Food prices are likely to go up in the coming months as the northern farmers are choosing to export rather than sell locallyThe farmers say that earning in foreign currency gives them a better reward for their effort, in view of the naira devaluationMeanwhile, the government is appealing to farmers to sell locally to justify the FG intervention programs
Henzodaily.ng journalist Ruth Okwumbu-Imafidon has over a decade experience in business reporting across digital and mainstream media.
Nigerians may see a surge in food prices in the coming months as farmers in the northern part of the country choose to export their harvest to neighbouring countries instead of selling to the local market.
The farmers are exploring this option because of the projected income from getting paid in foreign currency.
Farmers in different states also confirm that with the naira devaluation, selling their produce to other countries brings more income, than selling it for naira.
Photo credit: Benson Ibeabuchi
Source: Getty Images
The PUNCH reports that farmers in Kano, Jigawa, and Yobe have recorded bumper harvests, especially in crops like millet, sorghum, beans, and maise, compared to their counterparts in other states.
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But they are exporting a major part of their harvests into neighbouring Chad, Niger Republic, Ghana, Cameroon and as far as Europe and Asia.
Better prices abroad
Abdulrashid Magaji, Chairman of the All Farmers Association of Nigeria, Kano state chapter, confirmed this, saying it is the handiwork of middlemen.
He noted that the middlemen are mostly Southerners who come to the north to purchase goods from local farmers and sell them to other countries for maximum profit.
He stressed;
“Even CFA Franc is stronger than our Naira, hence the reason why such middlemen export the grains to maximise profits.”
Farmers in different states also confirm that with the naira devaluation, selling their produce to other countries brings more income than selling it for naira.
While scarcity and inflation pushed more people into farming, they would rather export the produce where they get better value for their efforts.
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Even in Jigawa, where they recorded a bumper harvest of rice, millet, and sesame, they insist that international buyers from Asia and Europe offer better prices for their goods.
Govt begs farmers to sell local
Meanwhile, the government has called on the farmers to sell locally to support Nigeria’s food sufficiency drive.
Federal Ministry of Agriculture Coordinator in Jigawa State, Sale Salisu, said the government is strategising to incentivise local sales for the farmers.
He said that with the investments the government has committed to subsidise input for the farmers, it was only fair for the farmers to sell locally to support the country.
Recall that Henzodaily.ng had a chat with experts about factors that drove food inflation in 2024, and they pointed to food scarcity and increased demand.
The decision of these farmers to export food for foreign currencies at the onset of the dry season could spell more food scarcity in 2025 and further price surges.
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Food inflation continues to surge
In related news, the last data from the National Bureau of Statistics (NBS) put the national average food inflation at 39.93%.
Headline inflation at the end of 2024 had also surged to 34.6%, about 6.40% points up from the previous month.
Worse still, more than half of the 36 states had food inflation above 40%, with Sokoto, Yobe, and Edo being the worst hit, with 51.3%, 49.69%, and 47.77%, respectively.
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Source: Henzodaily.ng