Poultry Farmers Warn a Crate of Eggs Could Sell for N10,000, Give Reasons

• Poultry farmers are considering increasing the price of a crate of eggs, citing several economic factors
• Currently, Nigerians pay N6,000 for a crate and the poultry farmers have expressed the need for intervention unless there is a change
• The farmers said they are finding it hard to keep the prices at the current level out of concerns for Nigerians

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Poultry Association of Nigeria (PAN) have sounded an alarm that a crate of eggs may soon be sold at N10,000.

The average price of a crate of eggs has hit N6,000 in various parts of Nigeria, from less than N3000 per crate 12-15 months ago.

Why Poultry prices will change

Read also

Inflation pushes bread prices high as bakers quote new costs, give reasons

Musa Hakeem, Secretary of PAN in the Federal Capital Territory (FCT), who disclosed this, called on the government to declare a state of emergency in the egg production sector.

He added that the price hike would be inevitable without swift intervention, worsening Nigerians' already declining protein consumption.

Hakeem said that the imminent increase in soaring transportation costs resulted from the removal of fuel subsidies and the escalating feed prices driven by feed millers.

He said:

"The sharp rise in production costs could push the price of a crate to N10,000, but we have kept it at N5,500 out of consideration for consumers.”

He expressed disappointment over the lack of significant governmental support, noting that poultry farmers' last grain assistance was three years ago.

Hakeem urged stronger cooperation between the government and poultry farmers, emphasizing that the association possesses comprehensive data on poultry farmers that could be utilised for more targeted interventions.

Read also

Group proffers solutions to fuel price as new increase raises concern

Checks on the AFEX Commodity website show that a metric ton of maize currently goes for N710,000 as against N480,000 per metric ton in 2023, indicating a 48% price rise in one year.

Six cheap foods now unaffordable to Nigerians

In related news, Legit.ng had reported that some formerly cheap food items are no longer affordable to average Nigerian homes.

According to a market survey undertaken by Legit.ng, food product prices have doubled in recent months.

The continuous rise in the costs of these staple foods, alongside other commodities, has reduced the buying capacity of Nigerians, as many find it challenging to meet their daily dietary needs.

Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.

Source: Legit.ng