Eid-el-Fitr celebration may be over, but the price of tomatoes shows no sign of decline as it keeps snowballing. According to Nairametrics’ House-Hold Survey carried out last week Thursday across major markets in Lagos State, a big basket of tomatoes now sells for N18,000, up from N10,000 reported two weeks earlier. This represents 80% price hike in prices of tomatoes.
The report also shows that a small basket of tomatoes now sells for N7,000 as against N3,500 reported two weeks prior. This indicates a further 100% increase.
Meanwhile, there was a significant decrease in the price of brown beans compared to what was observed two weeks earlier. Specifically, a bag of brown beans now sells at an average price of N13,875 across the four major markets in Lagos namely Mushin, Oyingbo, and Mile 12 sells at N14,000. Daleko sells for N13,500.
The report shows the markets with relatively the same price, Varying price and insight obtained from the markets.
Relatively the same price
Items such as Peak milk, Dano milk, vegetable oil, Palm oil, Beverages, St’ Loius Sugar, Chivita, Egg, Fish, Gas and pasta are sold for relatively the same price.
The four markets sell a pack of Golden penny and Dangote pasta at N200, 5 litres of palm oil and vegetable oil is being sold for the same amount across the four markets at N1,800 and N2,000 respectively.
Also, a gallon of Palm oil (5 litres) is sold for the same price across the four markets for N1,800, although the 25 litres gallon varies slightly as Daleko sells the cheapest at N8600, followed by Mushin for N8,800 then Oyingbo market for N8,900, while Mile 12 market sells the highest at N9,000. The same trend played in regards to the price of local vegetable oil across the four markets.
The relative difference in price; Daleko sells cheapest
Across the markets, there is a wide disparity between prices of the grain such as Royal stallion rice. Specifically, Stallion rice (50kg) sells for N13,000 at Daleko market, N14,500 at Oyingbo market while Mushin and Mile 12 markets sell for N14,000.
Beans (Oloyin) was sold the cheapest at Daleko market for N14,500 while Oyingbo market sells the highest at N16,500, although Mushin and Mile 12 markets sell for 16,000. On the other hand, Brown beans recorded a significant drop in the price as Daleko sells a bag for 13,500 while the other three markets sell for N14,000.
The beans sellers at Mile 12 market sell two types of beans. According to the sellers, the normal one sells for N14,000, while the other type known as iron beans currently sells for N26,000.
Bottom Line: It should be noted that the frequent rise in the price of tomatoes is largely due to the rainy season, as constant rainfall reduces the availability of fresh tomato because the crop does not thrive during the wet season.
Meanwhile, traders across the four markets are excited over the drop in price of beans, while some major beans traders disclosed that consumers now buy higher quantity. To purchase items such as rice, Beans, Garri, Vegetable Oil and Palm Oil, Daleko is the market with the cheapest price.
About Nairametrics Food Price Survey: The Nairametrics’ Food Price Watch is a bi-weekly household market survey the covers prices of major food items, with emphasis laid on four (4) major markets in Lagos State: Mushin Market, Daleko Market, Oyingbo Market, and Mile 12.
See table below:
