Farmers Sounds Alarm To Nigerians ‘Consumers Will Suffer As Egg And Fish Prices Continue To Climb’

Farmers Sounds Alarm To Nigerians ‘Consumers Will Suffer As Egg And Fish Prices Continue To Climb’

The poultry industry in Nigeria has experienced notable growth in recent years, fueled by rising demand for poultry products..… CONTINUE READING

However, the sector faces a significant challenge: the soaring cost of poultry feed. This article by Naija News examines how the increasing inflation rate is impacting poultry farming in Nigeria.

Overall inflation in Nigeria has been climbing, leading to higher prices for various commodities, including feed ingredients. Key components of poultry feed, such as corn, soybeans, and wheat, have seen significant price hikes. The industry’s dependence on imported feed ingredients, particularly soybeans, leaves it vulnerable to fluctuations in exchange rates; a weaker naira raises import costs, which are ultimately passed on to poultry farmers.

Additionally, the prices of corn and brown maize, crucial raw materials for poultry feed production, have surged. As the poultry sector continues to expand, the growing demand for feed ingredients further strains supply, contributing to rising prices.