Wheat price rises 50% as imports fall

The price of durum wheat has increased by 50% since the start of 2022 and its import has fallen by 16.09%.

This is due to the global shortage of wheat caused by Russia-Ukraine and the lack of foreign currency in the country.

Speaking to The PUNCH, the National Public Relations Officer of the National Association of Wheat Growers, Processors and Distributors of Nigeria, Tola Ogunnubi said: " Before the war it was selling for N27,000 to N28,000 for 100kg, it is N41,000 to N42,000 now.”

Durum wheat import into Nigeria collapsed by 16.09% year-on-year in the first nine months of 2022. According to data from the National Bureau of Statistics, the total import durum wheat in Nigeria Nigeria was 753.59 billion naira in the first three quarters of 2022, down 144.59 billion naira from the 898.19 billion naira it was during the corresponding period of 2021.

According to the NBS, durum wheat is Nigeria's top agricultural import. He said: "Major agricultural commodities imported in the first quarter of 2022 included durum wheat (not grain) came from the United States with 71.56 billion naira and Argentina with 59.04 billion naira.

"Major agricultural products imported in the second quarter of 2022 included 'durum wheat (not grain)' from the United States of America at 70.67 billion naira and from Lithuania at 60.87 Major agricultural products imported in the third quarter of 2022 included "durum wheat (not grain)" from the United States of America with 78.29 billion naira and Poland with 45.62 billion naira. »

Wheat, which is used as flour, is essential for the production of pasta, bread, noodles and other food products. The decline in wheat imports on which the country is heavily dependent has resulted in higher prices for most of these food items.

Ogunnubi said, "The import of wheat is decreasing, but that does not mean that we have reached wheat sufficiency as such. Wheat still maintains the third position in terms of commodities that engulf the highest exchange rates. This is after refined petroleum products and gas.

"Wheat is still the third highest and we are looking at a situation where we have a sufficiency of wheat like we had for rice. We look forward to the government encouraging the cultivation and wheat production. We implore the government to intervene in the entire value chain of wheat production. From planting, processing, distribution, all the way through the entire value chain."

"Wheat is quickly becoming a staple food. If people don't eat corn, they eat bread, flour, spaghetti, which are some of the by-products of wheat So why aren't enough.

"The crisis in Russia and Ukraine affects the import, but that does not mean that there are no other markets for the import. The durum wheat that we tend to be processed in Nigeria may come from Mexico. It's not like people aren't looking in that direction, but the CBN doesn't give foreign currency. The CBN doesn't give foreign currency for importing wheat."

According to him, at the start of the year, a loaf of bread in Abuja that was between N350 and N400 is now N800.

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