THE days of cheap beef being widely available in the market appear to be over. This follows the rising cost of input, a development which is hampering local production growth for meat.
An expert, Dr Ademola Adeyemo, said the cost of feed was likely to remain high. The price of other input have also risen, including those associated with meeting more stringent regulations and requirements for the environment, animal welfare and health.
Adeyemo, Deputy Director/Head, General Management Division, Agricultural and Rural Management Training Institute(ARMTI), said the meat prices could see an upwards shift.
He said beef production has slowed due to the combined challenges of rising input costs, surging land prices, and competition from other commodities.
While demand for meat continues to rise, he said production remains restricted.
According to him, industry could see some slowdown as producers have come under pressure from rising input costs and land prices – as well as the reduced investment into the cattle herd due to lower returns.
He said the reduced investment in the Nigerian herd had impacted production.