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Global Food Commodity Prices Show Slight Decline in August
Global Food Commodity Prices Show Slight Decline in August....KINDLY READ THE FULL STORY HERE▶
The Food and Agriculture Organization (FAO) reported on Friday that global food commodity prices experienced a marginal decline in August. This decrease was primarily influenced by lower prices for sugar, meat, and cereals, which outweighed increases in vegetable oils and dairy products.
The FAO Food Price Index, which tracks monthly changes in international prices of a basket of globally traded food commodities, averaged 120.7 points in August. This figure reflects a slight decrease from the revised July figure and is 1.1 percent below its corresponding value from August 2023.
Cereal Prices Decline
According to information from the FAO’s website, the Cereal Price Index dropped by 0.5 percent from July. This decline was driven by lower global wheat export prices due to competitively priced Black Sea supplies and higher-than-expected production in Argentina and the United States.
Meanwhile, world maize prices firmed slightly, influenced by heatwaves affecting yields in parts of Europe and North America. Additionally, the FAO All-Rice Price Index increased by 0.6 percent, as prices for non-Indica varieties rose due to seasonal tightness and currency appreciations in some exporting countries against the U.S. dollar.
Vegetable Oils and Dairy Prices Rise
The FAO Vegetable Oil Price Index rose by 0.8 percent from July, reaching a 20-month high. This increase was driven by higher international palm oil prices, which more than offset declines in soy, sunflower, and rapeseed oils.
The FAO Dairy Price Index also saw an increase, rising by 2.2 percent in August. Whole milk powder prices surged due to heightened import demand for spot supplies. International cheese prices climbed as well, while international butter quotations hit an all-time high due to uncertainty surrounding milk supply adequacy in Western Europe.
Meat and Sugar Prices Decline
The FAO Meat Price Index fell by 0.7 percent from July, with prices for poultry, pig, and ovine meat all experiencing declines amid lackluster import demand. Conversely, world bovine meat prices increased slightly.
The FAO Sugar Price Index experienced a significant decline of 4.7 percent in August, reaching its lowest level since October 2022. This drop was supported by an improved production outlook for upcoming sugarcane harvests in India and Thailand, as well as lower international crude oil prices. However, concerns regarding the impact of fires on sugarcane fields in key growing areas of Brazil led to sharp price increases in late August.
Future Projections and Cereal Production Forecasts
The FAO has also revised its forecast for global cereal production in 2024, now estimating it at 2,851 million tonnes, nearly on par with the production of 2023. The new Cereal Supply and Demand Brief attributed this revision to reduced harvest expectations for coarse grains, including maize, primarily due to hot and dry weather conditions in the European Union, Mexico, and Ukraine.
Conversely, the FAO has raised its forecast for global wheat output in 2024, as well as rice production, which is now projected to reach an all-time high of 537 million tonnes. The world cereal total utilization for 2024/25 is forecasted to rise to 2,852 million tonnes, reflecting a 0.2 percent increase from 2023/24.
Utilization of rice is predicted to reach record highs, driven by expected accelerated growth in food intake. World cereal stocks are also forecasted to expand by 1.2 percent at the end of the 2025 season, resulting in a global cereal stocks-to-use ratio of 30.7 percent for 2024/25.
Finally, international trade in total cereals is now estimated at 485.6 million tonnes, which represents a 3.3 percent decline from 2023/24, mainly due to lower traded volumes in coarse grains.
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Peter Obi’s Convoy Attack: Police Unmask Arrested Suspect, Disclose What Happened.
The Cross River State Police Command has arrested a suspect over the attack on the convoy of Peter Obi, presidential candidate of the Nigeria Democratic Congress (NDC), in Calabar, the state capital.....KINDLY READ THE FULL STORY HERE▶
The incident reportedly occurred at about 2:20 p.m. at the Watt Market Roundabout while the convoy was returning from the palace of the Obong of Calabar to the Metropolitan Hotel, where the party’s presidential town hall meeting was scheduled to take place.
The attack resulted in the windshields of some vehicles in the convoy being smashed.
In a statement issued on Wednesday, the Police Public Relations Officer, ASP Sunday Eitokpah, identified the arrested suspect as 27-year-old Victor Edet Yellow Duke.
According to the command, a group of suspected hoodlums, allegedly armed with machetes and sticks, emerged from the Calabar Road and Clerks Alley axis before attacking vehicles in the convoy.
The police said the exact number of vehicles affected had yet to be determined.
Officers deployed in the area quickly intervened to contain the violence. Their response, which involved the use of tear gas, resulted in the arrest of Duke, while the other suspected attackers escaped.
The suspect was subsequently transferred to the State Police Headquarters by operatives of the Violent Crime Response Unit (VCRU) for what the command described as a discreet investigation aimed at preventing possible reprisals or further threats to public order.
The police added that normalcy had returned to the area.
Meanwhile, the Commissioner of Police, CP Ajo Geoffrey Ordue, has ordered a comprehensive investigation to identify and apprehend the other suspects involved and establish the full circumstances surrounding the attack.
