Flour Mills Nigeria Ltd, through its subsidiary Premier Feed Mills, has announced the temporary suspension of maize and sorghum purchase due to the recent surge in commodity prices.
This decision was disclosed in a public statement, citing concerns about the artificially high prices and their adverse impact on food security nationwide.
The company stated, “As significant off-takers of maize and sorghum, we have observed the current artificially high prices of these commodities, which are affecting prices of finished products such as poultry and other livestock.
In collaboration with the government, we have been exploring solutions to manage the ongoing food crisis, particularly concerning maize and sorghum.”
Nigeria grapples with staggering food inflation, reaching 35.41 per cent in January, leading to unprecedented price hikes in staple foods like rice, maize, and other grains.
In response, the federal government has announced strategic interventions, including releasing grains from the national reserve to stabilize the market and mitigate the crisis.
