Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Economy Research Analysis

Prices of vegetable oil drop in latest Household Food Price Survey

Research TeambyResearch Team
5 years ago
in Research Analysis, Spotlight
Household food item
Share on FacebookShare on TwitterShare on Linkedin

Nairametrics Research on Household Food Items conducted from major markets in Lagos State reveals a general decrease in prices for the week ended June 2, 2018.

Our composite Household basket was ₦332,980 compared to ₦334,180 for the period ended May 19, 2018. This is also one of the highest basket prices we have recorded in recent weeks. Data from the survey reveals a general price decrease of about 0.36% 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 78 items on our price list.
  • 5L Gallons of Kings Vegetable Oil dropped from  ₦2,900 to ₦2,500.
  • 3L of Power Vegetable Oil reduced to ₦2400 from ₦2000 in the last period.
  • 3.8L of Mamador Vegetable Oil reduced to ₦2100 from ₦3000.
  • 5L of Wesson Vegetable Oil dropped from ₦4500 to ₦4000.
  • A Basket of Tomatoes (Round Shaped) increased again from  ₦7,000 to ₦7,500 compared to ₦2,700 in our base period.
  • Oval Shaped Tomatoes increased from ₦5,500 (since December 2017) to ₦6000.
  • Palm Oil prices are still  ₦12,200 from the ₦14,200 recorded in our base period.
  • Gas Refill (5kg) remained the same at ₦1,700 since December 2017. 5kg sold for  ₦2,400 in our base period.

Key Takeaways

  • There was a general decrease in the prices of all vegetable oil on our survey list.
  • However, the increment is seasonal and therefore, may not be sustainable.
  • Round Shaped Tomatoes increased again by  ₦500 jumping from ₦7,000 to ₦7,500 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 id=388]

Related

Tags: Food item pricesFood PricesHousehold FoodKings Vegetable OilOn the MoneyResearch DataTables

Leave a Reply Cancel reply

HFM
Mega Millions
Mega Millions
Standard
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Emefiele replies Kano State Governor, says he doesn’t understand connection between cash swap and security issue
  • 9 people including children killed as container falls on a bus at Ojuelegba, Lagos
  • Currency Swap Deadline: CPPE says 10-day extension is inadequate

Follow us on social media:

Recent News

Emefiele replies Kano State Governor, says he doesn’t understand relationship between naira redesign and security issues

Emefiele replies Kano State Governor, says he doesn’t understand connection between cash swap and security issue

January 29, 2023
9 people including children killed as container falls on a bus at Ojuelegba, Lagos

9 people including children killed as container falls on a bus at Ojuelegba, Lagos

January 29, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds

© 2023 Nairametrics