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5 Oct 2016

Shocking! Prices of Foodstuffs Crash in Kano...See Details

The end of the harsh economic recession might be near as prices of foodstuffs crashed recently in Kano State leaving many in shock.

Prices of food items are coming down as new harvests reach markets in Kano State.

A survey carried out in some markets in Kano shows that prices of some grains have drastically reduced but that of rice dropped slightly.

A bag of maize is now selling for N10,000 as against N13, 000 it sold in the last month, while a measure cost N357, down from between N470 and N500 sold previously.

A measure of millet which sold for N360 last month now sells for N250.

NAN checks revealed that the price of a bag of rice, which sold for N19,000, is now selling at N17,500 while a measure cost N700. Some consumers, who spoke with NAN, expressed optimism that the prices of food items would crash further before the year ends.

Malam Sani Usman, a consumer, said that the current economic hardship would end when there is massive food production.

Usman explained there was bound to be shortage of food in a situation where consumption was higher than production.

“There will is bound to be food shortage and the economy will become weak,’’ he said.

Another customer, Ibrahim Asim, appealed to traders to desist from hoarding food in attempt to make more profit.

NAN

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