The Hidden Danger Of Falling Food Prices In Nigeria - Food (3)

The Hidden Danger Of Falling Food Prices In Nigeria - Food (3) - Nairaland

Nairaland Forum › Nairaland General › Food › The Hidden Danger Of Falling Food Prices In Nigeria (25169 Views)

Re: The Hidden Danger Of Falling Food Prices In Nigeria by runningriot: 6:43pm On Jan 23

Equilibrium is the best economy situation that favours the pillars of market forces but the whole widespread conspiracy by enemies of redemption is what is sending chills to my spine. Apparently, it obvious some people are allergic to goodnews yes! and these same people when there was high prices of food they were busy aggressively protesting and agitating for the food prices to come down now that is down the enemies of progress can't channel their energies to appraise the government. Interestingly, even if the prices of goods goes up the farmers will not be the beneficiaries because of the hoarders who are the rich and the wealthy people in the society. Painfully, the poor and the farmers will still go to buy the food from their buyers in an expensive amount...

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Re: The Hidden Danger Of Falling Food Prices In Nigeria by PDPdestroyer(m): 6:44pm On Jan 23

So we have agreed that prices are actually falling in real life and not audio like disObidients usually say. The truth will always catch up, na time e go take grin

4 Likes

Re: The Hidden Danger Of Falling Food Prices In Nigeria by BlakKluKluxKlan(m): 6:44pm On Jan 23

I find write-ups like this very disturbing and nauseating.
What could be behind articles like this but mischief ?

The hue and cry in the society is high cost of foodstuffs

Now that the govt reforms begin to yield the expected positive results, we resort to false narratives of fictitious dangers accompanying fall in prices.

In simple economics, product prices are determined by the market forces of supply and demand.
To start with, farmers enjoy subsidised tools of their trade from the govt whilst consumers are generally left on their own

No farmer is, or can be forced to sell at a price inimical to his benefits
So, it goes without saying that if consumers are smiling home from the markets, farmers must also be smiling.

Although it may be argued that farmers are being forced to sell at prices cheaper than the cost of production to avoid loss by perished products due to lack of storage facilities. But this absence of storage facilities is not new but has always been the case from time immemorial

Overall, there is no need raising alarms where and when it is unnecessary

6 Likes

Re: The Hidden Danger Of Falling Food Prices In Nigeria by Nicoddemus(m): 6:44pm On Jan 23

TechToyin:
Many people are happy that food prices are coming down. On the surface, it looks like good news. But there is a serious danger most people are not talking about.

Cheaper food is good for consumers, but not always good for farmers
While buyers enjoy relief, many farmers are selling at a loss.

Cost of farming is still very high
Fertilizer, diesel, transport, labour, and insecurity are still expensive. Prices fell, costs did not.

Farmers are losing capital
Most Nigerian farmers use money from the last harvest to fund the next season. Losses now mean no money later.

Many farmers may not plant next season
When farmers cannot afford seeds, fertilizer, or labour, they reduce production or quit entirely.

This leads to future food shortages
Less planting today means less food tomorrow, which will push prices up again.

Nigeria has no strong price support system
There are no effective minimum price guarantees or working buffer stock programs to protect farmers.

Poor storage forces distress sales
Because farmers can’t store food, they rush to sell during harvest when prices are lowest.

Middlemen and traders also suffer losses
Oversupply and weak demand affect the entire value chain, not just farmers.

Price instability scares investors away
Serious investors avoid agriculture when prices swing wildly from profit to loss.

Low prices today can mean hunger tomorrow
If farmers collapse, Nigeria will depend more on imports and face worse food inflation later.

Bottom line:
The problem is not high prices or low prices. The real problem is unstable prices.
If Nigeria does not protect farmers now, today’s cheap food will become tomorrow’s food crisis.

Enemy of progress. Enemy of the masses tufia!!!

5 Likes

Re: The Hidden Danger Of Falling Food Prices In Nigeria by NairaMaster1(m): 6:47pm On Jan 23

TechToyin:
Many people are happy that food prices are coming down. On the surface, it looks like good news. But there is a serious danger most people are not talking about.

Cheaper food is good for consumers, but not always good for farmers
While buyers enjoy relief, many farmers are selling at a loss.

Cost of farming is still very high
Fertilizer, diesel, transport, labour, and insecurity are still expensive. Prices fell, costs did not.

Farmers are losing capital
Most Nigerian farmers use money from the last harvest to fund the next season. Losses now mean no money later.

