Nigerias staple food market has been shaken by a dramatic price slump as garri one of the countrys most consumed food items experiences a 51 percent drop in price The sudden decline comes as a result of a massive cassava glut with farmers harvesting more produce than the processing industry can immediately absorb .
Cassava Production Peaks Overwhelming Processors
Agricultural experts attribute the glut to an unusually productive harvest season supported by increased rainfall expansion of farmland and improved cassava varieties In several states known for cassava production including Ogun Edo Ondo Kogi and Delta farmers have reported harvest yields nearly double those of previous years .
While this would typically be a welcome development processing plants and local mills say they are overwhelmed by supply With insufficient capacity to convert cassava into garri starch chips and industrial derivatives the excess produce has flooded markets forcing processors and traders to slash garri prices drastically .
Sharp Decline in Market Prices
In major markets across the country the price of garri has dropped steeply .
A basin that previously sold for N12000 now averages N6000 .
A paint bucket measurement has dropped from N1200 to N600 .
Retail prices per cup have fallen from N150 to N70 or less in some rural markets .
The 51 percent price decline has sparked mixed reactions among Nigerians While consumers are relieved farmers fear severe financial losses .
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Farmers Count Losses Amid Surplus
For many cassava farmers especially smallholder operators the glut is devastating After investing heavily in labour fertilizer and transportation many are now forced to sell at prices below production cost .
Some farmers report that they are allowing portions of their cassava harvest to rot on the farm because the cost of harvesting and transporting exceeds the potential selling price Others have expressed concern over loans taken for the farming season fearing they may be unable to repay them .
A farmer in Edo State lamented .
We had a very good harvest this year but we cannot sell at a profitable rate The market is flooded What we planted with high expectations is now bringing losses .
Traders and Processors Struggle with Storage and Capacity Limits
Garri processors are also grappling with unprecedented pressure Many local mills lack adequate drying and storage facilities to handle large volumes of cassava at once Some processors say they are processing day and night but still cannot meet the rate at which farmers arrive with produce .
Despite this traders remain cautious Many fear that prices could plunge even further if supply continues unchecked Some have slowed down purchases in anticipation of a continued surplus .
Consumers Celebrate Lower Food Prices
Not all reactions have been negative For millions of households battling rising food inflation the slump in garri price is a welcome relief Garri a household staple consumed in all regions of Nigeria is used for meals such as eba soaked garri and fortified dishes .
With galloping inflation affecting rice beans yam and cooking oil many families are now returning to garri as a more affordable alternative Food vendors and small eateries are also benefiting from reduced costs .
A food seller in Lagos shared
This is the first time in a long while that food prices are going down We can sell meals cheaper and still make profit .
Economic Experts Weigh In
Economists warn that the sharp price drop may have short term and long term implications While consumers enjoy temporary relief sustained losses could discourage farmers from planting cassava next season This could result in future scarcity and a rebound in prices .
They emphasize the need for better storage infrastructure improved processing capacity and government intervention to stabilize prices throughout the agricultural value chain .
Calls for Government Intervention
Stakeholders in the agricultural sector are urging the government to step in by .
Expanding cassava processing zones .
Providing subsidies or soft loans to affected farmers .
Improving rural transportation networks .
Establishing commodity boards to stabilize prices .
Supporting large scale storage and value addition facilities .
Many believe such steps are necessary to prevent future gluts and ensure farmers are not discouraged .
Outlook for the Coming Months
While analysts expect the garri price decline to persist in the short term market corrections may occur as processors catch up with the surplus and demand gradually balances out supply For now Nigerians continue to watch the market closely hoping for a more stable food economy .
Disclaimer
The news information presented here is based on available reports and reliable sources Readers should cross check updates from official news outlets .