The Pugu Market is experiencing oversupply of goats as keepers are selling their stocks to raise funds to meet obligations of the beginning of the year.The market since the beginning of this month has been receiving an average of three trucks of five tonnes each carrying about 150 goats while the market is struggling to auction the old stock.
The phenomenon, animal brokers said, help to push down prices of goats at the market that has climbed to all time high level during Christmas and New Year festivals.
Pugu’s goat broker, William Mwalyema told the ‘Daily News’ yesterday that the market is currently facing a challenge of selling the old stock procured at the high price while fresh relative low price supply continue to arrive.
“Goats have glutted the market,” Mr Mwalyema said, “it’s bad for those with old stock, but it’s good as the prices are going to subdue at the near future — before month end.”
The prices have climbed for grade one goat to between 160,000/- and 200,000/- in December from equilibrium level of 100,000/- and 160,000/-.
While for lower grade the prices jumped to between 60,000/- and 120,000/- at festival season from 35,000/- and 70,000/- of normal market prices.
“The prices are declining fast trying to find their equilibrium levels…are going down by almost 10,000/- to 20,000/- after every five days”.
He also said ‘nyama choma’ customers were looking for a goat with fat layers which prove to be difficult to find because of the greenish following ongoing rains.
“This has proved to be a challenge but those type of goats are fetching good prices,” Mr Mwalyema, a long time goat dealer at Pugu, said.
Pugu is the main goat supply market which receives around 300 goats a week at a normal supply. But the supply several times jumped to 400 animals.
Source: Daily News, reported from Dar es Salaam, Tanzania
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