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Commodity & Trade Updates
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Rasheed Sarumi to gain US$46M in Presco palm oil deal
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.
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Nigerian farmers blame cartels, middlemen for soaring rice prices
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.
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Global wheat prices remain under pressure as strong supply weigh on markets
Markets eased up to the end of July, pressured by strong supply prospects, harvest progress, currency movements, and lacklustre export demand.
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Russia suspends grain export tariffs to boost trade with Türkiye
The move will temporarily eliminate duties of on wheat, corn, and barley.
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Qatar launches major barley tender to boost livestock sector
This initiative is set to provide vital support to Qatar’s livestock industry.