The price of Beans in Jos Katako Market of Plateau State is high for the past month despite the new harvest. Daily Trust reports.
Our correspondents who visited the Katako market on Monday reports that 100 Kg of beans is sold at N28,000 – N30,000, depending on the type of grain you want.
The Chairman of the market, Alh. Auwalu Nasir said the reason for the high increase in the price was because rich marketers have already bought the beans from the farmers and hoarded to get more profit.
Auwal said they hoard the beans to cover what they have lost last year when the price crashed and had stored thousands of bags in anticipation of gain.
He said the development had resulted in an increase in the price of beans in the state and had given the marketers the advantage of determining the price of the grain in the market.
On when to expect a decline in price, the chairman said, “Maybe when we are deep into the dry season and the new harvest is available everywhere, the price would reduce but there is no certainty on when it would reduce.
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