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China faces loosing grip on the Nigerian tomato paste market

China faces loosing grip on the Nigerian tomato paste market

The minister of state for industry, trade and investment Hajia Aisha Abubakar, In  a tour/inspection  at the Erisco food limited facility, Discloses that, federal government has decided to implement its policy on locally made tomato paste as against the importation of substantial tomato paste in the country,

The minister also noted that the reason behind this policy was to salvage the problem of tomato scarcity in the country following the outbreak of tuta absoluta (tomato ebola) few months back.

It’s no News that local tomato producing companies have refused to grow because of the activities of people who smuggle tomato paste from china and other countries into Nigeria, that was why the CEO, Erisco foods noted in an interview with vanguard that “we have the capacity to meet the demands of  Nigeria and export more but there is no market share”

 Therefore, It’s tentative to note that, with this new step by the Nigerian government, the Chinese would reduce their product price or face being sent out of the local market by this policy or the forces of demand and supply, these can be further buttressed by Alhaji Sani Dangote’s point , the Chairman of the newly established Dangote Farms in Kano, he mentioned that the Chinese are gradually becoming jittery because they suspect their grip on the market will be terminated. In order for them to still own a significant share, they may be forced to reduce their prices so as to reduce the demand for Dangote’s version of the product.

According to the Minister, the major decision Nigeria has taken in this regard is to develop a tomato policy under the National Industrial Revolution Programme, when noting that a technical committee to draft the policy would kick off this week, perhaps getting an approval before the next tomato season

On the approval of this policy the government plans to engage farmers with the Federal Ministry of Agriculture and other related ministries, for the achievement of the policy goal .

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Friday, 23 August 2019
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