Cassava Crisis: Farmers Struggle as Prices Crash, Factories Shut Down

The cassava crisis in Nigeria has left farmers struggling as prices crash and processing factories shut down due to oversupply in the market. Experts had warned about the possibility of an oversupply in the cassava value chain earlier in the year, but their advice was largely ignored.

The drop in demand for cassava flour and starch, mainly due to cheaper imported alternatives like corn starch, has led to a sharp decrease in cassava prices. Farmers are finding it difficult to sell their produce, with many regretting planting cassava last year.

The oversupply in Oyo State has had a significant impact on market prices nationwide. While there is some hope with ethanol companies and buyers from Ghana showing interest, the rainy season has made it difficult to produce dry cassava chips, leading to a shortage.

Local processors are idle due to lack of demand, with calls for the government to protect them from cheap imports and support the local industry to prevent a future processing crisis.