Egg Prices May Drop Amidst Poultry Feed Cost Drop

The price of eggs may soon drop as the cost of poultry feed continues to decline.

The Feed Millers Industry Practitioners Association of Nigeria (FIPAN) attributed the development to the federal government’s agricultural policies, which, he said, were beginning to yield results.

Related News

Agric Trade Surges By 304% In 5 Years On Naira Depreciation

1 hour ago

NSIB, Aero Contractor Collaborate On Aviation Safety

1 hour ago

The national president of FIPAN, Dr. Ayoola Oduntan said: “Agriculture takes time to impact the market, but the effects are now being felt. Some sellers stocked goods when prices were high, but as feed costs decline, the price of chicken is also falling. It is only a matter of time before eggs become more affordable.”

He urged president Bola Tinubu to review tariffs on essential imports in the livestock sector, warning that high duties and value-added tax (VAT) on imported feed additives and raw materials were increasing production costs. He also called for more support for maize, soya, and groundnut farmers, as well as research funding to promote local raw material use.

Oduntan highlighted double taxation, airport delays, and bureaucratic bottlenecks as major hurdles affecting the industry.

Without reforms, he warned that livestock farmers would continue to struggle with high feed costs, leading to job losses, reduced protein supply, and increased reliance on expensive food imports.

Despite these challenges, he praised the government for its policies that have helped stabilise feed prices. These include: improvements in security, the ban on maize and soya exports, and the creation of the Ministry of Livestock Development.  He also commended the recapitalisation of the Bank of Agriculture, which he said had strengthened the agricultural value chain.

To sustain this progress, FIPAN recommended partnerships with agricultural agencies to implement contract farming for feed-grade maize, reducing competition with human consumption.