Rising Egg Prices in Nigeria: Poultry Association Explains the Reasons

The Poultry Association of Nigeria has shed light on the reasons behind the significant increase in egg prices.

As of February 2024, a crate of eggs from a poultry farm gate now sells for approximately N3400, a notable rise from the N2700 price in January.

According to the association, the fluctuating foreign exchange rates have led to an increase in the cost of feed materials, which has directly impacted the price of poultry produce, particularly eggs.

In addition to this, some middlemen in the industry have been taking advantage of the situation by seeking higher profits, further driving up the cost of eggs.

The recent surge in egg prices has caused concern among consumers, who are now paying more for a staple food item.

The Poultry Association of Nigeria is working to address these issues and find solutions to stabilize the market and ensure a fair price for both producers and consumers.

As the situation continues to unfold, it is essential for the Nigerian government and the poultry industry to collaborate and find sustainable ways to manage the fluctuating foreign exchange rates and control the profit-seeking behavior of middlemen.

This will not only help stabilize egg prices but also contribute to the overall growth and development of the poultry sector in Nigeria.