Commodities Archives - Nairametrics https://nairametrics.com/category/market-news/commodities/ Destination for Business news and analysis from Africa's largest economy Mon, 10 Jun 2024 13:09:59 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.3 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Commodities Archives - Nairametrics https://nairametrics.com/category/market-news/commodities/ 32 32 201037849 Bullish cocoa prices push Nigeria’s cocoa earnings by 279% in Q1, 2024 https://nairametrics.com/2024/06/10/bullish-cocoa-prices-push-nigerias-cocoa-earnings-by-279-in-q1-2024/ https://nairametrics.com/2024/06/10/bullish-cocoa-prices-push-nigerias-cocoa-earnings-by-279-in-q1-2024/#respond Mon, 10 Jun 2024 13:09:59 +0000 https://nairametrics.com/?p=490991 Nigeria’s cocoa earnings spiked by 279% in the first quarter of 2024 on the back of elevated cocoa prices during the first quarter of 2024.

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]]> https://nairametrics.com/2024/06/10/bullish-cocoa-prices-push-nigerias-cocoa-earnings-by-279-in-q1-2024/feed/ 0 490991 Cocoa prices drop by 26% in two days amid uptick in rainfall, boost in Nigeria’s output https://nairametrics.com/2024/04/30/cocoa-prices-drop-by-26-in-two-days-amid-uptick-in-rainfall-boost-in-nigerias-output/ https://nairametrics.com/2024/04/30/cocoa-prices-drop-by-26-in-two-days-amid-uptick-in-rainfall-boost-in-nigerias-output/#respond Tue, 30 Apr 2024 09:59:31 +0000 https://nairametrics.com/?p=487379 Cocoa prices moderated past their 2-1/2 week low on Tuesday due to increased supplies from Nigeria and an uptick in rainfall.

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]]> https://nairametrics.com/2024/04/30/cocoa-prices-drop-by-26-in-two-days-amid-uptick-in-rainfall-boost-in-nigerias-output/feed/ 0 487379 Nigeria to earn $3 billion from cocoa as prices stay higher than $10,100 per ton https://nairametrics.com/2024/04/18/nigeria-to-earn-3-billion-from-cocoa-as-prices-stay-higher-than-10100-per-ton/ https://nairametrics.com/2024/04/18/nigeria-to-earn-3-billion-from-cocoa-as-prices-stay-higher-than-10100-per-ton/#respond Thu, 18 Apr 2024 06:50:54 +0000 https://nairametrics.com/?p=486120 Cocoa futures recovered above the $10,150 mark on the Intercontinental Exchange (ICE) in New York as it consolidated below this week's record highs while Nigeria plans to boost its production.

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]]> https://nairametrics.com/2024/04/18/nigeria-to-earn-3-billion-from-cocoa-as-prices-stay-higher-than-10100-per-ton/feed/ 0 486120 AFDB looks forward to funding a $250 million gold mine in Zimbabwe  https://nairametrics.com/2024/04/04/afdb-looks-forward-to-funding-a-250-million-gold-mine-in-zimbabwe/ https://nairametrics.com/2024/04/04/afdb-looks-forward-to-funding-a-250-million-gold-mine-in-zimbabwe/#respond Thu, 04 Apr 2024 14:07:02 +0000 https://nairametrics.com/?p=484910 The African Development Bank (AFDB) has shown great interest in funding Caledonia Mining Corporation’s planned $250 million gold mine in Zimbabwe.

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]]> https://nairametrics.com/2024/04/04/afdb-looks-forward-to-funding-a-250-million-gold-mine-in-zimbabwe/feed/ 0 484910 Food crisis: LCFE urges Federal Government to utilize commodities exchanges for food security  https://nairametrics.com/2024/03/28/food-crisis-lcfe-urges-federal-government-to-utilize-commodities-exchanges-for-food-security/ https://nairametrics.com/2024/03/28/food-crisis-lcfe-urges-federal-government-to-utilize-commodities-exchanges-for-food-security/#respond Thu, 28 Mar 2024 06:17:59 +0000 https://nairametrics.com/?p=484233 LCFE has called on the Federal Government to leverage the commodities exchange ecosystem to bolster food security, generate employment opportunities, and bolster Nigeria's foreign exchange reserves.

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]]> https://nairametrics.com/2024/03/28/food-crisis-lcfe-urges-federal-government-to-utilize-commodities-exchanges-for-food-security/feed/ 0 484233 Bitcoin and Gold hit all-time highs once again https://nairametrics.com/2024/03/11/bitcoin-and-gold-hit-all-time-highs-once-again/ https://nairametrics.com/2024/03/11/bitcoin-and-gold-hit-all-time-highs-once-again/#respond Mon, 11 Mar 2024 08:31:17 +0000 https://nairametrics.com/?p=482277 Bitcoin and the yellow metal rallied to a record high once again on Monday's trading session in volatile trading, as crypto mania and the appetite for the precious metal continued to sweep through the global financial space.

