The Jingir Grain Market, located in the Jingir community within Bassa Local Government Area (LGA) of Plateau State, is experiencing a significant drop in the price of maize with the arrival of the new season.
According to reports the introduction of fresh maize into the market has led to a substantial reduction in prices. A 100kg bag of maize is now being sold at a rate of N37,000, marking a remarkable decline in prices compared to previous weeks.
Until recently, maize prices had been relatively high, with a bag selling for as much as N65,000 in the market and even reaching N70,000 in other markets within the state.
Dealers and farmers alike have expressed their satisfaction with the recent price drop, considering it a positive development given the challenging economic circumstances faced by many.
Abubakar Abdullahi, a maize dealer, expressed gratitude for the price decrease, stating:
“We thank God that the price of the produce has come down. It is a good development. We sell a 100kg bag of the new maize at N37,000, while the old one is sold at N50,000.”
Samuel Yusuf, a maize buyer, attributed the price reduction to the increased supply of the new maize.
He said, “As of two weeks ago, if you entered this market, you would not see any grain, which led to the hike in the price of the product. Presently, as we are in the market, the new maize is being supplied, and the price is going down.”
Musa Akans, a farmer who brought his produce to the market, expressed his happiness about the lower maize prices, saying “Honestly, I am happy that the price of maize has reduced. Though I am a farmer, I don’t like a situation where a bag of maize would be sold at N60,000 or N70,000 because everyone is suffering.”
Market stakeholders anticipate that maize prices are likely to continue declining as more farmers harvest their crops in the coming weeks.