Wow! Bag Of Rice Reduces In Price As Cost Of Food Items Crash In Kano Market – See New Details

The outrageously high price of rice has been reduced following the crash in market prices in Kano.
The prices of food items are now coming down following the arrival of new harvests at Kano markets.

According to Vanguard, a bag of rice now sells for N17,500 as against previous price of N19,000 and above.
A survey at some markets in the state revealed that prices of some grains have drastically reduced but rice, still experiencing high demand, remains costly but with slight drop in price.
A bag of maize is now selling for N10,000 as against N13, 000 it sold last month, while a measure cost N357, down from between N470 and N500 previously.
Price of a measure of millet has equally dropped from N360 to about N250. 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 newsmen, 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. He said that when people don’t produce but consume more, “there is bound to be food shortage and the economy will become weak’’.

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