In response to the ongoing food inflation in Nigeria, grain vendors at Dawanau International Market, Kano State, have unanimously agreed to reduce grain prices, aiming to alleviate the prevailing challenges faced by residents in the region....CONTINUE READING
This decision was reached by the dealers, organised under the Dawanau International Market Development Association, in response to government actions to close warehouses suspected of stockpiling food items.
Alhaji Muttaka Isa, the chairman of the association, revealed this during an interview with Voice of Nigeria in Kano. He emphasised that the price reduction initiative was also intended to stimulate sales, addressing the prolonged issue of low patronage experienced by dealers in the international market.
Kano Grain Market Slashes Prices in Response to Food Inflation
“If you go round the market now, you will notice that the prices of grains such as maize, guinea corn, millet, and beans have been reduced compared to what was obtained here about two weeks ago. A bag of maize now sells for about N53,000, as against the old price of N60,000, while that of guinea corn now sells for N49,000, as against the former price of N55,000, depending on the quality.
He continued to outline the revised prices, citing adjustments for millet, beans, soya beans, sesame seeds, local rice, and wheat. These reductions, according to Isa, aim to alleviate the impact of the prevailing economic challenges, which have significantly hampered consumers’ purchasing power.
“Also, a bag of millet, which used to sell for N60,000, now costs N53,000, and that of beans now costs between N85,000 and N90,000, as against the old price of between N95,000 and N100,000, depending on quality.”
Isa also urged the Nigerian Government to intervene by providing subsidised fertiliser and other agricultural tools to farmers, thus bolstering food security efforts.
Dawanau International Grains Market stands as the largest in West Africa, catering to customers in neighbouring countries such as Niger, Chad, Cameroon, and the Central African Republic. Additionally, it serves as a hub for storing crops destined for export to Asian, European, and other global markets, including sobo, sesame seeds, tamarind, and soybeans.
