ICYMI: Why price of maize keeps rising
Though in season, the price of maize has risen steeply, and like other agro produce, it’s gradually going beyond the reach of the common man.
As of Thursday, The Guardian confirmed that the price of a tonnage has increased between 25 per cent to 40 per cent compared to last year. It was revealed that a ton of maize sold for N180, 000 last year is currently selling for between N270, 000 to N280, 000.This has inadvertently led to the price increase in feeds, flour, and all the derivatives from maize. The poultry industry seems to be hard hit as many farms and hatcheries have been forced to go underground.
But based on current reality, industry players are raising alarm that the industry might face more challenges in months to come as the rising cost of the commodity due to its shortfall might spell doom for the already distressed industry. “The problem resides in the small-scale farmers but the commercial farmers tend to use insecticide, but smallholder farmers have financial challenges of getting it.”He said to a very large extent, there should be some effect of the fall armyworm infestation on the price of the commodity in months to come.
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