Wheat price rises by 50% as import falls
Since the beginning of 2022, the price of durum wheat has increased by 50 percent, while imports have declined by 16.09 percent.Information Guide Nigeria
This is due to the global wheat shortage caused by the Russian-Ukrainian conflict and the lack of foreign currency in the country.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaSpeaking to The PUNCH, the National Public Relations Officer, National Wheat Farmers, Processors and Marketers Association of Nigeria, Tola Ogunnubi said, “Before the war, it was selling for N27,000 to N28,000 for 100kg, it is N41,000 to N42,000 now.”
In the first nine months of 2022, durum wheat imports into Nigeria fell by 16.09 percent year on year. The overall importation of durum wheat into Nigeria in the first three quarters of 2022 was N753.59 billion, a N144.59 billion decrease from the N898.19 billion in the same time in 2021, according to figures from the National Bureau of Statistics.NYSC portal
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According to the NBS, durum wheat is the most important agricultural import into Nigeria. “The largest agricultural items imported in Q1, 2022 included durum wheat (not in seeds) from the United States with N71.56 billion and Argentina with N59.04 billion,” it stated.
“The major agriculture goods imported in Q2, 2022 included ‘Durum wheat (not in seeds)’ from the United States of America with N70.67bn and Lithuania with N60.87bn. The major agriculture goods imported in Q3, 2022 included ‘Durum wheat (not in seeds)’ from the United States of America with N78.29bn and Poland with N45.62bn.”JAMB portal
Ogunnubi said, “Wheat importation is decreasing but it doesn’t mean that we have achieved wheat sufficiency as such. We have wheat still retaining the third position in terms of commodities that engulf the highest FX. It is after refined petrol products and gas.
“Wheat is still the third highest and we are looking at a situation where we have wheat sufficiency just as we’ve had in rice. We are looking forward to the government encouraging wheat farming, and production. We are imploring the government to come into the entire value chain of wheat production. From planting processing, distribution, everything across the full value chain.”
“Wheat is fast becoming a staple food. If people are not eating maize, they are eating bread, flour, spaghetti, which are some of the side products from wheat. So why are not sufficient.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada“The crisis in Russia and Ukraine is affecting importation but that does not mean there are no other markets for importation. The durum wheat that we tend to process in Nigeria can be sourced from Mexico. It is not as if people are not looking in that direction, but the CBN is not giving foreign exchange. The CBN is not giving FX for wheat importation.”JAMB Result
According to him, a loaf of bread in Abuja that cost between N350 and N400 at the start of the year is now N800.
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