A visit to Dawanau grains market, one of the largest produce markets in West Africa, revealed that it was flooded with new wheat, a situation that crashed the price of the commodity 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.
Malam Mahe Waziri, a wheat farmer at Bagwai irrigation site in Kano, said the farmers thought the bumper harvest would put smiles on their faces but regretted that the market price wasn’t favourable.
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.
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