November 7, 2024
Paddy rice, maize, soybean production to decline 13% in 2024
Business News

Paddy rice, maize, soybean production to decline 13% in 2024

Paddy rice, maize, soybean production to decline 13% in 2024

In a worrying development for Nigeria’s agricultural sector, the latest AFEX 2024 Wet Season report forecasts a significant drop in the production of three key staples—paddy rice, maize, and soybean—by an average of 13 percent. These crops, integral to the nation’s food supply, are anticipated to experience reduced yields largely due to escalating fertiliser costs and challenging climate conditions.

The report projects a 5.6 percent decline in maize production, while paddy rice is expected to drop by 2.6 percent, with soybean not far behind, projected to decline by 4.8 percent.

These anticipated declines, according to the report, stem from a combination of factors that include a reduction in the amount of land under cultivation, limited access to fertilisers, and increasingly adverse weather patterns. This trend signals potential strain on Nigeria’s food security, as these staples are crucial to the country’s diet and economy.

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