25.3 C
New York

Flour Mills Nigeria Ltd reaffirms commitment amid raw material price hike


Flour Mills Nigeria Ltd (FMN), a leading player in the Nigerian food industry, has underscored its unwavering dedication to promoting local content by adapting innovative strategies to meet the evolving needs of its customers, despite the recent surge in raw material prices.

The company, through its subsidiary Premier Feed Mills, made this declaration while addressing the challenges posed by the escalating prices of maize and sorghum, essential ingredients in its product lines.

In a statement released by FMN, the company expressed concerns over the artificially inflated prices of maize and sorghum, emphasizing the detrimental impact on food security nationwide. As a significant purchaser of these commodities, FMN recognizes the ripple effects on prices and the availability of finished products, particularly in the poultry and livestock sectors.

Acknowledging the importance of collaboration between the private and public sectors, FMN revealed ongoing consultations with the government to explore viable solutions to the prevailing food crisis, particularly regarding maize and sorghum.

Consequently, Premier Feed Mills announced a temporary suspension of maize and sorghum purchases as a proactive measure to assess market dynamics effectively. However, the company remains steadfast in its commitment

Discover more from NaijaOne

Subscribe to get the latest posts sent to your email.

Related articles