The command also cautioned the public against assuming that the arrested man was guilty, stressing that he remained entitled to the presumption of innocence.
“The arrest of a suspect does not amount to a determination of guilt, as the suspect remains entitled to the presumption of innocence pending the conclusion of investigation and any subsequent judicial proceedings,” the statement said.
The police assured residents, political stakeholders and visitors that adequate security arrangements remained in place across the state.
It also reaffirmed its commitment to “providing equal security protection to all political parties, candidates and their supporters, irrespective of political affiliation.”
The command urged members of the public to remain calm, refrain from circulating unverified information and report suspicious activities through established police channels.
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Osun Govt Moves Against Oluwo, Places Monarch Under Close Watch
The Osun State Government has placed the Oluwo of Iwo, Oba Abdulrasheed Akanbi, under close monitoring over what it described as inflammatory remarks capable of threatening communal and religious harmony.....KINDLY READ THE FULL STORY HERE▶
The government disclosed its decision in a letter issued by the Ministry of Local Government and Chieftaincy Affairs, Office of the Permanent Secretary. The letter, with reference number CD.17/1/VOL.VIII/377, was dated November 2026 and signed by Wale Alliyu on behalf of the Permanent Secretary.
In the correspondence, the government directed the monarch to stop making remarks targeting people of other religious beliefs and fellow traditional rulers.
A copy of the letter was also forwarded to the Ooni of Ife, Oba Adeyeye Ogunwusi, in his capacity as Chairman of the Osun State Council of Obas.
The government warned that the Oluwo’s alleged conduct was heightening communal tension, encouraging religious and communal division, and undermining the traditional values of his people and the Yoruba race.
In the letter, addressed to the monarch and received by his secretary on Tuesday, the government said it had taken note of several widely publicised statements and pronouncements attributed to Oba Akanbi, which it believed could trigger religious confrontation, conflicts between communities and a breakdown of public peace.
It added that the continued pattern of what it described as crisis-inducing remarks and disruptive behaviour had reached a point that the administration could no longer overlook.
The letter read:
“You cannot, and you must not, conduct yourself in any way that can foment religious crisis through serial attacks on people of other faiths. Your Royal Majesty is also invited to note that just as the traditional stool should not be used to incite religious war, its occupants should also be mindful not to erode the traditional values, culture and tradition of the society over which they preside.
“The government notes with shock and disbelief several statements and public utterances credited to Your Royal Majesty without denial.
“Your activities are raising communal tension, sowing seeds of communal and religious discord and increasingly discrediting the traditional values of your people and Yoruba society, of which your domain is a major part.
“These developments constitute serious threats to the peace, unity and stability of Osun State and your immediate domain.”
The government subsequently outlined a series of cautionary measures aimed at preventing a possible outbreak of religious or inter-community conflict.
It directed the Oluwo to:
- Immediately stop making further attacks against people of other faiths, stressing that every citizen has the right to freedom of religion.
- Refrain from attacking fellow traditional rulers to prevent possible conflicts between communities.
- Protect and promote the culture and traditions represented by the traditional institution he occupies.
- Conduct himself in accordance with the standards and regulations contained in the Chieftaincy Laws and resolutions of the State Council of Obas.
- Comply with the ministry’s cautionary directives, with the Ministry of Local Government and Chieftaincy Affairs tasked with monitoring his conduct.
- Take note that the State Council of Obas had also been directed to monitor and respond to recent developments in Iwo land.
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Fresh Setback For NDC As Court Blocks INEC From Recognising Gwarzo.
Fresh court documents from the Federal High Court in Kano have provided an explanation for the absence of Aminu Gwarzo, the Nigeria Democratic Congress (NDC) governorship candidate in Kano State, from the updated list released by the Independent National Electoral Commission (INEC).....KINDLY READ THE FULL STORY HERE▶
Certified true copies of the court processes indicate that INEC was restrained by a court order from publishing the name of any NDC governorship candidate in the state.
The suit was filed by three party members, Garba Isa, Yau Nasiru and Atiku Abubakar, who listed INEC and the NDC as defendants.
The plaintiffs are challenging the emergence of Gwarzo as the party’s governorship candidate and Mustapha Kwankwaso, son of NDC vice-presidential candidate Rabiu Kwankwaso, as his running mate. They accused the Kwankwasiyya leader of imposing the candidates on the party.
Through their lawyer, S.A. Abdullahi, the plaintiffs filed an ex parte application on October 17, 2026.
In a ruling delivered on October 27, Justice Amobeda restrained INEC and anyone acting on its behalf from publishing the name of any NDC governorship candidate in Kano State until the court hears the motion on notice.
The judge also ordered the commission not to alter the final list it released on October 10. He directed that the court processes be served on the defendants and scheduled an accelerated hearing for November 2.
The documents appear to support INEC’s position that Gwarzo had been cleared but could not be listed because of the subsisting court order.
However, the hearing scheduled for Monday could not proceed after Gwarzo’s lawyer applied to join the case as a party.
The court subseq
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