P
ProfRem
Guest
Price of wheat has crashed in Kano as farmers begin bumber harvest of grains markets in the ancient city.
Dailytrust newspaper reported that at Dawanau grains market, one of the largest produce markets in West Africa, revealed that the price of the commodity has crashed from N34,000 per 100kg bag to N15,000.
A business man in the market, Alhaji Danliti, said the recent crash was one of the lowest recorded in recent years.
He added that along with the price crash, patronage has dropped as against the normal trend.
“There are a lot of changes witnessed this year. From all indications, there is a bumper harvest of wheat this year, but the farmers are suffering because the price wasn’t favourable to them and the commodity seems to flood the market,” he said.
However, Abdu Iro, a wheat merchant, said the crash in wheat price is temporary as the commodity will regain its value in the market soon.
Dailytrust newspaper reported that at Dawanau grains market, one of the largest produce markets in West Africa, revealed that the price of the commodity has crashed from N34,000 per 100kg bag to N15,000.
A business man in the market, Alhaji Danliti, said the recent crash was one of the lowest recorded in recent years.
He added that along with the price crash, patronage has dropped as against the normal trend.
“There are a lot of changes witnessed this year. From all indications, there is a bumper harvest of wheat this year, but the farmers are suffering because the price wasn’t favourable to them and the commodity seems to flood the market,” he said.
However, Abdu Iro, a wheat merchant, said the crash in wheat price is temporary as the commodity will regain its value in the market soon.