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FOOD PRICES DROP IN KANO TARABA KWARA NIGER STATE
Kano
Reports from Kano State yesterday had it that prices of maize, soya beans, beans and rice 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.
A trader at Bunkure Market, Adam Isah Barkum, attributed the drop in food prices to the drop in demand from major buyers.
In some of the markets visited by our correspondent in Kano, 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.
Taraba
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, yesterday told Daily Trust that the price of 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 market
Kwara
In Kwara State, a farmer and former chairperson of the Kwara Rural Farmers, Bose Anifowose, told our correspondent 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 monthmonth
Niger
In Niger State, especially in Bida, our correspondent yesterday observed a reduction in the price of 50kg bag of maize from N52,000 to N48,000 and guinea corn, from N48,000 to N39,000.
Residents of the state said 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
Prices still high in Benue; fluctuate in Katsina
In Benue State, food prices were yet to drop as of yesterday.
Our correspondent observed at some markets the price of 100kg bag of millet had jumped to N75,000 from N66,000 it was sold two weeks ago; maize, from N65,000 to N70,000; sesame from N165,000 to N185,000; and a 50kg bag of rice, from N67,000 to N72,000.
However, the price of a 100kg bag of soybean had dropped to N55,000 from N80,000 it was sold two weeks ago.
A local marketer, who identified himself as Dennis, said this was “because farmers are now bringing the harvested soybean to the markets. Before now, they were yet to harvest it.”
In Katsina State, prices of farm produce have started dropping following the withdrawal of animal feed companies from markets.
Murtala Abubakar, a feed company agent, said they have halted off-taking of grains from markets since last Tuesday.
“Olam that has been the major off-taker in Dandume, Funtua, Kafur, Bakori and Giwa grain markets withdrew a week ago and since then, the price of maize crashed to N52,000 from N60,000.”
Abubakar said there were other factors affecting the price of the commodities such as scarcity of the maize in the markets
The price is not yet stable because other factors such as the depreciation of the naira that is making foreigners to buy in bulk and scarcity of the produce in the markets have made the price of maize and other produce to fluctuate from one market to another,’’ he said.
Another player in the market, Umar Samaila, said soybeans’ price had reached N60,000 from N52,000 despite the company’s stoppage from off taking it last Friday.
“In Giwa, maize is now N52,000, sorghum N45,000 and soybeans 57,000. In Dandume, maize is N57,000, sorghum N48,000 and soybeans N58,000.
In Bakori, maize is now N58,000, sorghum N48,000 and soybeans N60,000. This is attributed to merchants from far and near that are flooding the markets for the produce,” he said.
In early February, the price of maize reached N60,000; sorghum, N53,000; rice, N110,000, beans N82,000 and paddy rice, N45,0000
