Farmers in Katsina State have attributed the continued hike in the prices of farm produce to the resumption of hoarding activities after government ruled out the importation of food items.
It was reported in the media last December how the reopening of land borders to some extent halted hoarding activities in the state, based on the assumption that government may resume food importation to cushion the effect of the COVID-19 pandemic on the economy.
Grain dealers said after studying government’s attitude on the recent border reopening, merchants resumed mopping up produce like millet, maize, beans, sorghum and soybeans to maximise profit, targeting the next Muslim fasting period, upwards.
Muhammadu Bature, a dealer at Funtua market in Katsina State said one would not predict the cost of food items in the next fasting period.
“A bag of millet that was sold at N17,000 a month ago is now N21,500. This is as a result of how merchants are stockpiling it to make huge profit in the forthcoming fasting period. It is frightening that a bag of beans was sold at N28,000 in January. What will be the price in May and August if the trend continues?”
Bature, however, added that to mitigate the escalating threat on food security, government must take a decisive action on banditry and kidnapping, which are threatening farming in the North.
Our reporter, who went round Dandume, Funtua and Sheme markets, observed that 100kg of maize that was sold at N16,000 in December now costs N19,200 and soybeans is sold at N25,000 as against N17,000 a month ago.
Similarly, sorghum now sells at N18,000 as against N14,500 last December.
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