Many farmers may not plant next season
When farmers cannot afford seeds, fertilizer, or labour, they reduce production or quit entirely.

This leads to future food shortages
Less planting today means less food tomorrow, which will push prices up again.

Nigeria has no strong price support system
There are no effective minimum price guarantees or working buffer stock programs to protect farmers.

Poor storage forces distress sales
Because farmers can’t store food, they rush to sell during harvest when prices are lowest.

Middlemen and traders also suffer losses
Oversupply and weak demand affect the entire value chain, not just farmers.

Price instability scares investors away
Serious investors avoid agriculture when prices swing wildly from profit to loss.

Low prices today can mean hunger tomorrow
If farmers collapse, Nigeria will depend more on imports and face worse food inflation later.

Bottom line:
The problem is not high prices or low prices. The real problem is unstable prices.
If Nigeria does not protect farmers now, today’s cheap food will become tomorrow’s food crisis.

You're very correct. Danger of a vicious circle looming.

1 Like

Re: The Hidden Danger Of Falling Food Prices In Nigeria by CodeTemplarr: 6:47pm On Jan 23*

While you have a valid point about low prices discouraging production due to losses, thats what a central body is meant for. To spot the patterns early enough and double up on effort targetted at closing those gaps.

3 Likes

Re: The Hidden Danger Of Falling Food Prices In Nigeria by gigabyte13: 6:50pm On Jan 23

Shey no be say una dey mad for this nairaland sha....
Food cost una dey cry
Food come down una still dey cry
Na real signs of madness be this.......
Abi weertin person go call this one
Una dey madttttttt

3 Likes

Re: The Hidden Danger Of Falling Food Prices In Nigeria by UnknownQueen(f): 6:50pm On Jan 23

lawani:
Do you know what it means for garri to fall from 1200 to 400 to 500?. It is not easy for the farmers o. Government can also help by finding more use for cassava as this will increase the demand and keep up the price

Abeg oo where do you buy garri #500, I'll like to know

Re: The Hidden Danger Of Falling Food Prices In Nigeria by AfonjaPriest: 6:52pm On Jan 23

That prices of foodstuffs are falling down shouldn't be a cause to jubilate.
Tinubu destroyed the economy, created severe spike in prices of foodstuffs and folded his arms while insecurity flourishes.
Being a failure, he has no balls to return the food prices to where they were before he snatched the driver's seat with incompetence and drove the country into a chasm with his cluelessness.

3 Likes

Re: The Hidden Danger Of Falling Food Prices In Nigeria by zelnababa(m): 6:53pm On Jan 23

Flangelo12:
People dey vex say food price dey reduce again?

The most difficult things GOD created is Human being, especially AFRICANS, especially Nigerians. we no even know waiting we want self

4 Likes

Re: The Hidden Danger Of Falling Food Prices In Nigeria by lawani(m): 6:54pm On Jan 23

UnknownQueen:
Abeg oo where do you buy garri #500, I'll like to know

One kg of garri in Osun is 500 or less. A kg is ten milk tins

2 Likes

Re: The Hidden Danger Of Falling Food Prices In Nigeria by JuanDeDios: 6:55pm On Jan 23

TechToyin:
Many people are happy that food prices are coming down. On the surface, it looks like good news. But there is a serious danger most people are not talking about.

Cheaper food is good for consumers, but not always good for farmers
While buyers enjoy relief, many farmers are selling at a loss.

Cost of farming is still very high
Fertilizer, diesel, transport, labour, and insecurity are still expensive. Prices fell, costs did not.

Farmers are losing capital
Most Nigerian farmers use money from the last harvest to fund the next season. Losses now mean no money later.

Many farmers may not plant next season
When farmers cannot afford seeds, fertilizer, or labour, they reduce production or quit entirely.

This leads to future food shortages
Less planting today means less food tomorrow, which will push prices up again.

Nigeria has no strong price support system
There are no effective minimum price guarantees or working buffer stock programs to protect farmers.

Poor storage forces distress sales
Because farmers can’t store food, they rush to sell during harvest when prices are lowest.

Middlemen and traders also suffer losses
Oversupply and weak demand affect the entire value chain, not just farmers.

Price instability scares investors away
Serious investors avoid agriculture when prices swing wildly from profit to loss.

Low prices today can mean hunger tomorrow
If farmers collapse, Nigeria will depend more on imports and face worse food inflation later.

