Skip to main content

Harvest, Abundant, and Scarcity: An overview of Nigeria Food Market

 

Is Beans now on a free fall, could this be what we are expecting?

Happy new month and independence, the economy has enjoyed its roller coaster and here we are with some harvest getting ready for distribution.

drum bean history

AGRIC PRODUCE OVERVIEW

  1. Beans Price Plummet;

    The price of beans which continues to reach all-time height has taken a turn around, first let us examine this bearish run and let us hope it last before festivity season demand catches up.

    • As forecasted the beans market has a dip and this is expected to continue as the previous height is just too extreme, but still we can't be expecting a return to a 50kg bag for ₦14,000 as of last year. As the supply chain has completely changed and measuring an Agriculture produce cost and productivity is denominated by the index of input cost, which has likewise changed. And the figure is not lying about this as the core inflation index that represents energy and food continues to experience a height.

    • As this harvest will continue to reduce the increase in food, also noteworthy is the increase in oil that has always been a blessing and something to worry about for our country, with Uk. oil scarcity and China energy demand. This height cost of oil which peaks at the height of $80 per barrel could also affect the logistics of produce. Productivity has not all uniform across the country as the climate is hitting hard having some north states experiencing famine, like Jigawa, and others Flood like Yobe. All this coupled with the festivity demand can leave this curve not meet much expectation.

  2. Join our mail list and be the first to receive an update; http://eepurl.com/g679SP

Comments

Post a Comment

Popular posts from this blog

Basics things to know about different types of Beans in Nigeria

Arguably, beans is the most consumed agricultural food product in Nigeria mostly especially by student in various institution. Beans has a kidney like shape, while some are spherical in shape. Beans is very nutritious and a major source of protein. It other nutrient such as Vitamin A, protein, iron, vitamin B6, vitamin E . Beans can just be boiled or cooked in making of several recipe such as Akara, Moi Moi, and soup, locally, known as “gbegeri” In a tremendous quantity, most of brown beans compared to black-eyed beans in the country are abundantly cultivated by the farmers in northern parts of Nigeria such as Borno, Gombe, Kano, Sokoto, Yobe and Zamfara State.   Types of Beans grown in Nigeria People prefer eating brown beans simply because it is more nutritious and it contains high concentration of protein. But ignorance has led many people into buying poor quality and mixed beans in an open market. In an open market, different kind of beans are begin mixed together, a...
2 comments
Read more

Cause and Effect (African Agro Supply Chain)

Govt banning of foreigners from direct farm purchase AGRIC PRODUCE OVERVIEW The supply chain has been disrupted for a while now, from covid restriction, fuel, and a lot more. But today we like to highlight another two major recent ones which particularly affect the Agro supply chain and how they affect you and me. First is the wheat shortage, which is the escalating condition from the war between Russia and Ukraine, which produces 25% of the world wheat combined, before you think what about the other 75%, this is a global supply chain and those ones already have their market, and Nigeria is among the top customers of this two-nation above. Note like we always mention here things have cause and effect, especially in the Agro space, this will not just push bread up but also corn as an alternative will be affected. Second is the ban on foreigners and any of their affiliates from direct farm purchases. This may look positive in theory but with this market comes a lot of incentive for farme...
Post a Comment
Read more

MOST CONSUMED TUBER IN NIGERIA

There are about 600 species of yams found around the world, most of them in the tropics. Some species of yam are cultivated for their edible tubers, for medicinal use, and for other uses. Yams remain an important food crop, especially in Africa, and some varieties can be stored for months without refrigeration. In addition to addressing the physical needs of people—offering such nutrition as carbohydrates, protein, phosphorus, and potassium—yams also touch upon the human inner nature, bringing pleasure through their enjoyable taste and texture, and being central to various ceremonies related to their importance in traditional society of Africa Today, West Africa produces over 90 percent of the world's yam crop, with Nigeria the largest grower. (CGAIR 2006) Yams are widespread in the humid tropics throughout the world and in a wide variety of species. Of - White Guinea yam: The white yam originates in West Africa, however, without a wild variety being known of it is the most import...
Post a Comment
Read more