Global food market value to hit $10tr by 2027

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The global food market valued at over $7tr in 2022 has been projected to hit $10tr by the year 2027.

President of the Nigerian Institute of Food Science and Technology , Professor Joseph Oneh Abu, who stated this in Abia State, while addressing a press conference at the Michael Okpara University of Agriculture Umudike, hinged the projection on population…

According to him, the conference theme was deliberately chosen to reflect the entrepreneurial spirit of Abia and the need to critically evaluate and proffer workable solutions to the impediments to Nigerian foods’ competitiveness in the global space. Prof. Abu described establishment of NAFDAC as a good thing for the country, saying through their partnership, NIFST identified all registered food companies, adding that insecurity, poor funding, and inadequate infrastructures, among others as some of their challenges.

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