₦airaland Forum

Hoarders, investors, traders or whatever the name need to understands the nature of business, it comes and goes, profits and losses is the name.

They should hope that the losses isn't more than the profits but in this cases the losses seems to be winning however, there are days, weeks, months and probably years prior to this where they had mad profits and still didn't say a word but now that the tide is against them-the lamentations is at the rooftop, hard luck...

simpleseyi:
These people and money shaaa

U want to make it a tribal thing.

Storage of food started long ago and it is pronounced in the north and it is the biggest business in the country today.

I have beans that I cant finish in the next one and half year in my house here in Abuja.
Last year,an Edo woman in beans market Nasarawa state stored beans worth one hundred million naira and the hausa boy who connected her to the market in Kaduna state bought a latest iphone.

There is one Sherif on nairaland here,he is the major supplier of most agricultural produce from both the west,east and south and south. He is even the one advising them which product to store and not to store due to its demand and supply chains and many other factors.

So,it shouldn't be a tribal thing but an economic factors...didn't u read economics in school. When the system is porous,it opens up room for hoarders,racketeers and all sorts.

Finally,it is a Nigerian thing.

zero8zero:
Greedy Nigerians but the President is always the scape goat, blame FG even for the greed of the traders. You hoard foods just for the purpose of hiking the price in the future, yet Nigerians insults the Government over artificial high food prices. It is only in Nigeria that prices come down and they will refuse to lower price, when fuel comes down, transporters refuse to lower price. Even in the North, some traders are angry food prices are crashing. Enemies of the state.

You obviously don't know anything about trading.

Traders stock up when goods are at the cheapest ( reason) and sell out when prices rise (out of season)
It has nothing to do with failure of FG.

The loss here is because they stocked up when goods was skyrocketing and unstable due FG incompetency.

Lanruze:
Keep quiet there !

You posted the story still ran to comment section to comment ?

The difference of N160k to N140k is the loss. N20k per bag is the loss worth the long epistle ?

How much was Beans post- Tinubu era and who told you that food prices were not directly impacted with the removal of PMS subsidy ?

Mind yourself this morning ooo.

How much profit do you think they make that you see a 12.5% drop as nothing? Are you normal at all?

PresidObi:
The ewu that wrote the above piece doesn't know that traders has mastered the art of seasonal price fluctuations which they experience yearly since 1900

Nobody will lose a dime, you just load up on the cheap new stock and add your price and sell, as the seasons turn the other stock will rise and you start selling the costly ones at high prices.

They experience this every year, but propaganda mills will write nonsense to sell their bigotry.

People pump rubbish news according to their hateful expectations and go back to laugh at their idiocy.

Mr Man it's true people are losing big time to storage of food stuffs.
Even in the Northern part that is home of food.
They are losing millions because of reductions in prices.

PresidObi:
With this write up, you expose your ignoramus standards

Seasonal price changes happen every year, as new harvest happens, things will become a little cheaper, until the next planting season when the new harvest will be getting dried up by demands. Go back and read your economic textbooks, demand and supply dictate prices, and not greed. Traders are experts with demand and supply seasons, and they flow with the tide, and swim in profits regardless of anything you think.

Cob-web theory comes to my mind.

TallNigerian:
You are thieves and deserve all the losses and more. God will continue to punish all of you. Greedy merchants and middlemen. Senseless hoarders.

Every part of the bolded statement reeks of enormous greed, selfishness, wickedness and any other name evil assumes.

Imagine what they said , that under normal circumstances they are supposed to be shortages of food stuff at this period.
It clearly shows their mindset is programmed for negativity.

Ag.bado 🤡 will ignore the fact the mandator has wrecked the economy and be blaming beans sellers for trying to maximize gains
You can't make this up

Beans
Beans
Beans

Doing wonders since 350 BCE

zero8zero:
Greedy Nigerians but the President is always the scape goat, blame FG even for the greed of the traders. You hoard foods just for the purpose of hiking the price in the future, yet Nigerians insults the Government over artificial high food prices. It is only in Nigeria that prices come down and they will refuse to lower price, when fuel comes down, transporters refuse to lower price. Even in the North, some traders are angry food prices are crashing. Enemies of the state.

