The latest Household survey carried out by Nairametrics Research showed that some rice dealers in major markets across Lagos State are reportedly packing locally manufactured rice into foreign bags, as prices jump higher.
Recall in the last survey, it was disclosed that after weeks of sustained border closure, Nigerians are now patronizing Made-in-Nigeria rice and other locally produced food items instead of the imported ones.
The latest report further showed that the visited markets now have various brands of locally made rice in large stock, although with a significant 12.9% increase in price, from an initial average of N18,000 to N19,500. Specifically, the available imported rice is now being sold at an average of N26,000.
The household survey reflects the items that increased in price over the past two weeks, items that maintained its initial price, special markets and insights obtained from the various markets.
[READ MORE: Household Survey: Nigerians dump imported rice, others, as prices jump high]`
Items that witnessed price Increase
- The price of a big basket of round tomatoes increased by 6.25% from N8,000 to N8,500.
- A big basket of oval-shaped tomatoes increased from N7,000 to N7,500 representing a 7.14% increase.
- A big sized tuber of Abuja yam is now sold for an average of N825, compared to the N688 it was being sold two weeks ago, indicating a 20% increase.
- Also, a medium-sized Abuja yam is now sold for an average of N613 from an initial N538, representing a 14% increase in price.
- A 50kg bag of Caprice and Royal Stallion rice increased by 2.9%, from an average of N25,500 to N26,250.
- Mama’s Pride rice, a locally grown rice, also increased significantly by 9.7% from an initial average of N18,000 to N19,750.
Items that maintained initial prices
The various kinds of beans still maintained their initial prices reported a fortnight ago, as a 50kg bag of Oloyin beans still sold for an average of N13,750. Also, a 50kg bag of White beans maintained an average of N21,000, while Brown beans of the same quantity sold for an average of N17,250.
- Despite the fluctuation of the price of potatoes in recent weeks, the item has maintained its price for 6 weeks now, as a big basket of sweet potatoes sells for N5,000 while a big basket of Irish potatoes is sold for an average of N20,000.
- Bags of garri still sell for the same amount, as a bag of 80kg Ijebu garri sells for an average of N6,950, a bag of 50kg white garri sells for an average of N5,125 while a bag of 50kg yellow garri sells for N5,250.
- Gallons of locally made palm oil and groundnut oil still sell for the same amount as previously reported. 5 litres and 25 litres of palm oil sell for an average of N1,850 and N9,500 respectively, while gallons of 25 litres and 5 litres of groundnut oil are sold for an average of N10,500 and N1,975 respectively.
- A bunch of plantains still sells for an average of N388.
- A medium basket of round shaped tomatoes maintains its N6,500, while a small basket costs N5,000.
Special Items/Markets
- Mile 12 and Daleko markets sell rice at the cheapest prices in Lagos state, as they both sell locally made rice for N19,500.
- A big bag of Niger beans (Olotu) was reported to cost an average of N20,000 at Daleko market.
- As explained by a seller of potatoes, a big bag of sweet potatoes is sold for an average of N9,000 which contains two big baskets, while a big basket of sweet potatoes costs N5,000 in the market.
- Similarly, a big bag of Irish potatoes costs between N38,000 and N39,000, while the big basket costs N20,000.
Market Insights
As a tradition of the Nairametrics research team, buyers and sellers of various household commodities were interviewed across the four markets in relation to the changes going on in the market.
- A rice trader at Daleko market who prefers to remain anonymous, expressed relief at the availability of local rice in the market now, as there are new brands of the local commodity, some of which are: Lolo Gold rice, Mama’s Choice, Adunla rice e t c.
- However, she insisted that the supposed brands of foreign rice being sold in the market are actually made-in-Nigeria rice being packaged into those generic bags that are being sold for an average of N26,000.
- She went further to explain that the buyers preferred Mama’s choice of rice, opining that it is as good as the imported rice. She also called on the Government to help support the production of this essential commodity in large quantities within the country, in order to drive the price down and curb self-driven inflation perpetrated by some sellers of the product.
[READ ALSO: Household Survey: Traders exploit border closure to raise food prices]
About Nairametrics Food Price Survey
The Nairametrics Food Price Watch is a bi-weekly household market survey that covers prices of major food items, with emphasis on four major markets in Lagos – Mushin Market, Daleko Market, Oyingbo Market and Mile 12.
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God bless Buhari for this policy, let Nigerians start eating our local food.
To stabilize our economy, we most patronize made in Nigeria product