Renewed demand for palm oil caused prices to rise
Local palm oil producers are set to gain as demand for palm oil from top buyers, China and India caused prices to surge by 4.2 percent to $975, Thursday, after a recent selloff, with a rally in rival soybean oil prices further supporting the market.
Read also: Opportunities beckon for Nigeria’s palm oil producers
Meat producers most exposed to climate risk among agribusiness
According to Fitch ratings, meat production, especially beef, is the most vulnerable to long-term climate risks in the global agriculture, packaged food, and beverages sector due to having the largest greenhouse gas (GHG) emissions footprint in the face of tightening regulations and shifting demand.
Read also: NSIA, Vitol to commit $50m to climate solutions in Nigeria
Naira weakened despite 172.95% rise in dollar liquidity
After trading on Thursday, Naira lost 0.10 percent as the dollar was quoted at N428.16 compared to N425.75 closed on the previous day at the I&E window, data from the FMDQ indicated.
Transcorp’s market price surged by 2.40%
Transnational Corporation plc, at the close of trading on Thursday, saw its market price surge by 2.40 percent to N1.28 kobo, taking its market capitalization to N52 billion.
