Hello Hivers,
With hope your Saturday is going well?
This morning I decided to go to the store to buy bread and I noticed the drastic change in the prices, which made me sad and worried because bread is one food I eat daily and cannot do without.
The small loaf of 150naira (which is approximately $0.35) now cost 350naira( approximately $0.82).The loaf of 500naira(approximately $1.17)now cost 700naira(approximately $1.64)and the loaf of 700naira(approximately $1.64) now cost 1000naira (approximately $2.35).
Out of curiosity and anger, I had to do some research to know why these skyrocketed this way. I realized that a lot of factors were responsible. Some were justifiable while others I couldn't just wrap my head as to why.
THE REASONS
So I realized that there is currently a hike in prices of gas and diesel. This is making it very difficult to transport flour from the farms to small business scale owners. Bread makers are just using this issue to increase the prices so as to makeup for the high cost of transportation that is currently affecting the country.
I also noticed there is high importation cost. A friend who owns a small scale store told me that the price of butter, flour, sugar and yeast have gone up to about 30% of the usual price. So it is just wise to increase the price of bread so that at least, it can help cover up for the money used to purchase the input materials.
Another factor that is at least justifiable to me is the invasion of Ukraine by Russia. This has affected the price of bread not only in my country Nigeria but globally. I read that the that region accounts for a large percent of the world's wheat.
The war and of course the sanctions that are up against Russia, have resulted in a massive reduction of supply of some major stable foods.
Most homes in Nigeria and around the world will have to pay more for bread or better still, look for alternatives. When the war in Ukraine started, I didn't know it will affect me indirectly. I wonder how lovers of bread like me around the world with large families will face this new reality, coupled with the harsh economic realities on ground globally after the COVID 19 pandemic. It's either we get alternatives or we keep buying bread at this new price while hoping that the war ends, because more stable food prices will soon increase above the reach of the common man and this will definitely make more families go to bed without food and bread.
I pray our African leaders take agriculture seriously. We have the best soils in the world that can basically grow all kind of foods in large and commercial quantities and export to earn foreign exchange and grow our economy. A war in far away Europe shouldn't by any chance affect the price of food here in Africa if we take agriculture seriously.
Thanks for reading.