In April, the global benchmark for food commodity prices ticked upwards, as declines in sugar and dairy products were outweighed by increase in meat prices, vegetable oils and cereals according to the Food and Agriculture Organization of the United Nations (FAO).
The Diabetes Association of Nigeria has called for an increase in sugar tax from 10% to 20% citing it as a measure to combat consumption of sugar.
National Sugar Master Plan from 2023-2033 as the first phase failed to achieve the objective of increased raw sugar production in Nigeria.
Flour Mills Nigeria Plc has refuted allegations by BUA Foods Plc, claiming that it had suspended the sale of sugar as a result of outstanding compliance.
BUA Foods Plc says it has no part in the decision of two other major sugar producers to suspend sales in the country.
Dangote Sugar Refinery Plc. recently declared a 33.0% Year to year growth in earnings to N29.8 billion for the financial year of 2020
BUA Group says the price of cement and sugar is high because local production of these products could not cater to demand.
