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The local price of rice recorded a significant drop after weeks of price hikes following the closure of Nigerian land borders. Latest Nairametrics Food Price Survey reveals more brands of local rice have now flooded major markets in the country helping to drive down prices of local rice 

The latest household survey conducted by Nairametrics Research Team showed that some new brands of local rice now sell for as low as N17,000. Also, the prices of other items like round shaped tomatoes, bags of onions dropped from what was reported two weeks earlier.  

Despite the price drops recorded, some major items such as palm oil, groundnut oil, and foreign rice increased in price. The report includes details on items that witnessed increasin price, items that reduced, special market/items as well as market insights. 

local, Rice will be abundant this Christmas, RFAN says

Items that recorded an increase in price 

  • A 50kg bag of Caprice increased by 0.16% to sell at an average of N26,167 compared to an initial N26,125. 
  • A big bag of Garri (Yellow) now sells for an average of N6,250 from an initial N6,125 indicating a 2.04% increase. 
  • The price of 5 litres of locally made palm oil spiked significantly by 14.9% as it now sells for an average of N2,125 from an initial average of N1,850. 
  • 25 litres of locally made palm oil also increased by 17.1% to sell at an average of N11,125 compared to N9,500. 
  • The price of locally made groundnut oil witnessed significant change, as the 25-litre gallon increased by 25% to sell at a current average of N13,125 from an initial N10,500. 

House hold survey

Items that maintained initial price 

Below are the items that maintained initial prices over the past two weeks: 

  • Household cooking gas maintained the same price as recorded last time out; 12.5kg of gas cost an average of N3,900, while 5kg costs N1,525. 
  • The various noodle brands still sell for the same prices as they did two weeks ago. A carton of Indomie (Hungry man) sells for an average of N3,200, while Chikki (100g) sells for an average of N2,100. 
  • The price of 50kg bags of brown beans (Oloyin) and white beans still sell for an average of N13,000 and N21,250 respectively. 
  • A bag of Ijebu Garri and white Garri currently sell at an average of N6,700 and N6,125 respectively. 
  • Juice brands such as 5 Alive and Chivita cost an average of N500.

Items that recorded price reductions 

  • A 50kg bag of Royal Stallion rice reduced slightly by 1.56% to an average of N26,333 compared to a previous N26,750. 
  • The price of a big basket of round shaped tomatoes reduced by 10% as it now sells for N9,000 compared to an initial N10,000. 
  • The price of a medium and small basket of round shaped tomatoes also reduced by 14.3% and 33.3% to sell at N6,000 and N4,000 respectively. 
  • A big basket of oval-shaped tomatoes now costs N7,000 compared to an earlier cost of N8,000. This change indicates a 12.5% reduction in price, while a small basket of the same type of tomatoes reduced by 10% to sell at N4,500. 

Special Item/Markets 

Daleko market now has a new stock of locally made riceSome new brands of locally made rice in the market include “Arinze”, “Mama Emeka”, “Crown Gold”, “Big Bull”, “Patriot”, “Usir”, LGS” and many othersThese items sell between the range of N17,000 and N21,000. 

Standard chartered

As a follow up to an earlier report,  the price of a big bag of new onions crashed by 16.7% as it now sells for an average of N25,000, while a bag of dry onions now cost an average of N22,000, indicating 45% reduction.  

The price of maize still varies largely across various markets. However, a bag of yellow maize dropped significantly at Mile 12 market to sell at an average of N14,000 compared to N21,000 recorded two weeks ago. This change indicates a 33.3% decrease.  

Standard chartered

[READ MORE: Prices of tomatoes, frozen foods, onions, others jump, as low demand hits imported rice]

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However, a bag of yellow maize continues to sell at N13,000 at the Mushin market while a bag of white maize costN11,500. 

Market Insights 

Poultry owners are stocking broiler chickens as they prepare to do the Christmas business. This is according to a chicken seller who suggested that the commodity is expected to slightly increase in price going into the Yuletide period. Meanwhile, layers are currently sold for N2,000 each while breeders sell for N5,000 each. Another brand of chicken called “Aguntan Ologan” is sold for an average of N4,000. 

