Traders count loses as prices of grains crash in the market

The prices of grains across markets in Yobe State have crashed to record low, due to bumper harvest during the last farming season.

It was learnt that buyers of the commodities are not trooping into state in order to buy the farm produce unlike in the previous year where at the same period, the prices of the grains had skyrocketed.

Beans, millet and guinea corn are the grains whose prices sloped down in recent times, a development that is catastrophic to the grains dealers in the state, while a good news for low-income consumers.

A market survey conducted by DAILY POST correspondent revealed that 100kg bag of red beans now goes for between N12,000 to N12,500 as against N22,000 to N23,000 at the outset of dry season, while the white beans is now sold at cost of N10,000 to N11,000 per 100kg bag depending on the quality of the commodity.

The survey also showed that millet was sold at the cost of N9,000 to N10,000 per 100kg bag during the time of harvest, but now the price has gone down to N7500 to N7700.

From N6,000, the price of guinea corn has now crashed to N5,000 per 100kg bag.

Interestingly however, the price of sesame has gone up from its initial price of N27,000 to N32,000 per 100kg bag, while the price of groundnut remains static at N32,000 per 100kg bag.

The Secretary of Damaturu Sunday Market Development Association, Babayo Hamza, in an interview with DAILY POST Monday on factors responsible for the crash in the prices of some grains, said, “bumper harvest was recorded in last year’s farming in most states across the federation and neighbouring countries, therefore, the demand for such grains has drastically reduced.

“Again, the disaster that befell Kaduna’s grain reserve where rainstorm destroyed the facility and commodities worth billions of naira, a development that discouraged the major dealers who normally buy stuff in large quantity from us, as they are still counting loses.”

According to Hamza, an investigation conducted by the Association revealed that the amount of preservative chemicals that the farmers are applying on the grains especially beans and sesame is preventing Chinese dealers from patronising the farm produce from the state due its harmful effect on human health.

“I am calling on farmers and local grains dealers to desist from using chemicals unnecessarily, instead they should resort to using approved ways of preserving these commodities in order to avoid loses”, he appealed.

The secretary expressed optimism that grains markets in the state would regain full strength on or before the commencement of the rainy season.