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]]> https://nairametrics.com/2024/03/11/bitcoin-and-gold-hit-all-time-highs-once-again/feed/ 0 482277 Gold prices hit an all-time high amid high geopolitical uncertainty https://nairametrics.com/2024/03/05/gold-prices-hit-an-all-time-high-amid-high-geopolitical-uncertainty/ https://nairametrics.com/2024/03/05/gold-prices-hit-an-all-time-high-amid-high-geopolitical-uncertainty/#respond Tue, 05 Mar 2024 08:24:41 +0000 https://nairametrics.com/?p=481728 The price of the precious metal settled at an all-time high on Monday, supported by continuing geopolitical tensions and bets on a Fed rate cut.

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]]> https://nairametrics.com/2024/03/05/gold-prices-hit-an-all-time-high-amid-high-geopolitical-uncertainty/feed/ 0 481728 Gold loses its shine amid hot U.S. inflation data https://nairametrics.com/2024/02/14/gold-loses-its-shine-amid-hot-u-s-inflation-data/ https://nairametrics.com/2024/02/14/gold-loses-its-shine-amid-hot-u-s-inflation-data/#respond Wed, 14 Feb 2024 11:22:10 +0000 https://nairametrics.com/?p=479883 Gold is under pressure amid the hot inflation data from the world's largest economy.

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]]> https://nairametrics.com/2024/02/14/gold-loses-its-shine-amid-hot-u-s-inflation-data/feed/ 0 479883 Nigeria’s grip on Cocoa is weakening as prices near 52-week high https://nairametrics.com/2023/12/27/nigerias-grip-on-cocoa-is-weakening-as-prices-near-52-week-high/ https://nairametrics.com/2023/12/27/nigerias-grip-on-cocoa-is-weakening-as-prices-near-52-week-high/#respond Wed, 27 Dec 2023 10:11:23 +0000 https://nairametrics.com/?p=475848 Cocoa prices have seen strength due to cocoa supply concerns this year amid Nigeria’s dwindling cocoa output. LIFFE Cocoa futures at the time of writing traded in London for GBP 3,557 per ton has a year-to-date of 72.4% and it is not far from its 52-week high of GBP 3,634 per ton.

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]]> https://nairametrics.com/2023/12/27/nigerias-grip-on-cocoa-is-weakening-as-prices-near-52-week-high/feed/ 0 475848 Gold hits record high as Bitcoin is on a rampage, strikes past $41.5K https://nairametrics.com/2023/12/04/gold-hits-record-high-as-bitcoin-is-on-a-rampage-strikes-past-41-5k/ https://nairametrics.com/2023/12/04/gold-hits-record-high-as-bitcoin-is-on-a-rampage-strikes-past-41-5k/#respond Mon, 04 Dec 2023 07:12:40 +0000 https://nairametrics.com/?p=473663 Gold hits record highs, bitcoin at 41k as market bulls came in prepared for the last month of the year.

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]]> https://nairametrics.com/2023/12/04/gold-hits-record-high-as-bitcoin-is-on-a-rampage-strikes-past-41-5k/feed/ 0 473663 Gold lost $21 per ounce despite Israel’s war with Hamas https://nairametrics.com/2023/10/16/gold-lost-21-per-ounce-despite-israels-war-with-hamas/ https://nairametrics.com/2023/10/16/gold-lost-21-per-ounce-despite-israels-war-with-hamas/#respond Mon, 16 Oct 2023 11:05:38 +0000 https://nairametrics.com/?p=468886 Gold prices dipped heavily on Monday, reversing a trend after increased demand for safe-haven assets led to a series of strong gains in the yellow metal, focusing on the possible fallout from Israel's war and Hamas.

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]]> https://nairametrics.com/2023/10/16/gold-lost-21-per-ounce-despite-israels-war-with-hamas/feed/ 0 468886 Why gold looks so cheap, downside risks still remain high  https://nairametrics.com/2023/10/03/why-gold-looks-so-cheap-downside-risks-still-remain-high/ https://nairametrics.com/2023/10/03/why-gold-looks-so-cheap-downside-risks-still-remain-high/#respond Tue, 03 Oct 2023 09:29:48 +0000 https://nairametrics.com/?p=467402 Gold is below a multi-week range, suggesting gold prices will continue to decline in the short term amid rising US Treasury yields.

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]]> https://nairametrics.com/2023/10/03/why-gold-looks-so-cheap-downside-risks-still-remain-high/feed/ 0 467402 Price stagnation on petrol in Nigeria affirms subsidy as brent crude hits $95 a barrel https://nairametrics.com/2023/09/19/price-stagnation-on-petrol-in-nigeria-affirms-subsidy-as-brent-crude-hits-95-a-barrel/ https://nairametrics.com/2023/09/19/price-stagnation-on-petrol-in-nigeria-affirms-subsidy-as-brent-crude-hits-95-a-barrel/#respond Tue, 19 Sep 2023 12:12:46 +0000 https://nairametrics.com/?p=465885 Brent crude crossed the $95 per barrel threshold as the value of the naira versus the US dollar hit a record low at the black market.

