The prices of food items in major grain markets in Kano, Taraba and Niger states have reportedly started to drop.
DailyTrust reports that some factors have been cited as responsible for the drop in prices of food items, among them include the stoppage of inter-state movement with food items in some parts of the country, increased surveillance around borders to stem export and clampdown on some people discovered to be hoarding the grains.
According to the report, prices of maize, soya beans, beans and rice in Kano state had dropped at Doguwa, Tudun Wada and Bunkure markets and others.
A grain merchant, Hudu Faruk, attributed the price drop to the sealing of warehouses accused of hoarding grains by the Kano State Public Complaint and Anti-Corruption Commission.
“They have asked us to halt the purchase of commodities and many merchants are apprehensive on the matter hence, they quit buying last week. Perhaps, this is the main reason behind the drop in price,” he said.
It was observed that a 100kg bag of maize which was sold for between N58,000 and N60,000 last week, was sold at between N50,000 and N48,000 yesterday; while the price of beans dropped from N94,000 to N85,000
Similarly in Taraba State, prices of maize, millet, sorghum, white beans, soybeans and dried cassava have come down at Mutum Biyu, Garba-Chede, Maihula and Iware markets.
At Maihula town, a farmer, Ali Maihula, said that the price of a 100kg bag of maize had dropped from N54,000 to N40,000; soybeans, from N40,000 to N32,000; sorghum from N50,000 to N41,00; a mudu of locally processed rice, from N2,300 to N1,700; and white beans dropped from N2,100 to N1,600. A trader, Garba Mutum Biyu, attributed the price drop to the absence of middlemen who used to make bulk purchases at the markets.
In Kwara State, a farmer and former chairperson of the Kwara Rural Farmers, Bose Anifowose, said that a 50kg bag of maize which she sold above N65,000 in January was sold for N40,000 at Ajase market yesterday. A former secretary of AFAN, Mukaila Salaudeen, who is also the chairman of Amana Farmers, Ilọrin, said
“At the local market now, the prices of grains like maize and beans, among others are gradually coming down. From above N100,000, a bag of beans is now about N90,000 with the price of maize somehow remaining stagnant. We are hoping that in a week or two, it will crash from around N65,000 per bag some farmers said they sold last month. Most of those who are hoarding the commodities are having fear that the policy of government may crash grain prices after the release from the grain reserve.”
In Niger State, especially in Bida, the price of a 50kg bag of maize dropped from N52,000 to N48,000 and guinea corn, from N48,000 to N39,000. Residents of the state were quoted as saying that the reduction in prices was due to the decision of the government to ban bulk buying of grains from markets. However, prices of fertilizers have skyrocketed at markets in the state ahead of the coming rainy season farming.
A fertilizer dealer in Minna, Danjuma Yarima, said the price of Urea had been increased from N25,000 to N36, 000; and NPK, from N27,000 to N37,500.