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By Chinyere Anyanwu
Olam Agri in Nigeria, a leading provider of differentiated food, feed and fibre products, said it has decided to temporarily suspend the procurement of essential grains, including maize and sorghum, immediately to enable it closely monitor market trends and adjust to market realities.
A statement released by the company at the weekend said it “recognises the nation’s significant challenges of food insecurity. As a major buyer and processor of food staples, we share the concerns around the high prices and supply chain disruptions affecting the availability of essential grains.
“In response to these challenges, we are actively collaborating with industry peers and government authorities to identify and implement strategic solutions to alleviate any additional stress on food
availability.”
It further stated that the decision “follows wide consultations with relevant authorities and is part of our commitment to manage the ongoing crisis. During this period, our commitment to contribute to local food production capacities remains unwavering as we will ensure uninterrupted distribution of food supplies to the public.
“Our longstanding practice of sourcing essential grains from local Nigerian farmers has supported thousands of livelihoods and met the country’s demand for critical nutrients in daily diets.
“We are steadfast in our commitment to driving sustainable socio-economic development and food security in Nigeria. We are committed and will continue to work closely with authorities to contribute to stabilising the current market challenges.”
