Traders and consumers in Benue State are witnessing a significant drop in foodstuff prices across major markets, according to local reports. The price crash, particularly for staples like yam, maize, rice, and vegetables, has been attributed to increased supply from recent harvests and improved distribution networks.
The Punch reports that markets such as Markudi Main Market, Wurukum Market, and Tse-Kucha are experiencing notable declines in prices. A trader at Wurukum Market noted, “The price of a bag of yam has dropped from N25,000 to about N18,000. This is good news for both sellers and buyers.”
Consumers have welcomed the development, as the reduced prices make essential food items more affordable. Local authorities have commended farmers and market associations for ensuring steady supply, especially as the state braces for the festive season when demand typically rises.
Economic analysts caution that while the price drop is beneficial for consumers, it could affect farmers’ income if the decline persists, urging stakeholders to strike a balance between affordability and sustainable agricultural profits.
Benue State, often referred to as the “Food Basket of the Nation,” relies heavily on agriculture, and these developments highlight the state’s critical role in national food security.
Sources
The Punch — market price reports and trader comments
Vanguard Nigeria — agricultural supply insights
Channels TV — consumer reactions and market trends
Daily Trust — expert commentary on economic impact
