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This narrative is quite misleading.
If Tolarams used to buy Yellow maize from it’s aggregator for #100k per metric tonne spending #5bn for instance in 2019, but now has to buy at #250k per metric tonne for instance, spending #12.5bn,
It has to raise it’s prices by at least
If Tolarams used to buy Yellow maize from it’s aggregator for #100k per metric tonne spending #5bn for instance in 2019, but now has to buy at #250k per metric tonne for instance, spending #12.5bn,
It has to raise it’s prices by at least
3 times to break even for it’s cornflakes business. Has it’s turnover for gross revenues gone up from higher prices on it’s goods, yes, but so has it’s operating expenses.
This is the foundation for the food inflation we see today, because while the secondary processors are able
This is the foundation for the food inflation we see today, because while the secondary processors are able
to manufacture, they lack the inputs to do so from several reasons:
• Insecurity in the North
• Increase in prices of fertilizer, seeds, chemicals, lack of equipment to mechanize
This is why I said, everything you do is competing with food, becos while the income of Nigerians
• Insecurity in the North
• Increase in prices of fertilizer, seeds, chemicals, lack of equipment to mechanize
This is why I said, everything you do is competing with food, becos while the income of Nigerians
