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Across Your Markets

Change in commodity futures prices YTD May 8, 2020: Cocoa (-4.8%); Wheat (+3.7%); Maize (-17.5%); ICE Natural gas (-55%); Gold (+12.1%); Soyabeans (-23.1%); Cotton (-18.2%); Rough rice (+27.2%); Platinum (-18.5%); Arabica coffee (-15.1%); Brent crude oil (-53.3%); Copper (-14.6%); Sugar (-23.3%);     Whilst Africa's growth in 2020 could fall to its lowest since the 2008/9 global financial crisis, the asymmetric nature of shocks facing the region, coupled with increasing investment and cross-border trade, should help the region recover speedily.

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Monday, September 21, 2020

Grains

Nigeria: An arsenal of ‘F’ words-Forex, Food and Fertiliser

Food and fertiliser importers will have to source foreign exchange independently of the central bank as part of efforts to stem forex outflows and narrow Nigeria’s trade deficit. The country’s trade deficit widened to NGN 178.2 billion in June 2020, the largest in over 15 years. Nigeria spent 16 percent of its total import bill

Can South Africa export food inflation to West African markets?

South Africa may export food inflation to West African markets if traditional importers are not nimble enough to look for alternative sources and solutions in a global market awash with opportunity. A spike in South Africa’s food inflation South Africa’s agriculture is being pummelled by a debilitating drought with temperatures expected to remain above normal