Bottom line:
The problem is not high prices or low prices. The real problem is unstable prices.
If Nigeria does not protect farmers now, today’s cheap food will become tomorrow’s food crisis.

1 Like

Re: The Hidden Danger Of Falling Food Prices In Nigeria by zelnababa(m): 6:55pm On Jan 23

AfonjaPriest:
That prices of foodstuffs are falling down shouldn't be a cause to jubilate.
Tinubu destroyed the economy, created severe spike in prices of foodstuffs and folded his arms while insecurity flourishes.
Being a failure, he has no balls to return the food prices to where they were before he snatched the driver's seat with incompetence and drove the country into a chasm with his cluelessness.

nobody asks you to jubilate, just go to the market and continue buying at high rate.

3 Likes

Re: The Hidden Danger Of Falling Food Prices In Nigeria by COUSIN1279(m): 6:55pm On Jan 23

God punish the hidden danger 🙏

1 Like

Re: The Hidden Danger Of Falling Food Prices In Nigeria by Olabest911: 7:00pm On Jan 23

Are you cursed with evil news.

Falling price still get evil agenda?

If this is what opposition is about, I will rar vote APC because it's obvious ju

5 Likes

Re: The Hidden Danger Of Falling Food Prices In Nigeria by bluestone2015: 7:00pm On Jan 23

You wouldn't say this if you are a farmer and understand the high cost of farming.

zoghys:
You made some point but I don't agree with you completely. The market is regulating itself, hence the policies by this government. I expect a forward decrease in prices of market produce especially with the importation of certain stable food to regulate the market. Some farmers are greedy, and they will pay the price.

1 Like

Re: The Hidden Danger Of Falling Food Prices In Nigeria by Advancedman(m): 7:00pm On Jan 23

[quote author=Flangelo12 post=138234683]People dey vex say food price dey reduce again?

I never see any reduction.

Re: The Hidden Danger Of Falling Food Prices In Nigeria by Olabest911: 7:03pm On Jan 23

Are you cursed with evil news.

Falling price still get evil agenda?

If this is what you believe opposition it all about, It will take ages to unseat APC

2 Likes

Re: The Hidden Danger Of Falling Food Prices In Nigeria by Arcmor(m): 7:04pm On Jan 23

You are very ignorant and I'm sure you have never held a hoe or Cutlass in your life to know what goes into crop production. Cost of crop production didn't come down and the cost of food is coming down!. You are happy that the farmers should be eating the losses! I am a cassava farmer and I had to abandon a 20 acre cassava farm simply because the cost of weeding, harvesting and processing into garri is more expensive than the selling price of garri in the market. I had to sack all my workers as well.

Yes, because many people are now planting plantain and cassava in Southern Nigeria, and the climate and weather conditions have been favourable to agriculture throughout the last year.

When there are improved seedlings and a favourable climate, we have bountiful harvests with the same input at no extra cost.[/quote]

1 Like

Re: The Hidden Danger Of Falling Food Prices In Nigeria by Love800(m): 7:06pm On Jan 23

Apart from potatoes, do you plant yam too?

inoki247:
You people are ment when the Food price go up tears everywhere food still dey partially down una still dey cry....

I be farmer I don take my L in peace...

So far what I'm earning from my produce can get me other produce I'm buying I'm good....

I don't even plant Cassava but due to how Garri was going up I risked and try Cassava 2024 cashout I saw the sign and didn't even try it in 2025..

Make everybody take there L in peace we sold sweet potato a bag 30k 2024 na 5k per bag from September last year to December....

1 Like

Re: The Hidden Danger Of Falling Food Prices In Nigeria by bigiyaro(m): 7:09pm On Jan 23

The farmers can go to hell, they should start another business if farming is not lucrative for them. I remember Nigerian greedy farmers selling rice for 110k when buhari gave them the smallest chance.

2 Likes

Re: The Hidden Danger Of Falling Food Prices In Nigeria by inoki247: 7:10pm On Jan 23

Love800:
Apart from potatoes, do you plant yam too?

I didn't go near it...

Potatoes na fast money within 3 month harvest don show at least twice a year person fit run am.

Buh Yam na 1yr journey....

I don't even plant Cassava but when I saw the price of Garri I took the risk ASAP and ran away after selling the first year and see Alot of people running into it...

1 Like

Re: The Hidden Danger Of Falling Food Prices In Nigeria by dequir: 7:12pm On Jan 23

anonimi:
Ensure that prices don’t go up again when the impact of unsustainable import waivers expire, and farmers have moved on to more profitable activities, including politics.

