{"id":122178,"date":"2024-11-01T19:02:08","date_gmt":"2024-11-01T19:02:08","guid":{"rendered":"https:\/\/fdcng.com\/?p=122178"},"modified":"2024-11-01T19:02:08","modified_gmt":"2024-11-01T19:02:08","slug":"fdc-commodity-update-october-31-2024","status":"publish","type":"post","link":"https:\/\/fdcng.com\/fdc-commodity-update-october-31-2024\/","title":{"rendered":"FDC COMMODITY UPDATE &#8211; October 31, 2024"},"content":{"rendered":"<p>[vc_row][vc_column]<div class=\"gem-button-container gem-button-position-inline\"><a class=\"gem-button gem-button-size-small gem-button-style-flat gem-button-text-weight-normal\" style=\"border-radius: 3px;background-color: #ddbd89;color: #ffffff;\" onmouseleave=\"this.style.backgroundColor='#ddbd89';this.style.color='#ffffff';\" onmouseenter=\"this.style.backgroundColor='#ddccaa';this.style.color='#000000';\" href=\"https:\/\/fdcng.com\/wp-content\/uploads\/2024\/11\/Commodities-slides-October-31st-2024.pdf\" target=\"_blank\">DOWNLOAD PDF<\/a><\/div> [\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber,<\/p>\n<p><strong><em>Brent increased by 0.50% due to a decline in U.S. crude inventories<\/em><\/strong><\/p>\n<p>Brent futures rose 0.50% to $72.91pb due to an unexpected drop in U.S. crude inventories. The Energy Information Agency reported a 0.12% decrease (515,000 barrels) to 425 million barrels for the week ending October 25, defying analysts\u2019 expectations of a 2.3 million barrel increase. Optimism about U.S. fuel demand and a potential OPEC+ plan to delay output hikes further supported oil prices.<\/p>\n<p><strong><em>The price of onions spiked by 76% in October due to supply shortages<\/em><\/strong><\/p>\n<p>In October, the price of a 50kg bag of onions soared by 76% year-on-year, rising from N85,000 to N150,000. This spike is mainly attributable to supply shortages resulting from floods and post-harvest losses. Prices of onions are expected to remain relatively high, prompting farmers to boost cultivation by investing in fertilizers to increase yield. This increased output will result in a fall in prices in the next season.<\/p>\n<p>FDC\u2019s Senior Associate, Dumebi Oluwole and analyst, Rosemary Adibe, discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated programmes, respectively.<\/p>\n<p>Click the link below to watch the video.<\/p>\n<p>Enjoy your read![\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber, Brent increased by 0.50% due to a decline in U.S. crude inventories Brent futures rose 0.50% to $72.91pb&#8230;<\/p>\n","protected":false},"author":11,"featured_media":122177,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,110],"tags":[],"_links":{"self":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/122178"}],"collection":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/comments?post=122178"}],"version-history":[{"count":1,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/122178\/revisions"}],"predecessor-version":[{"id":122179,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/122178\/revisions\/122179"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/media\/122177"}],"wp:attachment":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/media?parent=122178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/categories?post=122178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/tags?post=122178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<!--Generated by Endurance Page Cache-->