According to the findings, the price of a 100kg bag of maize dropped from N17,500 to between N14,000 and N15,000.
A 100kg bag of paddy rice, for example, was reduced from N17,000 to N14,000.
Further research indicated that a 100kg bag of locally processed rice now costs N48,000 in Nigeria.
Following a rise in the price of diesel, which is now sold at N950 per liter in the state, prices of the commodity collapsed as a result of the absence of grain merchants.
It was also learned that an increase in transportation costs has deterred many merchants from visiting the state to purchase wheat.
As a result of the increase in the price of diesel, a trailer-load of corn that used to cost between N750,000 and N900,000 to Abuja and the eastern portion of the country has increased to between N1 million and N1.2 million.
Similarly, attacks by the Indigenous People of Biafra (IPOB) militants on trailer drivers in southeastern states prohibited grain merchants from that area of the country from arriving to buy grains in the state.
Farmers have taken out their stocks of product to the market following the start of the growing season, according to other factors that caused the price of maize to plummet.
“We need money to start the farming season, therefore most farmers took their products out to the market,” said Falalu Suleiman, a farmer.
Farmers used to bring their commodities to the market at the start of the farming season to sell and obtain money for farming activities, according to Suleiman.
As a result of the big crop experienced by dry seasoning farmers, the price of both paddy rice and the locally processed type has dropped to N14,000 and N15,000.
Newly harvested paddy rice from irrigation farms including Karim-Lamido, Sheka, Gassol, and Didango has inundated grain markets across the state, causing paddy and locally processed rice prices to plummet.
On Sunday, Gambo Muhammed, a dry season farmer in Zip, told Daily Trust that dry season farmers were harvesting their rice and had had a bountiful yield.
He claimed that the area had previously been a target of banditry, but that it was now safe, allowing farmers to reach their farms and gather their harvests.
Findings from grain markets in Maihula,Mutum Biyu, Garba-Chede and Iware revealed that there were many stores loaded with maize but no buyers, forcing the price down.
Nuhu Dauda, a middleman, claimed he acquired over 3,000 bags of maize for N18,000 each bag a few months ago in the hopes of making a profit, but the price dropped to N14,000 and N15,000.
“What’s concerning is that we have thousands of bags of maize in our stores, but there are no customers, and the price is likely to fall even lower,” he said.