The irredeemable pessimist on duty again.

Never see anything good in his country, people or government, as long as it is not PDP initiated.

Every public action must be condemned, whether good or bad, with no alternate solution proffered.

2 Likes

Re: The Hidden Danger Of Falling Food Prices In Nigeria by Nobody: 7:13pm On Jan 23

TechToyin:
Many people are happy that food prices are coming down. On the surface, it looks like good news. But there is a serious danger most people are not talking about.

Cheaper food is good for consumers, but not always good for farmers
While buyers enjoy relief, many farmers are selling at a loss.

Cost of farming is still very high
Fertilizer, diesel, transport, labour, and insecurity are still expensive. Prices fell, costs did not.

Farmers are losing capital
Most Nigerian farmers use money from the last harvest to fund the next season. Losses now mean no money later.

Many farmers may not plant next season
When farmers cannot afford seeds, fertilizer, or labour, they reduce production or quit entirely.

This leads to future food shortages
Less planting today means less food tomorrow, which will push prices up again.

Nigeria has no strong price support system
There are no effective minimum price guarantees or working buffer stock programs to protect farmers.

Poor storage forces distress sales
Because farmers can’t store food, they rush to sell during harvest when prices are lowest.

Middlemen and traders also suffer losses
Oversupply and weak demand affect the entire value chain, not just farmers.

Price instability scares investors away
Serious investors avoid agriculture when prices swing wildly from profit to loss.

Low prices today can mean hunger tomorrow
If farmers collapse, Nigeria will depend more on imports and face worse food inflation later.

Bottom line:
The problem is not high prices or low prices. The real problem is unstable prices.
If Nigeria does not protect farmers now, today’s cheap food will become tomorrow’s food crisis.

Your write-up isn't completely comprehensive.
You refused to state why foods are becoming cheap inthe first place.

How does it affect farmer? Aren't they the one selling it cheap? Why are they selling cheap if they're not gaining?

1 Like

Re: The Hidden Danger Of Falling Food Prices In Nigeria by Wickedtruths: 7:14pm On Jan 23

lawani:
Do you know what it means for garri to fall from 1200 to 400 to 500?. It is not easy for the farmers o. Government can also help by finding more use for cassava as this will increase the demand and keep up the price

When garri was 1,200, did farmers share the money they were making?

2 Likes

Re: The Hidden Danger Of Falling Food Prices In Nigeria by Chegesnd: 7:15pm On Jan 23

Predictor3:
So should we continue to have high prices? As it stands, prices are still quite high. But you have some good points. Who helps with storage facilities? This shouldn't be the job of the government but private sector. The farmers should be able to approach banks either individually or as groups and raise funds for such.

Or big corporations should go into agro industry too. And if the government is to be involved then that should be the state and local governments.
But cheap food is actually good for a poor country like Nigeria

You mean Private Investors should go into an unstable and unpredictable sector?
From what the Author said, govt. has a hand in controlling Food prices and protecting Farmers.
Govt. can never take it's hand away from such a critical sector.
Remember what Ronald Reagan - a Capitalist President said, 'if it doesn't work, subsidize it. If it works, tax it. If continues to work, regulate it.
We need a strong policy frame work in the Food Sector, to protect Consumers and Farmers, even to re-energize the Agro Industrial Raw Materials.

1 Like

Re: The Hidden Danger Of Falling Food Prices In Nigeria by soojar(m): 7:16pm On Jan 23

TechToyin:
Many people are happy that food prices are coming down. On the surface, it looks like good news. But there is a serious danger most people are not talking about.

Cheaper food is good for consumers, but not always good for farmers
While buyers enjoy relief, many farmers are selling at a loss.

Cost of farming is still very high
Fertilizer, diesel, transport, labour, and insecurity are still expensive. Prices fell, costs did not.

Farmers are losing capital
Most Nigerian farmers use money from the last harvest to fund the next season. Losses now mean no money later.

Many farmers may not plant next season
When farmers cannot afford seeds, fertilizer, or labour, they reduce production or quit entirely.

This leads to future food shortages
Less planting today means less food tomorrow, which will push prices up again.

Nigeria has no strong price support system
There are no effective minimum price guarantees or working buffer stock programs to protect farmers.

Poor storage forces distress sales
Because farmers can’t store food, they rush to sell during harvest when prices are lowest.

