YOBE MARKETS RECORDS SHARP DROP IN GRAIN PRICES AS JANUARY ENDS
28-01-25
By Sadiq Aminu A general price survey of food markets across Yobe State has revealed a significant decline in the cost of grains as January 2025 comes to a close.
This trend is a notable departure from previous years, where inflation typically surged between January and May, months away from the end of the rain-fed farming season, often resulting in a 200% increase in grain prices compared to harvest time.
In stark contrast to the 2023/2024 period when the price of a bag of beans skyrocketed to between ₦180,000 and ₦220,000, forcing retailers to sell a measure of beans for as much as ₦5,000, current market prices show a significant decrease. A bag of beans now sells for between ₦95,000 and ₦100,000 across Yobe markets.
Other grains have also experienced substantial price reductions. Sorghum, which sold for ₦80,000 to ₦88,000 last year, is now priced between ₦45,000 and ₦53,000. Millet, which was significantly more expensive just months ago, now sells for ₦55,000 to ₦57,000. Even maize, which was selling for ₦65,000 in December 2024, has seen a price drop to ₦57,000.
In addition to these staples, other products including peanuts, sesame, zobo, onions, and rice, have also recorded sharp price decreases, bringing some relief to consumers across the state.
The reason for this price decrease has not been stated. However, the decrease will likely come as a welcome development for households who have been struggling with the cost of food in recent months.