Commodity prices have maintained their upward trajectory this week with further spikes in the price of rice and tomatoes. Tomato prices have increased by a whopping 27% to N14, 000 as the crop season is over, thus, supply has declined as a result, sending prices through the roof.

Rice prices have also shot up by 17% to N17, 500 on border closure taking to account the commodity’s import dependence. On the global front oil prices have sustained a rally this week, trading above $50pb. This comes after last week’s lows of $47pb. 

The FDC Think Tank summarizes these events as the week draws to a close.

Enjoy your read!