Farmers struggle with rising inputs cost
High costs of fertilizer, seeds, herbicides, and pesticides are pushing farmers in Africa’s most populous country to the brink, forcing many to now reduce their cultivation areas.
The sector is seeing profits harmed by rise in major inputs with insecurity and climate change making it even harder for many farmers to make profit, thus casting a cloud over future investment.
Prices of NPK – a fertilizer blend mostly used by smallholder farmers have jumped 250 percent since 2022 when Russia invaded Ukraine.
The prices of pesticides and herbicides have increased by 70 percent since last year. Seed and seedling prices have also doubled.
Similarly, energy prices have surged also, affecting the cost of running farm equipment and transporting food products from the farms to markets.
Fuel price has soared by an average of 174.6 percent in two weeks to N526.7 per litre from an average of N191.8 per litre, according to BusinessDay’s calculation of NNPC’s new/old price list.
Diesel price has soared by almost 178 percent in one year to N800 per litre from N288 in January this year.
“Prices of fertilizers and other inputs such as herbicides, and pesticides have almost tripled and this will lead to further increase in food prices,” said Ibrahim Kabiru, national president of the All Farmers Association of Nigeria (AFAN).
Kabiru said skyrocketing prices of inputs could discourage many farmers from going to the farms. He urged the government to ensure that farmers’ productivity is higher and food is readily available to address the escalating food prices in the country.
Inflation in Africa’s most populous country accelerated to 22.22 percent in April, the highest since October 2005. Also, food inflation accelerated to 24.61 in April, according to data from Nigeria’s Bureau of Statistics.
The worsening state of insecurity in the country has continued to deter agric investments in key crop-growing states while putting existing agribusinesses in constant peril.
“We cannot attain food security when there is insecurity. Farmers should be able to carry out their farming activities without any form of fear and not having to pay bandits to harvest,” Abiodun Olorundenro, manager, AquaShoots Limited said in a telephone response to questions.
“The insecurity situation has forced many farmers to abandon their farmlands and this is impacting our national output. Also, it has created a shortfall that is leading to a surge in food prices,” he said.
Also, changing climate patterns are negatively impacting farmers’ productivity, leading to a low output that cannot meet the demand of 200 million people, thus resulting in demand overshooting supply
8 Comments to “ Farmers struggle with rising inputs cost”
You must be logged in to post a comment.
I’ve been absent for a while, but now I remember why I used to love this web site. Thank you, I will try and check back more frequently. How frequently you update your website?
Thank you for sharing excellent informations. Your site is so cool. I am impressed by the details that you’ve on this website. It reveals how nicely you understand this subject. Bookmarked this website page, will come back for extra articles. You, my pal, ROCK! I found just the info I already searched everywhere and just could not come across. What a perfect web site.
Hi, i read your blog occasionally and i own a similar one and i was just curious if you get a lot of spam comments? If so how do you reduce it, any plugin or anything you can recommend? I get so much lately it’s driving me crazy so any support is very much appreciated.
I love the efforts you have put in this, regards for all the great articles.
Simply a smiling visitant here to share the love (:, btw outstanding pattern. “Justice is always violent to the party offending, for every man is innocent in his own eyes.” by Daniel Defoe.
hi!,I like your writing so much! share we communicate more about your article on AOL? I need a specialist on this area to solve my problem. Maybe that’s you! Looking forward to see you.
I do not even know the way I finished up here, however I thought this put up used to be great. I do not recognise who you are however certainly you’re going to a well-known blogger in case you are not already 😉 Cheers!
Hi there, I discoveredd ypur blog by waay oof Gokgle aat the same
timme as looking forr a comparable subject, your website
gott here up, it seejs too be good. I hazve bookmarkeed
itt in mmy gopgle bookmarks.
Helolo there, simoly waas alert too youyr weblog thru
Google, aand found tjat itt is truly informative. I amm gonna bbe careful for brussels.
I’ll be grqteful for thhose who pdoceed his inn future.
Maany other folks wil likewly bbe benefiited out off your writing.
Cheers!