The Nigerian Poultry Association (PAN) recently announced that poultry & egg prices will continue to rise due to inflation. This has particularly affected poultry feed prices.

Pius Aminu, president of his FCT chapter of the Nigerian Poultry Association (PAN), said at an event marking World Egg Day 2022 said: “The surge in egg production is due to high feed costs nationwide making it unaffordable for farmers, citing unstable and inadequate access roads to poultry farms as an additional problem.

“Right now it is very difficult to bring the price of eggs down, but as demand is outstripping supply due to the closure of some farms, egg prices will continue to rise.

“The bulk egg purchase price could be N2,500 or more, depending on the case. Exchange rates have a real impact on the micro-ingredients used in feed formulations. So, although we don’t know at this point, we can’t say for certain that the price will remain as it is today. ”

He therefore called on the federal government to ease farmers’ plight by providing flexible lines of credit, subsidies, and collateral to protect their farmland from outside attacks.

Food inflation in Nigeria has continued to worsen in recent months, and investor King understands that insecurity has pushed many farmers off the land they are supposed to grow and harvest.

Growth in the Nigerian agricultural sector has been patchy and slowing since the fourth quarter of 2020, rising to a surprising 3.58% in the fourth quarter of 2021 and growing to 2022 in 2022, according to NBS data. It slowed to 3.16% in the first quarter.

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Source: Investor King