News in Brief:
The Poultry Association of Nigeria (PAN) is urging the government to grant it an import licence for maize to reduce production costs and subsequently lower the price of poultry products, such as eggs.
The Poultry Association of Nigeria (PAN), Lagos State chapter, has called for the issuance of an import licence for maize to alleviate soaring production costs.
Mr. Mojeed Iyiola, chairman of the association, made this appeal during an interview in Lagos. He attributed the rising cost of poultry products, such as eggs, to the escalating price of poultry feed.
Essentially, Mr. Iyiola explained that production costs have skyrocketed since the beginning of the year. This, he said, has prompted the association to seek government intervention. He criticised the current import licence system, alleging that it benefits a select few at the expense of poultry farmers.
“We believe that granting the association an import licence would enable us to procure maize at a reduced cost and pass on the savings to our members,” he said.
Soaring feed costs drive up egg prices
The impact of rising feed costs on egg prices is significant because feed producers allegedly increased prices by a minimum of ₦800 every three days. The price of a 25kg bag of grower feed has surged from ₦3,500 to nearly ₦13,000 within the year, Iyiola claimed.
He concluded by saying that the association is committed to finding solutions to the challenges facing the poultry sector and ensuring the affordability of poultry products for consumers.
Generally, the cost of eggs in Nigeria has been on a steep upward trajectory in recent times, leaving consumers grappling with increased household expenses. This surge in prices has ignited widespread concern as eggs are a staple protein source for many Nigerians, particularly low-income households.
The escalation is attributed to a confluence of like rising feed costs, transportation challenges, and increased operational expenses for poultry farmers.
As a result, consumers are facing a double whammy of inflation, with the price of essential commodities like eggs significantly impacting their budgets.
