The year 2022 has marked a significant period for food production in Nigeria. The ongoing Russia-Ukraine crises, harsh weather conditions, and flash floods have highlighted vulnerabilities in our food system, including the importance of sustainable food production and its impact on food affordability, availability, and accessibility. We are continuing to see the pressing need to grow our capacity as a country to support food production.

It is on that note that we were proud to research, write, and release our 2022 Wet Season Crop Production report to aid the understanding of the national food system through farmer surveys and measurement of transaction-level data tracking six key commodities (maize, paddy rice, sorghum, soybean, cocoa, and sesame) and their performance in the preceding season. The report gives us insight into the magnitude and nature of production levels and outlook for the upcoming season to help each stakeholder to monitor the market accurately and in a timely way.

Here are some key insights from the report to help you optimize your decision-making in the commodities market this year:

• The report forecasts an average decline in production levels of up to 11.5% across commodities like maize, paddy rice, sorghum, and cocoa.
• Soybean and sesame will experience a close to 6.5% increase in production levels
• Effects of the Russia-Ukraine crisis continue to be felt in the local agricultural commodity markets, especially because of the hike in the price of fertilizer.
• The report forecasts paddy rice as being the most susceptible to production and output pressures, facing close to a 22.47% decline in production volumes.