The Poultry Association of Nigeria (PAN) has revealed another increase in egg prices, blaming low production and high feed costs.
Mojeed Iyiola, the PAN Lagos state Chairman, said that the rise egg prices is also due to scarcity.
The Nation reports that Iyiola cited the cost of maize, which is used to feed the chickens, as a major reason for the hike in fuel prices.
He said:
A crate of eggs now sells between N3,800 and N4,000 from the farm gate and above N4,500 in retail shops and markets against N3,200 to N3,500 it was sold in May.
Despite the increase, Iyiola said it is not enough for farmers to recover their investments.
Iyiola added:
He warned that if the current situation continues unchecked, the sector may collapse entirely
Theresa Muyi, a poultry farmer in Alimosho, agreed with the PAN chairman, suggesting a further increase could be.
She said:
In related news, TimesNow.com.ng had reported that some formerly cheap food items are no longer affordable to average Nigerian homes.
According to a market survey undertaken by TimesNow.com.ng, food product prices have doubled in recent months.
The continuous rise in the costs of these staple foods, alongside other commodities, has reduced the buying capacity of Nigerians, as many find it challenging to meet their daily dietary needs.
Source: TimesNow.com.ng
