Agricultural commodities, not oil, delivered the clearest cross-market signal for African stock markets today. As of Wednesday, August 12, 2026, cocoa rose 3.2% to $5,719 a tonne, coffee fell 5.5% to 317.25 cents/lb, wheat climbed 3.9% to 654.5 cents/bushel, and cotton added 2.3% to 85.03 cents/lb. For investors in African equities, that mix matters because it supports cocoa-linked names on the BRVM, weakens coffee-exposed counters in Nairobi, and raises fresh input-cost concerns for Tunisia-listed consumer companies.
The macro backdrop made those commodity moves more powerful. Brent crude stood at $88.69 a barrel, up 6.2% on the week, as global commentary on security risks around the Strait of Hormuz kept freight and energy costs elevated. At the same time, the dollar strengthened by 2.97% against the MAD, 2.99% against the TND, and 0.71% against the KES, while the XOF remained fixed to the euro at 655.957 per euro. That currency split matters: West African exporters tied to cocoa enjoy a relatively steadier FX framework, while wheat-importing and coffee-processing markets face a heavier imported-cost burden.
Key figures
- Cocoa: +3.2% to $5,719
- Coffee: -5.5% to 317.25 cents/lb
- Wheat: +3.9% to 654.5 cents/bushel
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