Farmers Count Losses as NBS Data Shows Sharp Decline in Food Prices

The NBS January 2026 food price report triggered contrasting reactions: consumers celebrated relief while farmers and processors warned of deepening losses. A rice processor noted that farmers who received fertiliser inputs on credit now face offtake prices well below their production costs — some selling rice at ?30,000 per bag after spending ?120,000 to produce it. AFAN warned that sustained price compression could discourage planting in the 2026 cycle, particularly as producer funding gaps widen. Analysts said food price trajectories in H1 2026 hinge on policy coordination, input affordability and farmer confidence ahead of the planting season.