This your emotional outburst is not necessary.

ledaman:
Imagine what they said , that under normal circumstances they are supposed to be shortages of food stuff at this period.
It clearly shows their mindset is programmed for negativity.

It only shows that they like most normal people studied the market and hoped to recoup their investment
Okay this one pass you?
No yawa
Just wait for update from the Apcheat Whatsapp group

ledaman:
Mr Man it's true people are losing big time to storage of food stuffs.
Even in the Northern part that is home of food.
They are losing millions because of reductions in prices.

Then you have never sold foodstuffs in your life.

LZAA:
It only shows that they like most normal people studied the market and hoped to recoup their investment
Okay this one pass you?
No yawa
Just wait for update from the Apcheat Whatsapp group

Some people have really been deformed by APC propaganda. I think the only thing fuelling their belief of nonsense is their hate.

PresidObi:
Then you have never sold foodstuffs in your life.

Mr Man
They are lamenting bitterly.
I don't need to sell to know the status quo of the business.

Have said it severally. Most Nigerians are devil incarnates. They are more wicked than devil himself. I have always said it. I don't have hope in this country one bit.....

zero8zero:
Greedy Nigerians but the President is always the scape goat, blame FG even for the greed of the traders. You hoard foods just for the purpose of hiking the price in the future, yet Nigerians insults the Government over artificial high food prices. It is only in Nigeria that prices come down and they will refuse to lower price, when fuel comes down, transporters refuse to lower price. Even in the North, some traders are angry food prices are crashing. Enemies of the state.

ledaman:
Mr Man
They are lamenting bitterly.
I don't need to sell to know the status quo of the business.

There is no lament anywhere. This is just propaganda writing, stop believing nonsense.

zero8zero:
https://thewhistler.ng/enugu-traders-count-losses-as-beans-prices-crash/amp/

These middle men are the major cause of high cost of things in Nigeria. Too many middle retailers.

With this few points of yours na you no normal my brother

Answer the simple question how much was a bag of Beans post- PBAT era ?

DeOTR:
How much profit do you think they make that you see a 12.5% drop as nothing? Are you normal at all?

PresidObi:
There is no lament anywhere. This is just propaganda writing, stop believing nonsense.

Stop writing what you don't idea about.
I can send you numbers of people into such business lamenting over their loss.
I don't write based on sentiment of stupid emotions.

dawnomike:
Investors or hoarders...?

It's almost the same na... Said almost for a reason....

What do you call acquiring a property like land and gold because of future appreciation?

Like this ancestor has discovered... All these "definitions of convenience" would never change reality...

Calling someone Mallam or Aboki na abuse but it's true meaning no be abuse... That's just the reality of things...

Sharpsharp00123:
typical Igbo

Even if tinubu drop it below the price he met it in 2023 they will still tell him to take it to 1960

Typical Ronuuus

Greedy people, you're going to lose more money keep hoarding as the price will keep crashing.

zero8zero:
https://thewhistler.ng/enugu-traders-count-losses-as-beans-prices-crash/amp/

PresidObi:
There is no lament anywhere. This is just propaganda writing, stop believing nonsense.

You need deliverance

Good development. Ending open grazing across Nigeria, especially southern Nigeria, will lead to bountiful harvest and reduce cost of food.

If you want to sell cows, get a land, fence it and keep your cows there, it is a private business like every other business. Stop using your business to disturb others.

15 years imprisonment for anyone caught grazing openly, with minimum of N50million compensation to the affected farmers across southern Nigeria now. Our wealth is in our lands, the benefits of outlawing open grazing greatly outweighs anything else. First and foremost we are protecting the lives of our people, and creating wealth via our land/agriculture.

ledaman:
Stop writing what you don't idea about.
I can send you numbers of people into such business lamenting over their loss.
I don't write based on sentiment of stupid emotions.

