Agro Commodities-Novus Agro Commodity Index (NANCI)
Groundnut, Arachis hypogea is a legume crop grown mainly for its edibility. It is widely grown in the tropics and subtropics, being important to both small and large commercial producers.
It harbors symbiotic nitrogen-fixing bacteria in its root nodules, this capacity to fix nitrogen means that peanuts require less nitrogen containing fertilizer and improve soil fertility, making them valuable in crop rotation.
Groundnut is an annual herbaceous plant growing 30 to 50 cm (1.0 to 1.6ft) tall, it only takes about 3 to 4 months to mature.
The wholesale prices of groundnut edible and Kampala from Shuwarin market in Jigawa state are NGN23, 000 and NGN24, 000 respectively per bag and from Bisi market in Ekiti state, the wholesale price of Groundnut edible and Kampala are NGN26,800 and NGN27.500 respectively per bag.
Novus Agro provides historical and current prices of groundnut from the different market across the geopolitical region.
Individuals, businesses or cooperatives can get more insight on over 35 Agro commodities for business planning, analysis or decision making.
Novus Agro also serves as a link between large buyers and over 26, 000 registered farmers from the rural communities for an effective supply chain management of key Agro commodities such as Groundnut, Maize, Sorghum, Rice, Soybeans, Ginger and much more.
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Chiamaka Onyebuchi, Social Media, Professional, Novus Agro Nig.