Low production will compel livestock farmers to spend $2.75 billion on five million tonnes of animal feed imports this year.
Nigeria’s animal feed industry is largely dependent on imports because of a lack of production capacity as the country’s aquaculture industry relies on imports of fish feed due to inadequate aqua feed manufacturers.
It was gathered that a tonne of animal feed is $550 in the global market., while local feed costs $1,547 per tonne.
Read more at Newtelegraphng
Nigeria’s animal feed industry is largely dependent on imports because of a lack of production capacity as the country’s aquaculture industry relies on imports of fish feed due to inadequate aqua feed manufacturers.
It was gathered that a tonne of animal feed is $550 in the global market., while local feed costs $1,547 per tonne.
Read more at Newtelegraphng