Sesame seeds, or beni-seeds as they are locally known, are among the most commercially viable crop critical to the agricultural economy of Nigeria. Despite the high viability of the crop, data from the Food and Agriculture Organization (FAO) shows Nigeria’s production of sesame has been
What does it mean to build a clean and fair palm oil supply chain? For drivers in Indonesia used to unsafe working conditions, this is what it could look like. When Jali first formed transport company Parung Jaya Cooperative, he only had five trucks. Today, he
Commodity investors are back in full force, with record wagers that crops, metals, and oil are set for a rally. A weakening dollar is making materials denominated in the currency more appealing at a time when equities are on a tear and the world is
Will COVID-19 kick-start a new commodities super cycle? Goldman Sachs thinks so. While last year’s strong rebound in many commodity prices might be viewed as a “V-shaped vaccine recovery,” the bank contends it is just “the beginning of a much longer structural bull market for
Oil edged lower on Friday, falling more than 2% on the week as COVID-19 cases surged globally and oil supply is set to rise in coming weeks. Brent crude futures LCOc1 settled at $41.92 a barrel, down 2 cents, while U.S. West Texas Intermediate (WTI) crude futures CLc1 lost
Some crude from a vast Nigerian glut was being absorbed in recent tenders, though differentials had slipped significantly. * The VLCC of Nigerian Bonny Light from Shell awarded by India’s HPCL for Nov. 1-10 loading sold for less than dated Brent minus 50 cents, traders
Jet fuel consumption remains the hardest hit section of the global oil market as passengers avoid air travel as a result of the pandemic and government travel restrictions. The specific problems of the jet market explain why refinery margins for closely related distillates such as
Nigeria is holding talks to give up majority stakes in all four of its moribund oil refineries, Mele Kyari, head of the state oil firm NNPC, said on Wednesday. He told Channels TV that discussions were taking place on an operating model in which the
Looking for pre-pandemic consumption as early as Q4- Inventory data remains bullish The price of oil is sitting at just below $43 per barrel Technical factors point higher, and so does the price action in other commodities The price of nearby October crude oil futures
Whenever the commodity cycle reaches a trough, all eyes turn to China. Asia’s biggest powerhouse has through years of explosive growth become the top—or one of the top—importers of many commodities, leading the producers of these commodities to base their own growth strategies on China’s