Prices of grains have crashed in Kano, sequel to arrival of fresh farm produce as farmers commenced harvesting their crops.
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A check by the the News Agency of Nigeria (NAN) in grain markets in Kano metropolis on Wednesday, indicated that prices of local varieties such as rice, maize, millet and beans had dropped by about 30 per cent.
A 100 kg bag of local rice was sold between N36,000 and N44,000 as against it’s old price of N54,000 in the past few weeks.
Also, a 100 kg bag of old stock maize was sold at N22,000 as against its previous price of N24,000, while a 100 kg bag of fresh maize goes for between N16,000 and N18,000 respectively.
Millet and beans also indicated similar decrease in prices as 100 kg bag of old stock beans sold at N17,000 as against 24,000.
While a big size bag of millet sold for N16,000 as against its old price of N21,000.
Some of the grain dealers at the market attributed the drop in prices to the improvement in the supply of the produce from farms to the markets in the state.
Kawu Hassan, a maize dealer said that prices were going down due to the increase in the supply of farm produce to the market.
Another dealer, Sabo Ibrahim, who corroborated earlier opinion, said prices would further go down as the produce flood to the markets.
Also, Amina Ibrahim, a resident, said she was happy over the development and expressed the hope that prices would further go down in view of the good yields recorded by farmers.
Another resident, Ishaku Yusuf added that: “‘We are happy that the prices of grains crashed in the market and we hope that prices will still crash further,” he said.