The document lists current commodity prices in three Nigerian cities - Lagos, Kano, and Onitsha. It shows the prices of items like cement, cassava, maize, flour, sugar, rice, palm oil, beans, semovita, and pasta. Domestic commodity prices have remained stable. The document also discusses rice imports, the quality of local rice, herdsmen threatening food security, and stock market performance.

1. Commodity Current Prices
LAGOS
Current Prices
KANO
Current Prices
ONITSHA
Cement (50kg) N1,700 N1,800 N1,700
Cassava (Garri) (50kg) N15,000 N16,400 N15,400
Maize (50kg) N8,200 N8,000 N8,400
Flour (50kg) N8,800 N9,100 N9,000
Sugar (50kg) N9,000 N9,200 N9,250
Rice (50kg) N13,000 N13,500 N13,700
Palm Oil (30L) N9,600 N9,300 N9,000
Beans (50kg) N27,000 N27,200 N27,100
Semovita (10kg) N1,800 N1,900 N1,900
Pasta N2,600 N2,750 N2,700
Domestic Commodity Prices Stable

2. Domestic Prices
2
FOOD STORE
•Domestic prices have remained sticky
•USDA expects rice imports to fall by 500, 000 tonnes to
2.5 million tonnes in 2016
•Influenced by foreign exchange restrictions & current
ban on importation of rice via land borders
•Local rice considered to be of lower quality despite
being more nutritive
•Due to the inflated price of a bag of rice, USDA expects
consumption to decline by 5% to 5.4mt in 2015/16

3. Domestic Prices
3
FOOD STORE
•Herdsmen remain a threat to food security
•Initially, herdsmen and farmers maintained symbiotic
relationship
•In time past, cattle served as a means of transport and
source of manure to fertilize fields while herdsmen
obtained grains for their cattle
•However as farming activities expanded, conflict over
grazing areas arose due to crop damage
•This may stoke inflation in the months ahead

4. Stock Market
Share Prices
(N)
W-O-W
(27 Apr – 29 Apr)
Y-T-D
(Jan - Date)
Nestle 615.26 -0.76% -28.50%
Guinness 91.28 -3.92% -21.10%
Honeywell 1.35 4.70% -27.30%
Flourmill Nig. 21.00 5.00% 1.00%
Cadbury 15.50 4.94% -9.60%
NB 115.89 9.26% -14.80%
Dangote Sugar 5.75 -0.86% -4.60%
• Corporate results are influencing the stock market performance
• Imported items and forex restrictions continue to stifle profitability of
FMCG’s
• Nestle Q1’16: Revenue up 31% to N36.13bn
• PAT increased by 126.4% to N6.68bn
• Stock price down 29% YTD

5. • Brent crude down 4.80% to $45.83pb
• This time in 2015 was $66.45pb
• WTI decreased by 2.72% to $44.78pb
• Oil prices slipped on Chinese Data and increased OPEC output
• The Chinese PMI fell to 49.4 from 49.7 in April
• This marks the 14th consecutive contraction
• Fears of slowing growth in Chinese oil demand pushed oil
prices to 13 year lows earlier this year
Oil Price Movement

6. • OPEC production is projected to have increased to
32.64mpd in April – Reuters
• Russia’s production in April was 10.84mbpd
• Near the 30 – year high of 10.91mbpd reached in
March
• A strengthening of the dollar also weighed on prices
• A stronger dollar makes oil, a dollar denominated
commodity, more expensive
Oil Price Movement

7. Oil Markets Today
7
O I L
BRENT
WTI
NATURAL GAS
-2.80%
-2.72%
-
23.13/%
21.82%
- 12.45%
$45.83pb
$44.78pb
$2.04MMBtu

8. Agric Commodities
Graphic
Design
Wheat Corn Cocoa Sugar
Wheat futures down
by 0.46% to
$4.88/bushel
• Heavy rains boosted
outlook for summer
wheat harvest in
Kansas
Corn prices
decreased by 0.13%
to $3.92/bushel
•Argentine corn
exports doubled and
expected to increase
further
Cocoa prices up
1.10% to $3,217/mt
•Supply deficit
remains a cause for
concern in top
growing regions
Sugar futures up 3.18%
at $0.1621/pound
•Drought seen
shrinking India’s Sugar
production to a seven
year low

9. •With oversupply back in focus, oil prices to take a
bearish turn
•Recent rally may be self-defeating as it throws a
lifeline to US shale producers
•US crude inventories to increase as refineries
reduce demand ahead of the maintenance
season
Outlook OIL

10. •Benevolent US weather may weigh on grain
prices
•US and Argentine corn supplies may reduce
the impact of dry weather conditions in Brazil
•Sugar – India may become net importer of
sugar as drought parches fields
•Cocoa – Bullish outlook for cocoa as supply
deficit expected to increase by 23% in 2016
Outlook Grains
Soft