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Nigerians To Pay More For Bread As Russia-Ukraine War Rages - Food - Nairaland

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Nigerians To Pay More For Bread As Russia-Ukraine War Rages by BeeBeeOoh(m): 5:56am On Feb 28, 2022
The price of bread, one of the most commonly eaten staples in most Nigerian homes is set to rise if the current Russian-Ukrainian war persists.

Russia is the world’s largest exporter of wheat, accounting for more than 18 per cent of international exports.

The downside to the war is that if supply from Russia is distorted for whatever reason, Nigeria could be faced with further surging wheat prices in its local market as a result of the supply gap, which could lead to an increase in the price of some other by-products of wheat, such as bread, wheat meal amongst others.

The price of bread was increased by more than 80 per cent between 2020 and 2021.

In 2020, the Association of Master Bakers and Caterers of Nigeria (AMBCN) had hinted at a 50 per cent increase in the price of bread citing the surging cost of raw materials and COVID-19 impact.

According to the Central Bank of Nigeria (CBN), wheat is the third most widely consumed grain in the country, with its local production only accounting for just 1% of the 5 to 6 million metric tons consumed annually, with the country relying on importation to meet local demands.

The demand-supply gap has necessitated the spending of over $2 billion on wheat importation annually, representing the second-highest contributor to the country’s food import bill.

A cursory glance at the foreign trade report from the National Bureau of Statistics (NBS), Nigeria imported goods valued at N813.19 billion (over $2bn annually) between January and September 2021, representing 3.7% of Nigeria’s total import in the same period.

A further look at the data shows that Nigeria imported durum wheat worth over N128.1 billion in the 9-month period of 2021, while it recorded a N144.14 billion durum wheat import in the previous year.

Also, Nigeria imports different types of seafood from Russia, some of which include mackerel, meat, herrings, blue whiting, other fish, all in frozen form.

It is also worth noting that Nigeria imported vaccines for human medicine from Russia in Q4 2020.

In 2019, Russia and Ukraine together exported more than a quarter (25.4 per cent) of the world’s wheat, according to the Observatory of Economic Complexity (OEC).

In the event of outright aggression, the flow of wheat and grain could be disrupted. Economic sanctions or military action could have a significant effect on the cost of food as importers seek to find alternatives.

Ukraine is the fifth largest exporter of wheat, accounting for seven per cent of sales globally in 2019.

Speaking exclusively with Daily Trust, the president of AMBCN said the current situation will definitely lead to an increase in the prices of flour.

He said: “Flour millers are happy to hear of things like this because they will capitalise on it to increase prices by hoarding the product to induce artificial scarcity.

“We are in trouble. I wish we were ready with the cassava flour at least, we can substitute with up to 10 per cent and that will save this country billions of naira.

“As we speak, a major distributor of one of the brands has announced a N100 increase from Monday.”

https://dailytrust.com/nigerians-to-pay-more-for-bread-as-russian-ukraine-war-rages

6 Likes 3 Shares

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by helinues: 5:57am On Feb 28, 2022
Both Ukraine and Russia are largest exporters of Grains and Wheat

This sweet go reach every one grin

73 Likes 6 Shares

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by benuejosh: 6:01am On Feb 28, 2022
If there's no wheat then we have an alternative. We can use Cassava. It will also boost our local production. Our local farmers from the North will make more money.

119 Likes 8 Shares

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by Aufbauh(m): 6:07am On Feb 28, 2022
There's always a price to pay for every warfare most especially the needless ones.

11 Likes 1 Share

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by Nobody: 6:18am On Feb 28, 2022
Russia has it's own cards to play... No nation would see a Russian oil of $50 and pick OPEC of $120 when it's not their fight, same goes for wheat according to the article and other products it majors in.

30 Likes 3 Shares

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by ivolt: 6:22am On Feb 28, 2022
Borno would have been able to replace Russia's wheats if not for Boko haram.

89 Likes 4 Shares

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by Nobody: 6:23am On Feb 28, 2022
benuejosh:
If there's no wheat then we have an alternative. We can use Cassava. It will also boost our local production. Our local farmers from the North will make more money.

Yes.. same way you block your borders on rice to grow in house, but saw the cost of rice rise by 300%..

164 Likes 13 Shares

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by ivolt: 6:23am On Feb 28, 2022
Esseite:
Russia has it's own cards to play... No nation would see a Russian oil of $50 and pick OPEC of $200 when it's not their fight, same goes for wheat according to the article and other products it majors in.
The real concern is how do you pay for such an item and
are you prepared to destroy your country's economy just to eat cheap bread?

The only country that has been able to partially work with sanctioned regime is
China. Even China is cautious in his dealings with such regime.

24 Likes 4 Shares

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by Nobody: 6:24am On Feb 28, 2022
benuejosh:
If there's no wheat then we have an alternative. We can use Cassava. It will also boost our local production. Our local farmers from the North will make more money.

Yeah.. same way you block your borders on rice to grow in house, but saw the cost of rice rise by 300%..

12 Likes 2 Shares

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by Totilopussylick(m): 6:24am On Feb 28, 2022
Don't forget man shall not leave by bread alone undecided

13 Likes 2 Shares

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by TOPCRUISE(m): 6:26am On Feb 28, 2022
What an excuse to increase bread prices.

