The Dawanau International Grains Market Association has pledged to ensure the stability of prices of foodstuff, especially local rice, sugar, and noodles ahead of the Ramadan fast.
The President of the Association, Alhaji Muttaka Isa, made a pledge shortly after the State Anti-graft Agency Sealed about ten warehouses in the market over alleged hoarding of foodstuff in the market.
He lamented the rising prices of commodities being recorded in the market “is not arbitrarily done by our members. This development is brought about by the manufacturing companies. And we suggested measures to address the situation at hand.”
He assured the residents of maintaining and crashing the prices of the stocks at hand against the skyrocketing prices being experienced in the market before the fasting period which is expected to commence on March 11th, 2024.
He pointed out that the decision to slash the prices was to also boost sales as dealers in the International market had been lamenting low patronage for some time now.
“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.
”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,” Muttaka said.
He also disclosed that a bag of soya beans now sells for N65,000 as against N68,000 before, while a bag of sesame seed which used to sell for N225,000 now costs N220,000.
The President has also revealed that about 85 percent of the foodstuff supplied for Internally Displaced Persons, IDPs camps across Nigeria and beyond is supplied from the market.
Muttaka further explained that the Dawanau grain market also provides about 85 percent of the foodstuff supplied for the World Food Programme in Nigeria, the Economic Community of West Africa (ECOWAS).
“This market is very big and operates beyond imagination. I can tell you that this world food program, we provide 80 to 85 percent of the foodstuff supplied for IDPsIDPps across Nigeria,” he said.
The President encouraged Nigerians to engage in the exportation of cash crops such as sesame, hibiscus, and groundnuts among others.
Ahmad Sorondinki in Kano
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