The price of livestock in Galkayo markets drops down

The prices of livestock across all markets in Mudug region particularly Galkayo, the headquarters of the region has drastically dropped down.

The herders and livestock traders say the decline in the price of livestock is attributed to the increasing number of livestock reaching the markets every day.

One of the livestock traders told Goobjoog FM that the price of livestock normally come down during the rainy seasons as pastoralists get enough pasture and water for their animals hence ready for selling.

The trader estimates that at least 500 herds of livestock mostly goats are sold in the markets compared to the drought seasons where less than 200 herds of livestock were sold on daily bases.

The price of livestock fluctuates from time to time as the federal government of Somalia has not yet put in place measures to regulate the price.

Pastoralism  is a primary production system in Somalia, majority of the people directly or indirectly obtains their livelihood from animals.

On the other hand taxation on livestock exports is the main source of government revenue and funding for the reconstruction of the country particularly devastated government institutions.

Somalia livestock trade involves annual export of more than one million live animals from the main ports in the country.