Stop believing nonsense.

dederocs:
Good development. Ending open grazing across Nigeria, especially southern Nigeria, will lead to bountiful harvest and reduce cost of food.

If you want to sell cows, get a land, fence it and keep your cows there, it is a private business like every other business. Stop using your business to disturb others.

15 years imprisonment for anyone caught grazing openly, with minimum of N50million compensation to the affected farmers across southern Nigeria now. Our wealth is in our lands, the benefits of outlawing open grazing greatly outweighs anything else. First and foremost we are protecting the lives of our people, and creating wealth via our land/agriculture.

True.

All of you whose intent is to make life harder for Nigerians in the name of doing business will continue to make loses upon loses!

Lanruze:
With this few points of yours na you no normal my brother

Answer the simple question how much was a bag of Beans post- PBAT era ?

I didn't know FG now sells beans.
Maybe you should tell us the price pre-independence.

hartson:
Dont mind him.Pressure pot go cook nonsense comot for the beans bodi in less than 5mins

Abeg which one be pressure pot again? Omo, knowledge and information good o!

Wow!

zero8zero:
Enugu traders who stored beans for appreciation in the first quarter of this year are counting their losses following the crash in the prices of the essential commodity.

According to them, a bag of 100kg of beans they purchased for around N160,000 last year now sells at N140,000 in some markets.

Mrs Onyinye Ozioko sells beans at the New Market in Enugu. She said this year was the worst ever in her business.

In her words, “I stored 10 bags of 50kg beans. In the past years, the profits could be around 60% or more. I never thought about losses at all. Today, I am losing a lot per bag, and it is still counting. And this does not include the cost of transportation.”

Stephen Ogbu sells food items at Ogbete Main Market, Enugu. According to him, the crash in the price of beans is affecting his business adversely.

Quoting him, “Some of us borrowed to invest in bean storage. But look at where we have landed ourselves! I retail my own at huge losses. The problem with beans is that they can’t be stored beyond one year; otherwise, they will perish. This is the first time this kind of thing has happened in recent years.”

He attributed the fall to the flooding of beans from the North to eastern markets “rather prematurely”.

In his words, “While we are still planting due to delayed rainfalls in this part of the country, some parts of the North are already harvesting beans. The implication is that they began to supply their products when we were still planting. Under normal circumstances, we should be experiencing food shortages in the eastern parts of this country. We should be bringing our stored beans to the market to make gains. But the reverse is the case. Fresh beans flood the market while our stocked ones are underpriced.”

He said many were being forced to sell off to avoid more losses. “If you don’t sell, be ready to consume your beans or give them as charity. Very soon, they will be attacked by weevils.”

Dr Paulinus Eze is an economist. He called for investments in storage facilities in Enugu State and the entire eastern region. For him, “This is where governments should play key roles. If there were storage facilities, these perishable commodities would have been preserved further. The investors are losing because the longer the delay, the more losses they incur.

“Government agencies could also buy back from the investors at prices commensurate with what they invested. It is a special intervention in a fragile economy to encourage farmers and investors, as the case may be. If traders are discouraged from investing, farmers will suffer. The multiplier effect will be job losses and food insecurity.”
https://thewhistler.ng/enugu-traders-count-losses-as-beans-prices-crash/amp/

The article above further emphasizes the risks in speculative food and commodities arbitraging.

Second, the bolded sections of the post above reveals the greed in a lot of these traders. The man was clearly expecting food items such as his hoarded/stored beans to be expensive at this time of the year so that his fellow Eastern Nigeria or Enugu residents can pay heavily through their nostrils! It serves his greed glands right. He can either choose to sell his beans at a loss after borrowing money to buy the bags of beans or go ahead and eat them up with his immediate family. Period.

dawnomike:
Investors or hoarders...?

So what's the difference between investor and hoarder?