Nairametrics Research also found out that the price of pepper dropped again in the last two weeks as it now sells for an average of N10,000 compared to N14,000 recorded last time.  The price of the item reduced by 28.6% within 15 days.

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However, Mr. Babangida, a seller at Mile 12 market, enlightened the Research team, The price varies according to time. A bag of pepper was sold for an average of N11,000 in the morningwhile it costs N10,000 in the afternoon. 

Commenting on the crash in the price of tomatoesmajor tomatoes trader in Mile 12 market said, The change in the price of tomatoes is not influenced by border closure, rather it is affected by supply in the market, as prices are easily raised when the commodity is not available. 

The price of tomatoes is not constant, it could sell at N15,000 tomorrow and drop to N6,000 the day after if there is a surplus supply of tomatoes in the market. 

Rice dealers at Daleko market confirmed to Nairametrics that there is no foreign rice currently in Nigerian markets. According to a major dealer, There are various brands of locally made rice, some of which are processed to the standard of imported rice while some are stony. The better quality sells for an average of N21,000 while the latter costs an average of N17,500. 

“The only issue is that many dealers now bag these locally made rice into foreign bags as a strategy for marketing, to attract customers to their shops. Retailers now sell local rice in place of foreign rice to consumers at the rate of foreign rice.” 

[READ ALSO: Household Survey: Nigerians dump imported rice, others, as prices jump high]

About Nairametrics Food Price Survey 

The Nairametrics Food Price Watch is a bi-weekly household market survey that covers the prices of major food items, with emphasis on five major markets in Lagos – Mushin Market, Daleko Market, Oyingbo Market, Idi-Oro Market and Mile 12. 

