Home FEATURED Round Shaped Tomatoes prices rise sharply in latest Household Food Price Survey

Round Shaped Tomatoes prices rise sharply in latest Household Food Price Survey

-

Nairametrics Research on Household Food Items conducted from major markets in Lagos State reveals a general increase in prices for the week ended May 5, 2018.

Our composite Household basket was  ₦332,580 compared to  ₦329, 680 for the period ended April 21st, 2018. This is also one of the highest basket prices we have recorded in recent weeks.  Data from the survey reveals a general price increase of about 0.01% from the last period.

Nairametrics Household Food Index tracks prices from Daleko, Iddo, Ago Ishaga, Ojuiwoye, Idi Oro and Aguda Market.

Price changes

  • There were no noticeable price changes for about 82 items on our price list
  • We only recorded a price drop for 1 item on the list, which was Egg (Crate).
  • A crate of eggs dropped from  ₦1100 to  ₦1,000 in the period under review.
  • A Basket of Tomatoes (Round Shaped) increased sharply from  ₦4,000 to  ₦7,000 compared to  ₦2,700 in our base period.
  • Round Shaped Tomato prices are now very high while those of Oval Shaped Tomatoes still remain the same at  ₦5,500, since December 2017.
  • Palm Oil prices are still  ₦12,200 from the  ₦14,200 recorded in our base period.
  • Gas Refill (5kg) has remained the same at  ₦1,700 since December 2017. This same 5kg sold for  ₦2,400 in our base period.

Key Takeaways

  • Round Shaped Tomatoes surprisingly increased by  ₦3000 jumping from  ₦4,000 to  ₦7000 in a space of 2 weeks.
  • Information from various locations reveals most food prices have remained either stable or dropping since the last quarter of 2017.
  • Most market women attribute this drop to better harvest season last year and that they have not had shortages of food items.
  • The last increase in the pump price of fuel has had marginal effects albeit for some food items but not enough to cause a jolt in prices since then.
  • Of all prices, we have seen a general price drop for items such as yam, potato, garri and rice from our base period.
  • Since these are the staple food items mostly consumed by Lagosians nay Nigerians, then, it is a cheering development.

See table below

wpDataTable with provided ID not found!

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Coronation Research

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Popular

Understanding Mutual Fund Fees

INSIGHT: Why you really should consider investing in mutual fund today

A Mutual Fund is a Trust or Company that pools money from many investors and invests in a specified class of securities such as stocks, bonds, real estate or a balanced mix of asset classes.
Ellah Lakes appoints new Managing Director, Ellah Lakes appoints Chuka Mordi, Ellah Lakes acquires Telluria Limited, Nigerian Stock Exchange NSE

NSE has placed these 34 companies on red alert

Authorities of the Nigerian Stock Exchange (NSE) has placed red alerts on some 34 quoted companies as a disciplinary measure for breaching some of its extant rules.
Mile 2 Road

Why Lagos is closing Mile-2 Road inward Tin Can Island for 48 hours

Mile 2 road inward Tin Can Island ports corridor will be closed by the Lagos State Government (@followlasg) for 48 hours, the Permanent Secretary of the Ministry of Transportation, Taiwo Salaam has revealed.