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  Did you know that you can make money from trading agricultural commodities online, even without possessing those items physically? There are web platforms and apps that give you access to national and international commodities markets, where these things are bought and sold. If you purchase and sell agricultural goods at the right time, you could take away a substantial profit.
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But, like every other exchange system, you need to understand how the agricultural commodities markets work to do well on them. Thankfully, you can learn the relevant skills fairly quickly and become better at trading informed by data. In this article, we’ll walk you through the process of buying and selling these goods via digital platforms.

Traded Agricultural Commodities

These are some of the most widely traded agricultural commodities in national and global markets:
  • Rice
  • Maize
  • Wheat
  • Cocoa
  • Soybean
  • Sorghum

Where to Buy and Sell Agricultural Goods

Here are several platforms on which you can buy and sell these items while in Nigeria:
  • Africa Exchange (AFEX)
  • SABEX (powered by Sterling Bank)
  • AvaTrade
  • OctaFX (international trading platform with a presence in Nigeria)
Note that you need to register on these websites (or on their apps) to begin using them. The range of commodities and quality of service available varies across these alternatives.
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How to Begin Trading Agricultural Commodities Online in Nigeria

If you would like to make money from trading agricultural commodities online, you can follow the following steps:

Understand the Agricultural Commodities Markets

The first thing you should do is to learn how the markets work. Find out what factors influence the price of commodities, such as weather conditions, demand and supply, geopolitical events, currency fluctuations, and new production and storage technologies. Also, familiarise yourself with the various ways in which agricultural commodities are traded—whether that’s futures contracts or options.

Choose a Trading Platform

You should choose a trading platform that meets your specific needs. If you’d like to buy and sell produce cultivated and mostly consumed in Africa, you may utilise AFEX. But if you’re keen on accessing markets outside of the continent, OctaFX might be worth exploring. Before going for any option, make sure to check for security, weigh regulatory coverage, and consider trading costs (commissions, platform fees, etc).

Practice Trading

Several sites offer simulators or training accounts to help people learn the ropes and perfect their trading and investment strategies. These accounts allow users to buy and sell commodities with “virtual money”, i.e. funds that don’t exist. While you do this, you should also read, listen to, and watch content that can help you to become a better online commodities trader. Learn to study the relevant charts, anticipate the impact of news on prices, and operate seasonally where appropriate.

Place Your First Order

You may dive into trading online when you’ve grasped how it operates. Don’t expect to turn a profit with every transaction. Instead, focus on acting prudently and sticking to a strategy. If you find that your approach isn’t working, you can adjust it and try again. In any case, you will have done some of this while participating in simulated trades. Over time, you will master the system enough to earn from it most of the time.
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Final Words

Trading agricultural commodities online is one way to get involved in the agriculture value chain. While some of this activity is speculation, it does help to set prices for agricultural produce sold on the streets. Are you ready to play a role in the local and international agro commodities markets?
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This article was first published on 15th April 2025
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ikenna-nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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