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]]> https://nairametrics.com/2023/09/19/price-stagnation-on-petrol-in-nigeria-affirms-subsidy-as-brent-crude-hits-95-a-barrel/feed/ 0 465885 Investors bid N808 billion worth of treasury bills at 9.8% per annum  https://nairametrics.com/2023/08/09/investors-bid-n808-billion-worth-of-treasury-bills-at-9-8-per-annum/ https://nairametrics.com/2023/08/09/investors-bid-n808-billion-worth-of-treasury-bills-at-9-8-per-annum/#comments Wed, 09 Aug 2023 19:35:07 +0000 https://nairametrics.com/?p=460594 Investors bid N808 billion worth of one-year treasury bills in the latest auction of 9th August 2023 at a rate of 9.8% per annum.

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]]> https://nairametrics.com/2023/08/09/investors-bid-n808-billion-worth-of-treasury-bills-at-9-8-per-annum/feed/ 1 460594 Investors bid N384 billion worth of Treasury bills at 12.15% per annum https://nairametrics.com/2023/07/26/investors-bid-n384-billion-worth-of-treasury-bills-at-12-15-per-annum/ https://nairametrics.com/2023/07/26/investors-bid-n384-billion-worth-of-treasury-bills-at-12-15-per-annum/#comments Wed, 26 Jul 2023 18:39:18 +0000 https://nairametrics.com/?p=459332 Investors bid N384 billion worth of one-year treasury bills in the latest auction of 26th July 2023 at a rate of 12.15% per annum. 

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]]> https://nairametrics.com/2023/07/26/investors-bid-n384-billion-worth-of-treasury-bills-at-12-15-per-annum/feed/ 1 459332 Climate change, high demand, speculation push Cocoa prices near 52-week high https://nairametrics.com/2023/07/10/climate-change-high-demand-speculation-push-cocoa-prices-near-52-week-high/ https://nairametrics.com/2023/07/10/climate-change-high-demand-speculation-push-cocoa-prices-near-52-week-high/#respond Mon, 10 Jul 2023 09:45:56 +0000 https://nairametrics.com/?p=457865 Recent inclement weather in West Africa has jeopardized cocoa output, driving up the price of the commodity to all-time highs on the London Intercontinental Exchange.

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]]> https://nairametrics.com/2023/07/10/climate-change-high-demand-speculation-push-cocoa-prices-near-52-week-high/feed/ 0 457865 Crude oil prices rise for a second straight week, Brent crude up nearly 2% WoW https://nairametrics.com/2023/07/07/crude-oil-prices-rise-for-a-second-straight-week-brent-crude-up-nearly-2-wow/ https://nairametrics.com/2023/07/07/crude-oil-prices-rise-for-a-second-straight-week-brent-crude-up-nearly-2-wow/#respond Fri, 07 Jul 2023 10:26:32 +0000 https://nairametrics.com/?p=457655 Friday's strong labour data raised fears of higher U.S. interest rates, but oil prices remain range-bound and could rise for a second straight week on signs of tight supply and rising demand. expensive.

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]]> https://nairametrics.com/2023/07/07/crude-oil-prices-rise-for-a-second-straight-week-brent-crude-up-nearly-2-wow/feed/ 0 457655 BCBS, CPMI, and IOSCO publish analysis of margin dynamics for commodities markets   https://nairametrics.com/2023/05/25/bcbs-cpmi-and-iosco-publish-analysis-of-margining-dynamics-for-commodities-markets/ https://nairametrics.com/2023/05/25/bcbs-cpmi-and-iosco-publish-analysis-of-margining-dynamics-for-commodities-markets/#respond Thu, 25 May 2023 12:13:50 +0000 https://nairametrics.com/?p=453197 Global standard setters have published a report analyzing margin dynamics in centrally cleared commodities markets during the high-volatility episode in 2022. 

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]]> https://nairametrics.com/2023/05/25/bcbs-cpmi-and-iosco-publish-analysis-of-margining-dynamics-for-commodities-markets/feed/ 0 453197 Oil and gold post another week of losses https://nairametrics.com/2023/05/15/oil-and-gold-post-another-week-of-losses/ https://nairametrics.com/2023/05/15/oil-and-gold-post-another-week-of-losses/#respond Mon, 15 May 2023 05:07:19 +0000 https://nairametrics.com/?p=450954 The global oil benchmark showed a drop of 1.5% on the week and almost 14% over the past four weeks.

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]]> https://nairametrics.com/2023/05/15/oil-and-gold-post-another-week-of-losses/feed/ 0 450954 Federal reserve’s rate hike dilemma and its impact on oil and gold https://nairametrics.com/2023/05/08/federal-reserves-rate-hike-dilemma-and-its-impact-on-oil-and-gold/ https://nairametrics.com/2023/05/08/federal-reserves-rate-hike-dilemma-and-its-impact-on-oil-and-gold/#respond Mon, 08 May 2023 08:32:43 +0000 https://nairametrics.com/?p=449738 Following the May policy meeting, some Federal Open Market Committee (FOMC) members broke the blackout period to express their views on rate hikes.

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]]> https://nairametrics.com/2023/05/08/federal-reserves-rate-hike-dilemma-and-its-impact-on-oil-and-gold/feed/ 0 449738