Eid el kabir: Prices of rams crash amidst high influx, low patronage
Ahead of the Eid el kabir celebration rams dealers in Niger state have expressed concern over low patronage despite crash in prices of the animals.
There was noticeable proliferation of makeshift markets all over Minna town with dealers taking over available spaces especially around major streets in a bid to attract customers.
The state normally witnessed influx of dealers from Niger Republic and other states in North West Nigeria each year whenever the Eid el Kabir draws closer.
Main dealers, who are based in the state, complained that the trade attracted more people especially from outside the state this year.
According to the Wakilin Sarkin Turken Minna, Alhaji Sabo Mohammed, the influx has considerably forced down the prices of animals this year unlike what obtained in 2018.
``A ram we sold last year at the cost of N30,000 is presently selling at N25, 000 or N26, 000 while those which go for N40, 000 the previous year now sells at just N35,000,” he said.
Speaking further, he pointed out that the costliest ram in the market this year was sold at N120,000 unlike last year when a ram of its type was sold at the rate of N170,000.
He lamented that the drop in the prices does not translate to higher patronage as the law of demand and supply envisaged, adding that with the way the situation is going a lot of them may not break even intems of the anticipated profit.
He attributed the low patronage amidst low prices to lack of money in circulation.
Also, a local dealer in Bosso market within the state capital, Malam Abdullahi Usman agreed that the economic situation in the country has adversely affected the livestock market, while expressing the fears that many Muslims may not be able to perform the important rites.
“One cannot compare last year’s market situations and this year’s both in terms of prices and that of patronage, very few people visits our shades,” he said.
According to him, aside the influx of merchants from the North western part of the country and the Republic of Niger, local breeders from within the state also posed serious threat to the expected returns major dealers anticipated and also contributed to the fall in prices.