Nigeria: Grain prices unstable despite dry season harvest

Published 2023년 6월 11일

Tridge summary

Prices of essential food commodities such as paddy, maize, wheat, dried cassava, yam, millet, soybeans, palm oil, and vegetables have experienced significant volatility across northern Nigeria, following the removal of fuel subsidy. The increase in the price of petroleum products has led to higher transportation costs, impacting the market prices of agricultural products. Some markets have reported a decrease in prices for certain commodities like maize and sorghum, while prices for rice and wheat remain unstable. The fluctuation in prices is further influenced by the ongoing dry season harvest and the availability of cash in the market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Vincent A. Yusuf (Abuja), MagajiIsa Hunkuyi (Jalingo) Abubakar Akote, (Minna), Ali Rabiu Ali, (Dutse) & Zahraddeen Yakubu Shuaibu (Kano) Despite dry season harvest across the North, prices of grains, particularly paddy, maize and wheat, have been volatile across the country. News of subsidy removal has further heightened the instability in the grain business. Our correspondents across the states said prices were so unpredictable that within one week, it had risen and fallen in the supply and demand curve of many commodities, including vegetables. In Agyuaragu and Doma markets in Nasarawa State, for example, 100kg of paddy rose from N37,000 to N43,000 last week, while maize rose from N28,000 to N31,000. In Taraba, a state that offers cheaper grains, our correspondent gathered that a100kg bag of paddy rice has gone from N19,000 to N30,000, a 100kg bag of maize sold at the rate of N19,000 and N20,000 before the increase in the price of petrol, is now at the rate of N28,000. Further ...

Source: Daily Trust (ng)