Prices of Grains Falls as New Harvest Hit Markets In Kano Nigeria

New grains have started appearing in major markets in Kano, forcing their prices to come down, the News Agency of Nigeria (NAN) reports.

A survey by NAN at Dawanau International Grains Market near Kano revealed that prices of commodities such as rice, beans, maize and gari recorded about 40 per cent fall.

A bag of brown beans and white beans, which hitherto cost N21,000 and N22,000 three weeks ago, now sell for N14,000 and N12,000 respectively.

Similarly one bag of soya beans cost N6,000 as against the former price of N9,000 while a bag of maize sells for N4,500, down from N6,000.

Similarly, a bag of gari which hitherto sold for N4,400 now cost N3,800 while a bag of dry cassava which sold for N4,000 the three weeks ago, is now N3,700.

Sorghum is now N6,300 per bag as against the old price of N7,000 while that of local rice remained stable in the market, with a bag going for N14,000.

Malam Yau Tumfafi, a grains dealer, attributed the price crash to the arrival of new grains in the market.

Ali Saidu, a rice dealer told NAN that government, companies and other marketers who were buying the products in large quantities had yet to start buying the commodities.

Wada Zakari, a customer, who came from Jigawa to buy red beans, expressed delight about the price situation.

“I am very happy with this development; every year at this period, prices of foodstuffs normally come down and I take advantage of that to stock more foods before the year ends,’’ Zakari said.

Agribusiness Information