ItemsBrandUnitMUSHIN (05/12/2019)DALEKO (05/12/2019)OYINGBO (05/12/2019)MILE 12 (05/12/2019)Average MUSHIN (21/11/2019)DALEKO (21/11/2019)OYINGBO (21/11/2019)MILE 12 (21/11/2019)Average
Bag of RiceBasmati5kgNANANANANANANANANA
Bag of RiceMama Gold10kgNANANANANANANANANA
Bag of RiceRoyal Stallion50Kg27000NA270002500026333.3333333332800026000280002500026750
Bag of RiceRice Master10kgNANANANANANANANANANA
Bag of RiceMama Gold50kg22000205002200021000213752200020500220002100021375
Bag of RiceCaprice50kg26500NA270002500026166.6666666672650026000270002500026125
Bag of RiceMama's Pride50kg22000205002200021000213752200020500220002100021375
Bag of RiceFalcon25kgNANANANANANANANANANA
Bag of BeansOloyin50kg13000120001300014000130001300012000130001400013000
Bag of BeansWhite50kg22000200002200021000212502200020000220002100021250
Bag of BeansBrown>50kg24000220002400024000235002400022000240002400023500
Tuber of YamAbuja1 Big Size Tuber900800900800850900800900800850
Tuber of YamAbuja1 Medium Size Tuber650500650600600650600650600625
Carton of NoodlesIndomie305g (Belle full)2900290029002900290029002900290029002900
Carton of NoodlesIndomie200g (Hungry man)3200320032003200320032003200320032003200
Carton of NoodlesChikki100g2000220021002100210020002200210021002100
Carton of NoodlesMinimie70g1500150015001500150015001500150015001500
Carton of NoodlesGolden Penny70g1400140014001400140014001400140014001400
Bag of GarriIjebu80kg6000680070007000670060006800700070006700
Bag of GarriWhite50kg5500600065006500612555006000650065006125
Bag of GarriYellow50kg5500650065006500625055006000650065006125
Basket of PotatoSweetBig Basket4500450045004500
Basket of PotatoSweetSmall Basket700700700700
Basket of PotatosweetSmallest Basket200200200200
Basket of PotatoIrishBiggest Basket22000220002200022000
Basket of PotatoIrishMedium Basket2000200020002000
Basket of PotatoIrishSmall Basket1500150015001500
Packet of PastaGolden Penny500g4200420043004200422542004200430042004225
Packet of PastaDangote500g4000400040003900397540004000400039003975
Packet of PastaPower (1 pc)500g220220220200215220220220200215
Packet of PastaBonita (1 pc)500g220200200210207.5220200200210207.5
Gallon of Palm OilLocal5 Litres2200200023002000212520001700200017001850
Gallon of Palm OilLocal25 Litres1150011000115001050011125105009000950090009500
Gallon of Vegetable OilLocal5 Litres2300210024002200225020001900200020001975
Gallon of Vegetable OilLocal25 Litres140001250013500125001312512000950011000950010500
Gallon of Vegetable OilKings5 Litres3000300030003000300030003000300030003000
Gallon of Vegetable OilWesson5 Litres3900390039003900390039003900390039003900
Gallon of Vegetable OilMamador3.8 Litres25002450250024002462.525002450250024002462.5
Gallon of Vegetable OilPower3 Litres1800180018001800180018001800180018001800
Bunch of PlaintainPlaintain1 Big Bunch400400350400387.5400400350400387.5
Bag of FlourDangote50kg11200112001120011500112751120011200112001150011275
Bag of FlourHoney well50Kg11500112001120011200112751150011200112001120011275
Bag of FlourMama Gold50kg11500113001100011300112751150011300110001130011275
Bag of SugarDangote50kg3500320034003200332535003200340032003325
MilkPeak Powdered (Tin)400g12501200120012001212.512501200120012001212.5
Milkpeak Powdered(Tin)900g2400240024002300237524002400240023002375
MilkPeak milk (Refill)500g10501000100010001012.510501000100010001012.5
MilkDano Powdered (Tin)500g1000100010001000100010001000100010001000
MilkDano Powdered(Tin)900g2000200020002000200020002000200020002000
MilkDano (Refill)500g850800800800812.5850800800800812.5
MilkThreeCrown (Refill)380g720700750700717.5720700750700717.5
MilkLoya Powdered (Tin)400g10001000100010501012.510001000100010501012.5
MilkLoya (Refill)400g850800850800825850800850800825
MilkCoast (Refill)500g750750750750750750750750750750
Cocoa BeveragesMilo (Tin)500g10001100105010001037.510001100105010001037.5
Cocoa BeveragesMilo (Tin)900g2000210021002100207520002100210021002075
Cocoa BeveragesMilo Refill500g900900900900900900900900900900
Cocoa BeveragesBournvita Refill500g950900950900925950900950900925
Cocoa BeveragesBournvita (Plastic)900g2000200020002000200020002000200020002000
Cocoa BeveragesOvaltine Refill500g800800850850825800800850850825
Cocoa BeveragesOvaltine(Plastic)500g1100110010001100107511001100100011001075
CoffeeNescafe Classic50g600600600600600600600600600600
TeaLipton Yellow label52g310290300300300310290300300300
TeaTop tea52g300300300300300300300300300300
SugarSt' Loius Sugar(Cube) 500g400380400450407.5400380400450407.5
SugarGolden Penny Sugar (cube)500g350300350300325350300350300325
BreadVal-U1 loaf300300300300300300300300300300
BreadButterfield1 loaf300300300300300300300300300300
EggN/ACrate1000100010001000100010001000100010001000
Bottled Water (Refill)CwayRefill600600650600612.5600600650600612.5
Juice5 Alive1 litre600550550600575600550550600575
JuiceChivita1 litre600550600550575600550600550575
GasRefilling12.5kg4000380040003800390040003800400038003900
GasRefilling5kg1500160015001500152515001600150015001525
TomatoesBig Basketround shaped900090001000010000
Medium Basketround shaped6000600070007000
Small Basketround shaped4000400060006000
Big BasketOval Shaped7000700080008000
Small BasketOval Shaped4500450050005000
FishKote (Horse Mackerel)1 kg500450480450470500450480450470
FishTitus (Mackerel)1 kg500480500490492.5500480500490492.5

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