazil.

This marks Lead Food Capital’s first acquisition in the region, positioning it for further expansion in the specialty soybean and non-GMO seed markets.

Rasheed Sarumi’s US$46-million gain from Presco’s acquisition of Saro Oil Palm underscores the deepening connection between Nigeria’s corporate elite and the country’s agricultural trajectory, while reigniting debate over governance standards, inclusive growth, and fair wealth distribution within the sector.

A 50 kg bag of local rice currently sells between US$43 and US$53, up from US$30 to US$36 just two months ago.