FDC COMMODITY UPDATE – AUGUST 15, 2017

Bonny light slipped 0.93% to $50.26pb following a slowdown in Chinese refining volume. The oil markets are still essentially oversupplied due to aggressive US shale production.

The good news is that the price of old yam has declined by 6.6% to N1,400.00 per tuber and a 50kg bag of rice is down 8.1% to N17,000.00.

The attached slides are a synopsis of domestic and global commodity market activities this week.

Enjoy your read!