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BREAKING Expect crash in food prices farmers and others tell Nigerians

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Expect crash in food prices farmers and others tell Nigerians

Off recent there have been high cost of Food in different parts of Nigeria.

Farmers and other stakeholders in the agricultural sector have projected that the high cost of food in most parts of the country will begin to drop in few months time.

According to them current high cost of agro-produce was because the volume of farm commodities stored in warehouses were dwindling, among other reasons.

The National Bureau of Statistics confirmed the high cost of food in its recent Selected Food Prices Watch report.

It stated, for instance, that the price of rice appreciated in September 2020. This cost further increased in the succeeding month, based on findings from marketers and agro-dealers.

“The average price of 1kg of rice (imported high quality sold loose) increased year-on-year by 39.07 per cent and month-on-month by 2.87 per cent to N516.13 in September 2020 from N501.71 in August 2020,” the bureau stated.

But farmers and other operators in the industry expressed optimism that the cost of the food would drop in about two months time.

The National President, AFAN, KKabir assured us that food costs will reduce especially interior or remote locations where harvesting has commenced.

Using Maize as an instance, he said the price for a sack as is usually measured used to be between N17,000 and N20,000 but it is now going for about N15,000 in some locations.”

Ibrahim added, “The price of rice is still high because farmers are harvesting now and have a lot of paddy. But the price is gradually coming down, especially in places far away from major city centres.”

Expect crash in food prices farmers and others tell Nigerians Newsheadlinesng reporting

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