22 Likes 1 Share

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by naija4life247: 6:26am On Feb 28, 2022
What about water and air? We should be paying more for that too until Ogun, Sango, Obatala, Aiyelala and Esu Odara strike the useless rulers we have

7 Likes

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by maticar: 6:27am On Feb 28, 2022
Lol

Even though they have been increasing it before this war

Blame it on the war and increase again

31 Likes 1 Share

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by Blaine756(m): 6:27am On Feb 28, 2022
Do you have the technical know how to do so.

benuejosh:
If there's no wheat then we have an alternative. We can use Cassava. It will also boost our local production. Our local farmers from the North will make more money.
Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by Harrykn: 6:27am On Feb 28, 2022
So because of putin bread go add price after all the Agricultural investors we have here in Nairaland and Nigeria?
After all the Agro-project up and down this big country we still dey import wheat and other bread orishirishi ?
You people must be joking, I sabi when Buhari dey joke.

7 Likes 2 Shares

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by maticar: 6:27am On Feb 28, 2022
naija4life247:
What about water and air
Na there God pass them

But if the had their way, we would buy free air

1 Like 1 Share

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by freshkpomo(m): 6:27am On Feb 28, 2022
I told zomenzombies here that this war will affect us more,the mumu terrorists head slammers were shouting America burn, Israel burn,Ukraine burn hahahahah cheesy cheesy.. una Almajiri population go soon increase.. same way many of them supported Boko Haram in the early days and attacked Jonathan for fighting them, but today who is crying?

That's why I don't pity these people because they enjoy evil and when the evil kills them it's their own business... For you info if this war explodes,northern Nigeria will be worse than Afghanistan and Iswap will take over...

Our man power trekkers and Agbo committee should meet with their other trekking Herdsmen counterpart up north and stage a protest in Abuja as usual against Israel... cry

12 Likes 1 Share

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by Earlystar698(m): 6:28am On Feb 28, 2022
Bread 500 wey no dey belle full person na em dey wan cut again

29 Likes 1 Share

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by Burgerlomo: 6:28am On Feb 28, 2022
Apart from pencil, what else can Naija produce because ayam not understanding grin
Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by TheWolfen(m): 6:29am On Feb 28, 2022

The price of bread, one of the most commonly eaten staples in most Nigerian homes is set to rise if the current Russian-Ukrainian war persists.

Hmm
Everybody go feel this heat las las including the western nations

Biko abeg we want peace

1 Like

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by Nobody: 6:29am On Feb 28, 2022
ivolt:

The real question is how do you pay for such an item and
are you prepared to destroy your country's economy just to eat cheap bread?

The only country that has been able to partially work with sanctioned regime is
China. Even China is cautious in his dealings with such regime.

Is it your fight?... does the inflation of wheat and oil alongside other products not destroy your country's economy aswell?.. why put your people to suffer alongside depreciated currency for what is not your business?

1 Like 1 Share

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by GIANTPLUSHUB: 6:29am On Feb 28, 2022
Okay
Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by AfroKnight: 6:30am On Feb 28, 2022
This bakers association is just an association of opportunists.

7 Likes 1 Share

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by derecho(m): 6:31am On Feb 28, 2022
And risk being sanctioned too? E no easy like that o
Esseite:
Russia has it's own cards to play... No nation would see a Russian oil of $50 and pick OPEC of $200 when it's not their fight, same goes for wheat according to the article and other products it majors in.

2 Likes

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by benuejosh: 6:31am On Feb 28, 2022
Blaine756:
Do you have the technical know how to do so.

Was cassava bread not produced during the era of Presidential Jonathan?

3 Likes

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by Cutehector(m): 6:31am On Feb 28, 2022
TOPCRUISE:
What an excuse to increase bread prices.
as in eh. A very lame excuse.

4 Likes 1 Share

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by gambojimeta: 6:33am On Feb 28, 2022
Enjoy while it last.

Ukraine and Russia accounts for almost 1/3 of global wheat export.

Russia 18%
Ukraine 12%.

That's 30% likely to be wiped off.
Russia : Sanctions
Ukraine: Invasion and Occupation

Other countries producing wheat and flour will jack up their price due to short supply but constant demand.

Kikikikikikiki

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by Nobody: 6:33am On Feb 28, 2022
What is Nigeria good for, so we cannot grow ANYTHING?

1 Like

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by CryptoTeacher(m): 6:34am On Feb 28, 2022
Issues
Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by Jayphoenix45(m): 6:34am On Feb 28, 2022
So the greedy middle men are at it again..without issues in Russia, price of bread was increased now they want to use this to their wicked advantage...the way price of everything is skyrocketing, it will take grace for some families to feed!!! Did the price of water increase anywhere that even road side manufacturers of "pure" water also increased the price of one bag from 200 per bag to 350?? The government can't be blamed for everything but i blame them for not having stern rules against the hike of prices of goods and commodities..imagine we hoping on russia so we can eat bread....na wa o

8 Likes

Re: Nigerians To Pay More For Bread As Russia-Ukraine War Rages by Nobody: 6:34am On Feb 28, 2022
derecho:
And risk being sanctioned too? E no easy like that o

The resources wasted in purchase at exorbitant prices would cripple your nation, so are you ready to pick a war that is not yours or remain neutral while doing your trade? Moreover you are aware that the nations that deprive you trade with sacre of sanctions have 10times better economy with much less poverty.

1 Like

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