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CBN plans price crash, releases 50,000MT of maize to Crown-Olam, others


CBN plans price crash, releases 50,000MT of maize to Crown-Olam, others
The Punch
Published 29 June 2021
The Central Bank of Nigeria has approved the release of 50,000 metric tonnes of maize to 12 major producers from strategic maize reserve under the Anchor Borrowers’ Programme.
According to the CBN, the release of maize to the companies, which is the third of such releases, will reduce the price of grain in the market by checking the activities of middlemen who are hoarding the product and causing artificial scarcity.
The listed recipients of the grains include Premier Flour Mills, Crown-Olam, Grand Cereals, Animal Care, Amobyn Hybrid Feeds, Obasanjo Farms, Zartech, Wacot, Sayeed Farms, Pandagri Novum and Premium Farms. ....

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CBN releases 50,000MT of maize to 12 coys to crash price


Daily Trust reports that the release of maize to the companies, which is the third of such releases, is also intended to check the activities of middlemen aimed at hoarding the product and causing artificial scarcity.
The CBN listed recipients of the grains to include Premier Flour Mills, Crown-Olam, Grand Cereals, Animal Care, Amobyn and Hybrid Feeds. Others include Obasanjo Farms, Zartech, Wacot, Sayeed Farms, Pandagri Novum and Premium Farms.
Confirming this, CBN spokesman, Osita Nwanisobi, said the release would crash the price of maize, reduce pressure on the market, and make the product directly available to feed producers, thereby reducing the price of poultry feed. ....

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