Nigeria and others are seeking ways to ensure adequate supply of feed for the livestock industry as rising prices are affecting producers.
The continuous increase in feed prices is making it difficult for livestock farmers to operate profitably as it accounts for about 70 per cent of production costs.
To this end, the Federal Government, Food and Agriculture Organisation of the United Nations (FAO) and African Union’s Resilient African Feed and Fodder Systems (RAFFS) Project have been meeting to evolve measures to address soaring cattle feed prices and other factors that have contributed to surging production costs in the livestock industry.
Generally, maize and soybeans are major livestock feed components.
The average prices of maize have surged to N480,000 per tonne from N227,500 per tonne in June.
This year’s soybeans market had opened on N330,000 per tonne, but as the demand increases, the price went up to N425,000; and it is still going up.
Experts from Nigeria and other countries met under RAFFS to discuss a resilient African feed and fodder agenda for African Union member states.
During the workshop, AU-IBAR’s Director Dr. Huyam Salih highlighted the importance of urgent mobilisation of resources to support the livestock sector and increase private and public sector initiatives for production.
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RAFFS Project Lead, Dr. Sarah Ashanut Ossiya called for a critical analysis of the sector, noting the importance of urgent strategies and actions by countries to avert future crises in the sector.
The experts advocated a comprehensive approach that addresses the financial aspects of the feed and fodder sector.
Questions were raised on how banks are engaging the sector, stressing the importance of creating a dialogue around investments and opportunities. A call to action was issued to explore the legislative avenues that can designate feed as a public good, ensuring its prioritization in government initiatives.
Recently,the Director General/Chief Executive, Feed Nigeria Summit Secretariat,Richard-Mark Mbaram indicated that the Federal Government was partnering with state government and farmers nationwide to grow more cassava to help minimize the economic impact occasioned by high cost of maize and soya beans.
He said that the costs of feed have surged to its highest, with supplies in maize and soya beans being limited by weather conditions and insecurity on the farms.