Middlemen and traders also suffer losses
Oversupply and weak demand affect the entire value chain, not just farmers.

Price instability scares investors away
Serious investors avoid agriculture when prices swing wildly from profit to loss.

Low prices today can mean hunger tomorrow
If farmers collapse, Nigeria will depend more on imports and face worse food inflation later.

Bottom line:
The problem is not high prices or low prices. The real problem is unstable prices.
If Nigeria does not protect farmers now, today’s cheap food will become tomorrow’s food crisis.

In summary food prices should remain high? Because we want to satisfy farmers?

On a serious note, you are partially right but wrong in most parts. I have come to realize that Nigeria is a peculiar country, the Macroeconomic maneuvers that work in other economies won't work in Nigeria. These same farmers have been subsidized for years, the border was closed for years against rice importation, subsided fertilizers, even free in some local governments, access to huge loans from government, etc, but what did we get at the end of the day? increase in production of local rice but now selling more than foreign ones when you are not procuring anything in dollars to warrant that.

The same people that are coming with different analysis today why lower prices is not good for the economy were the same shouting on rooftops just a few months back that the government is killing us with high prices. If the government tries to initiate a long term food sufficiency plan (which of course will mean high prices in the short term) the same people will say the country is finished.

Bottom line, you can't satisfy those that cannot be satisfied as the reason for the analysis of most of them is not the desire for the economy to be better but just political. As a government, give farmers some form of protection (not absolute) subsidize whatever they need to purchase in dollars, leave them to sort themselves out on other Naira purchases and come in once in a while for intervention either by increasing tariff on importation of certain food items temporarily to reduce its importation or lowering the tariff temporarily to bring in more of such goods to counter the excesses of our local farmers.

We learn every day

1 Like

Re: The Hidden Danger Of Falling Food Prices In Nigeria by JagaLove: 7:27pm On Jan 23

Rubbish write up. For this country wey we dey farmers go sell at a loss? Dey play. I don't believe this cock and bull story. It's a sponsored attempt by an opposition party to cause unbelief among the people and still discredit the current administration. If food prices are getting cheaper, I believe reforms are working. There was even a prophecy to that effect by primate Ayodele himself. According to the prophecy, food will be cheap and available but cash will be scarce which is playing before our very eyes.

Re: The Hidden Danger Of Falling Food Prices In Nigeria by Lincton: 7:31pm On Jan 23

Are you saying that we should continue to buy at exorbitant price?
There are factors that are responsible for fall in price:
The most important of all is when supply is higher than demand.
For example there are some commodities that were produced at large quantities by different people in the country.
So price is bound to fall.

Re: The Hidden Danger Of Falling Food Prices In Nigeria by fitinwell: 7:32pm On Jan 23

TechToyin:
Many people are happy that food prices are coming down. On the surface, it looks like good news. But there is a serious danger most people are not talking about.

Cheaper food is good for consumers, but not always good for farmers
While buyers enjoy relief, many farmers are selling at a loss.

Cost of farming is still very high
Fertilizer, diesel, transport, labour, and insecurity are still expensive. Prices fell, costs did not.

Farmers are losing capital
Most Nigerian farmers use money from the last harvest to fund the next season. Losses now mean no money later.

Many farmers may not plant next season
When farmers cannot afford seeds, fertilizer, or labour, they reduce production or quit entirely.

This leads to future food shortages
Less planting today means less food tomorrow, which will push prices up again.

Nigeria has no strong price support system
There are no effective minimum price guarantees or working buffer stock programs to protect farmers.

Poor storage forces distress sales
Because farmers can’t store food, they rush to sell during harvest when prices are lowest.

Middlemen and traders also suffer losses
Oversupply and weak demand affect the entire value chain, not just farmers.

Price instability scares investors away
Serious investors avoid agriculture when prices swing wildly from profit to loss.

Low prices today can mean hunger tomorrow
If farmers collapse, Nigeria will depend more on imports and face worse food inflation later.

Bottom line:
The problem is not high prices or low prices. The real problem is unstable prices.
If Nigeria does not protect farmers now, today’s cheap food will become tomorrow’s food crisis.

That's not correct .., Government gave farmers financial buffer.. to sustain there farming business.

Re: The Hidden Danger Of Falling Food Prices In Nigeria by Chucks13: 7:33pm On Jan 23

NIgerians are you people alright? What kind of madness is this? Una complained food too cost now food price drops yet you people still called it dangerous pls which kind curse be dis, na who cursed dis country?

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