Borders: Farmers sell paddy, fear price drop | Dailytrust

Borders: Farmers sell paddy, fear price drop

Rice farmers in Plateau State have stormed markets to sell paddy rice as they fear a price crash as plans to reopen the borders mount.

The Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed, recently announced a plan which was resisted by farmers.

Daily Trust gathered that some rice farmers hoarded the items targeting a period of excessive demand to make more profit.

Earlier, paddy rice was scarce across markets in the state, but the recent pronouncement of reopening the land borders has become an instant game changer in its supply value chain.

John Abigail, a seasoned rice farmer in Shendam Local Government Area, expressed dismay over the government’s plan to reopen the borders, saying, “Opening the land borders is an unwelcome development. I’d never wanted to sell my paddy now, but for the fear of a possible price crash that may result from reopening the land borders I am forced to sell it up.”

Mukhtar Kaka, also a rice farmer in Namu town of Qua’an Pan LGA, condemned the government’s plan to reopen the borders.

Kaka said, “This is not the right time for it. It has to remain shut for now. I think the government should suspend its decision as reopening the borders would be harmful to Nigeria’s economy.”

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