The price of Brent oil has recovered 6.1% in the last two days to $62.58pb. The market is reacting positively to Russia and Saudi Arabia’s decision to extend the production cut agreement ahead of OPEC’s bi-annual meeting on December 6.
A recent survey conducted by FDC showed that some domestic commodity prices declined. In particular, the price of tomato fell by 33%, while egusi was down 11%. However, this could be transient because December is typically associated with increases in commodity prices due to festive demand.
The attached slides address these and other issues in the domestic and global commodities market.
Enjoy your read!