COMMODITY PRICES-MAIZE (25/07/2017)
The Federal Government has announced the new policy for tomato aimed at reducing N52 billion spent on the annual importation of 150, 000 metric tons of tomato concentrate through the neighboring countries into Nigeria.
The Minister of Industry, Trade and Investment (MITI), Okechukwu Enelamah who announced the new policy at a media parley yesterday in Abuja, informed that the policy was aimed at promoting local production of fresh tomato fruit required for fresh fruit consumption and processing and also increase local production of tomato concentrate and reduce post-harvest losses.
Nigeria imports an average of 150,000 metric tons of tomato concentrate per annum valued at $170million mostly due to inadequacy in capacity to produce tomato concentrate.
Current demand for fresh tomato fruits is estimated at about 2.45million metric tons per annum while the country produces only about 1.8million Metric tons per annum.
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Chiamaka Onyebuchi, Digital Marketing Strategist, Novus Agro Nig.