Russia-Ukraine War: Wheat Prices Rise In Nigeria
(Photo:credit) Businessday.ng
Wheat harvesting season in Kano state has been speculated towards the middle of March 2022. However, the latest analyses disclosed that the cost of wheat in the market has been rising by the day and the grain is also becoming rare in most of the markets.
Daily Trust reports that state chairman of Wheat Farmers Association of Nigeria (WFAN), Alhaji Shehu Musa, said the rise in the price being presently encountered is associated to the dispute between Russia and Ukraine.
According to him, wheat merchants are all out to mop-up the available grains in the market and as such the price of wheat keeps surging.
He clarified that though wheat harvesting has not begun yet, it is obvious that boost in wheat price is unavoidable.
Furthermore, a wheat grain dealer at Dawanau International Grain Market, Malam Usman Dauda, disclosed that lately the grain is coming to be scarce in the market as its demand has heightened remarkably.
He said a 100kg bag of wheat is now negotiated between N37, 400 and N39, 000. He also divulged that many wheat users engage in panic buying because they heard that countries producing wheat are in conflict and that will affect the nation’s wheat importation and by extension products made from wheat.
Nexus News learnt that Kano State, being one of the major wheat producing states in Nigeria, did not cultivate wheat as it used to due to Tiga dam closure which compelled many wheat farmers away from their farm lands.
It was also disclosed that the dam closure will implicate the state’s annual wheat production as well as the farmers per capita income.
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