Food prices drop ahead Ramadan

Prices of food commodities like maize, rice, millet, sorghum, beans, flour and soybeans, among others have dropped, especially in major producing states.

This is happening ahead of the Ramadan, which commences in a few days.

Non-producing states are also said to be feeling the impact of the reduction in food prices.

Observation by Daily Trust at grain markets in different parts of the country showed that agents of poultry feeds and rice milling companies as well as middlemen have scaled down the purchase of grains across states.

Experts linked the declined market activities by the middlemen to low patronages experienced after Christmas and New Year breaks, leading to significant drop in prices of grains like maize, millet, sorghum, paddy and beans, in addition to massive imports of the commodities.

Others said the recent massive import of some of the agricultural produce also contributed to the drop in price.

For instance, a 50kg bag of flour, which was sold for N80, 000 before the importation some few weeks ago, is now between N61, 000 and N63, 000 depending on the market.

The same also applied to locally milled rice, which the import of the produce has also affected.

While prices of grains have dropped, those of groundnut, cocoa, yam, Irish potatoes, palm and vegetable oils remain slightly high in many markets visited by Daily Trust.

At the Saminaka grain market in Kaduna State, a 100kg bag of maize, which was sold between N70, 000 and N75, 000 in most markets during harvest, is now N47, 000; while soybeans, sold for N110,000, is now N68,000.

Similarly, the white variety of beans, sold for N150, 000 during harvest, is now N100, 000.

At the Giwa market, also in Kaduna State, millet and sorghum were on Friday sold between N50, 000 and N51,000 as against the N79,000 to N80,000 sold last year before harvest.

The price of soybean dropped from N120,000 to N80,000; white beans, from N160,000 to N88,000; paddy, N75,000 to between N55,000 and N60,000.

At the Mutum Biyu grains market in Taraba State, the price of a 100kg bag of paddy rice is now N45,000 as against the N50,000 last month; a 100kg bag of maize, sold previously at N57,000, is now between N40,000 and N45 000; a 100kg bag of dried cassava, previously N25,000, is now N18,000 and N19 000.

A market survey conducted by Daily Trust across Makurdi metropolis, showed a significant drop in prices of essential food items compared to six months ago.

At the Wadata Market in Makurdi, Benue State, a 50kg bag of local rice is now between N26,000 and N29,000 as against between N45,000 and N55,000 it cost about six months ago. At the Modern Market, the price of a mudu of rice has dropped from N2,700 to N1,800, it was gathered.

Other staples have also seen price reductions as a big basket of tomatoes, previously sold for N45,000, now costs between N30,000 and N35,000. The price of a mudu of maize, millet, and guinea corn has fallen from N3,200 to N1,200; a litre of palm oil, is now N1,800 from N2,500; a rubber of garri, N2,300 from N3,500; 10 tubers of yam, between N10,000 and N15,000 from between N12,000 and N18,000.