Foodstuff dealers, hoarders count losses as prices crash

Prices of grains have continued to crash across markets in Yobe State.

Report from Ngalda grains market, one of the largest markets in the state, revealed that prices of grains such as beans, millet, sorghum, among others, have significantly dropped following a sustained supply of the commodities.

Idriss Zakari, a grain dealer told DAILY POST that the price of maize has now crashed to between N35,000 to N32,000, millet now sold at the cost of

N31,000 and N33,000, while new harvested millet goes between N25,000 and N26,000 per 100kg bag.

“White beans go for N70,000 to N73,000 and red beans- N71,000 to N76,000, while rice paddy Shinkafa is now sold at the cost of N35,000 and N37,000 depending on the quality”, he added.

When asked what may be responsible for the crash in the prices, the dealer said continuous supply of hoarded and newly harvested grains to market contributed.

The development has led many grain dealers and hoarders to count losses.