LAGOS, NIGERIA — Premier Feed Mills Ltd., a subsidiary of Flour Mills of Nigeria, recently announced on X, formerly known as Twitter, that it is suspending the purchase of maize and sorghum from Nigerian farmers due to high prices.

The announcement by Premier Feed Mills, which is a feed manufacturer in Nigeria and the largest producer of aquafeed in sub-Saharan Africa, comes after another agribusiness company, Olam Nigeria Ltd., announced earlier this month that it was taking similar measures over rising prices of the coarse grains, which are critical raw materials in feed production.

“As significant off-takers and processors of maize and sorghum, we can attest to maize and sorghum prices being artificially high at present, with ripple effects on prices of finished products like poultry and other livestock,” Premier Feed Mills said on the social media platform. “In the course of our active private-public sector collaborations, we have been in constant consultation with the government to establish viable ways of managing the ongoing food crisis, especially as it pertains to maize and sorghum.”

Premier Feeds said it will continue to monitor the market environment and lift the suspension when prices stabilize.

With food inflation affecting many countries, Nigeria has been particularly impacted with an inflation rate that reached 35% in January, as rice, maize and other grain prices reached record levels.