Africa’s leading commodities player, AFEX, unveiled its 2023 crop production report in a hybrid event hosted at its Abuja office on November 16, 2023, predicting an increase in prices of commodities in the 2023/24 season. The crop production report which delivers insights on six key commodities (maize, paddy rice, soybean, sorghum, cocoa, and sesame), leverages farmer surveys and measurement of transaction-level data to track vital information across crop production, price performance, and market dynamics. The report will aid the understanding of the current food system while providing stakeholders in the commodities market with intel to make data-driven trading decisions in the coming season. Currently, Nigeria’s Global Hunger Index score remains alarmingly high, ranking 109th out of 125 countries, indicating a severe food security crisis. The report notes that as food prices continue to surge as witnessed in the 2023 season, food security challenges will continue to persist, further reducing the continent’s capacity to achieve zero hunger by 2030.

Source: Nigerian Tribune November 19, 2023 10:32 UTC