# Maize, sorghum prices fall 21% after millers suspend purchase - Businessday NG

> Nigerian feed producers suspended maize and sorghum purchases from farmers, and prices subsequently fell about 21% in Kano and Yobe markets as hoarders released stock. Food inflation in Nigeria is high, and the article notes further declines are expected.

- Date: 2024-02-19 · published 2024-02-19T12:00:00.000Z
- Category: trade · region Nigeria · magnitude low
- Page: https://feedsoft.ai/events/31726-maize-sorghum-prices-fall-21-after-millers-suspend-purchase-businessday-ng
- Commodities: [Sorghum](https://feedsoft.ai/c/SORGHUM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

The local price drop reflects a temporary demand withdrawal in Nigeria's feed sector, a regional rather than global price driver for these grains.

## Read by commodity

- CORN: bearish ▼
- SORGHUM: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-02-22 | [Premier Feed Mills Nigeria suspends maize, sorghum purchases on high prices  - Milling Middle East & Africa Magazine - No.1 Grains Industry Magazine & Website for Africa & the Middle East](https://feedsoft.ai/events/31728-premier-feed-mills-nigeria-suspends-maize-sorghum-purchases-on-high-prices.md) | -1.0% | +6.0% |
| CORN | 2022-06-22 | [Chinese Farmers Bought More US Sorghum in May Amid Wheat, Corn Price Hikes](https://feedsoft.ai/events/40987-chinese-farmers-bought-more-us-sorghum-in-may-amid-wheat-corn-price-hikes.md) | +1.4% | -9.8% |
| CORN | 2018-06-26 | [Grain and oilseed prices fall amid trade uncertainty \| 2018-06-26  \| Food Business News](https://feedsoft.ai/events/8581-grain-and-oilseed-prices-fall-amid-trade-uncertainty-2018-06-26-food-business.md) | -2.3% | -3.5% |
| CORN | 2023-04-24 | [US corn falls after China cancels purchases; drags wheat, soy lower](https://feedsoft.ai/events/10358-us-corn-falls-after-china-cancels-purchases-drags-wheat-soy-lower.md) | -0.7% | -9.9% |
| CORN | 2026-03-17 | [Chicago soybeans fall - Markets - Business Recorder](https://feedsoft.ai/events/5794-chicago-soybeans-fall-markets-business-recorder.md) | +1.4% | -1.4% |

## Sources

- businessday.ng: https://businessday.ng/agriculture/article/maize-sorghum-prices-fall-21-after-millers-suspend-purchase/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.