The lastest Nairametrics household survey has revealed that the prices of most food items across major Markets in Lagos have not recorded significant changes in the last two weeks. However, the findings show that the price of tomatoes reduced slightly by 22%, with a basket of tomatoes now selling for N14,000 as against N18,000 two weeks ago.
Note that while the price reduction is a good development, there is still a huge difference between the current price and how much tomatoes were sold for two months ago. Recall that in April, Nairametrics reported that a big basket of tomatoes was sold for just N8,000.
The results obtained show commodities that are relatively the same across markets and those that are significantly different. It also reveals insight as obtained from our interviews. Hence, this report highlights selected Lagos markets where certain food items are relatively cheaper.
Goods with Relatively the same price: Items such as milk (Tin and refilled), beverages, gas, egg, and fish are sold at relatively the same price across the markets. Basically, peak milk (refill 500g) is sold at an average price of N1,000 while Milo tin (500g) is sold at an average cost of N1,050.
A crate of eggs is sold at an average price of N975, although Mushin Market, Oyingbo and Mile 12 markets sell a crate of eggs for N1000, while Daleko Market sells the cheapest for N900.
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Also, the filling of a 5kg gas cylinder costs N1,688 on the average, even as Daleko, Oyingbo and Mile 12 markets sell it for N1,700 while Mushin market sells it cheapest for N1,650. 12.5kg of the gas is filled at an average price of N4,163.
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Goods with Relative difference in price: Although Mile 12 goods are getting closer to selling local oil as cheap as Daleko market, Daleko market still proves to be the one stop place for the purchase of cheap products such as rice, beans, garri, palm oil and local vegetable oil.
A bag of 50kg Royal Stallion rice is sold for N14,000 in Mushin market, N13,500 in Daleko market, N14,500 in Oyingbo market while mile 12 market sells it N15,000.
Beans (Oloyin) is sold for N16,000 in both Mushin market and Oyingbo market. However, the food item is sold highest in Mile 12 market for N18,000 while Daleko market sells cheapest at N14,500.
Prices of tomato affected by rainfall: Nairametrics Research interviewed markets sellers and buyers to better understand the cause of the frequent changes in the price of some specific household commodities; specifically tomatoes. According to a major tomato dealer named Yahaya Daudu, Northern Nigeria is currently experiencing rainfall. He attributed this to be the cause of the increase in the price of tomatoes in recent weeks.
“Due to the current rain in the north, farmers stopped planting tomatoes as rain spoils the tomato plantations, instead, they channel our attention to more rain friendly crops such as; corn, union, Guinea corn, beans, rice, etc.”
On imported rice price hike: A major dealer in rice and melon (Mr. Chuks), attributed the price fluctuations in rice to the exploitations by law enforcement agencies such as the Nigerian Customs. According to Chuks, rice produced and packed in Thailand is sold for an average price rate of N7,000 at the Cotonou border, but the tariffs placed by the customs on the importation of each bag causes the price to hike up to its current state.
He also opined that the Government should do something about the tariffs placed on goods such as melon which currently sells for over a hundred thousand Naira (N100,000) per bag.
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.