Business
Global Market: Association Seeks Improved Financing For Ginger Production, Processing
The National Ginger Association of Nigeria has called for improved funding of ginger production to enable it compete in the international market.
The president of the association, retired Sqd. Ldr Nuhu Daudu made the appeal while speaking with newsmen yesterday in Abuja.
Daudu identified ginger as attracting more foreign exchange compared to other commodities adding that farmers should be adequately funded to meet global standard in terms of market value for the commodity.
The president condemned high interest rate attached to loan in banks and pleaded for the removal of such to enable farmers have the needed resources to boost their production capacity.
“Before now ginger was about one to two thousand dollars per ton but, through certification and organic cultivation it has risen to six thousand dollars per ton.
“The amount is higher than the cost of one barrel of oil,” Daudu said.
The president who listed the major challenges of the association as funding and mechanisation noted that 95 per cent of his members were subsistence farmers.
According to him, most of the farmers were living from hand to mouth and considering their economic status they could not afford the interest rates attached to loan in the banks.
“How do you tell subsistence farmers in Nigeria who are living from hand to mouth to go and get loan from the banks?
“It is only the five per cent out of the farmers who are the money bags that still go and collect this money, he said.
“Considering this challenge, it will be impossible for Nigeria to meet up with the international market unless the government do more by improving on ginger financing.