By Williams Anuku Abuja
The National Food Security Council has said bulk purchase of food commodities to distribute as Covid-19 palliatives is part of the factors responsible for rising costs in the country.
Governor of Jigawa state, Abubakar Badaru, who represents the North West in the Council, made the observation after a meeting at the presidential villa, Abuja on Tuesday, where he assured that the situation will soon change as harvest season has begun and more commodities are arriving at the markets.
He pointed out that the Coalition Against Covid-19 (CACOVID), the federal and state governments were all involved in the bulk purchase of food items to distribute as coronavirus palliatives leading to increased costs.
Responding to a question, he said: “Let me explain further on the prices of food crops. You will not see it (drop in prices) immediately living in the cities, living in Abuja. You will not see the price drop immediately because there is always transition between drop in the price and on the counter price dropping.
“Prices started dropping at the local markets. It has to be bought, it has to be transported. If you have a exiting stock you will not lose money and drop the price. They will wait until they have exhausted the stock or there is a lot of the produce in the market, then they will be forced to drop the prices.
“So, the crops have started coming up, getting cheaper. It’s being transported and it takes time, depending on how fast the stocks are and how fast the traders are bringing the cheaper stock into the market before you will see that final drop.
“I’m sure if you go out now, you will see the drop. But I’m worried about people talking about expensive food, this is a cycle. For all of us that understand farming cycle, we know that May, June, July always produce, food get expensive because all the stock have started going down.
“And even the farmers that keep some to consume have probably exhausted and have to go to the market and buy. So, the demand is becoming higher.