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Food items’ stock pile-up across major markets, as prices continue to drop 

The latest Household survey carried by Nairametrics Research Team showed that prices of major food items in Lagos dropped significantly.

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Quality of local rice improves as food prices drop across major markets 

The rise in the inventory of major food items across major markets continues to pull prices, as the latest Household survey carried out by Nairametrics Research Team showed that prices of major food items in Lagos dropped significantly.

According to the latest Household survey, prices of major food items such as palm oil, onions, pepper, groundnut oil and potatoes recorded significant decrease in price. Specifically, the latest survey showed that the price of a big bag of onions crashed to an average of N20,000 compared to N28,000 recorded earlier in January, while a 25-litre gallon of locally made palm oil currently sells for an average of N10,125 from an initial N11,125.

On the other hand, the prices of local and foreign-made rice remain the same as rice traders anticipate the move of the government following the recent border closure. This survey also reports household items that witnessed decreases in prices, items with increased prices, items that maintained initial prices and important market insights.

Items that witnessed decrease in prices 

  • A big basket of Irish potatoes now sells for an average of N18,000 from an initial N22,000, indicating 18.2% decrease in two weeks.
  • The price of a big basket of sweet potatoes is now N4,300, indicating a 4.4% reduction compared to an initial average of N4,500.
  • A 25-litre gallon of locally made palm oil now sells for an average of N10,125 representing an 8.99% reduction in price compared to N11,125 recorded earlier in January.
  • The price of a 25-litre gallon of locally made groundnut oil also recorded reduction as it now sells for an average of N12,875 compared to N13,125 two weeks ago.
  • A big bag of pepper, for the fourth time in a row, recorded a decrease in price as it now sells for an average of N6,500, indicating an 18.8% decrease from an initial N8,000.
  • The price of a big bag of dry onions also recorded a significant decrease as it dipped by 28.5% to sell at an average of N20,000, from an initial average of N28,000. Also, a bag of new onion sells for an average of N18,000 compared to N26,000 recorded earlier in January.

[READ MORE: Tomatoes, pepper prices crash across major)

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Items that maintained initial prices 

  • A 50kg bag of locally-made rice (Mama Gold & Mama’s Pride) still retains its initial price at an average of N20,750.5.
  • A 50kg bag of Royal Stallion rice continues to sell at an average of N27,000 while Caprice sells at N26,167.
  • The varieties of garri maintain their prices as Ijebu garri sells at N6,700, White Garri at N6,127 while yellow garri costs N6,500.
  • A big bag of yellow maize continues to sell at an average of N14,000, while white maize sells at an average of N15,500.

Items that Increased in prices 

In the latest Household survey, a few items recorded slight rises in their prices.

  • A big basket of round shaped tomatoes sells for an average of N6,000 compared to N5,000 obtained two weeks ago.
  • A big bag of melon seeds increased slightly to an average of N48,000, a 2.13% increase compared to N47,000 recorded earlier in January.

Special Market/Insights 

The huge influx of tomatoes, onions and pepper continue to crash prices of the items in major markets in January.

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  • A bag of new onions, which was sold at an average of N25,000 in December has reduced significantly to N18,000.
  • Also, a big bag of pepper which was sold at N13,000 has now been halved to an average of N6,500, while tomatoes currently sell within the range of N5,500 and N6,000 compared to N9,000 recorded in December.
  • A major pepper trader that spoke to the Research Team revealed that there is a huge stock of pepper and other items as more loaded trucks arrived at the market, and this is largely crashing prices.
  • Meanwhile, the continued drop in price was met with joy. For example, a buyer, Mrs Olaitan, who spoke to Nairametrics at Mile 12 market said, “We are happy that the prices of goods are beginning to reduce because December period was very harsh on Nigerians since most of the items recorded significant hikes, but now we are cheerful and optimistic. That is why the market is filled with a lot of people.”
ItemsBrandUnitMUSHIN (23/01/2020)DALEKO (23/01/2020)OYINGBO (23/01/2020)MILE 12 (23/01/2020)Average MUSHIN (09/01/2020)DALEKO (09/01/2020)OYINGBO (09/01/2020)MILE 12 (09/01/2020)Average 
Bag of RiceBasmati5kgNANANANANANANANANANA
Bag of RiceMama Gold10kgNA4000NANA4000NA4000NANA4000
Bag of RiceRoyal Stallion50Kg27000NA27000NA2700027000NA27000NA27000
Bag of RiceRice Master10kgNA4000NA45004250NA4000NA45004250
Bag of RiceMama Gold50kg21000200002100021000207502100020000210002100020750
Bag of RiceCaprice50kg2650027000NA2500026166.6666666672650027000NA2500026166.666666667
Bag of RiceMama's Pride50kg21000200002100021000207502100020000210002100020750
Bag of RiceFalcon25kgNANANANANANANANANANA
Bag of BeansOloyin50kg13000120001300014000130001300012000130001400013000
Bag of BeansWhite50kg22000200002200021000212502200020000220002100021250
Bag of BeansBrown>50kg24000220002400024000235002400022000240002400023500
Tuber of YamAbuja1 Big Size Tuber850800800800812.5850800800800812.5
Tuber of YamAbuja1 Medium Size Tuber650550600600600650550600600600
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 GarriWhite50kg6000600065006000612560006000650060006125
Bag of GarriYellow50kg6000650065007000650060006500650070006500
Basket of PotatoSweetBig Basket4300430045004500
Basket of PotatoSweetSmall Basket700700700700
Basket of PotatosweetSmallest Basket200200200200
Basket of PotatoIrishBiggest Basket18000180002200022000
Basket of PotatoIrishMedium Basket2000200020002000
Basket of PotatoIrishSmall Basket1500150015001500
Packet of PastaGolden Penny500g4300440043004200430043004400430042004300
Packet of PastaDangote500g4000400040004100402540004000400041004025
Packet of PastaPower (1 pc)500g220220220200215220220220200215
Packet of PastaBonita (1 pc)500g220200200210207.5220200200210207.5
Gallon of Palm OilLocal5 Litres2200200023002000212522002000230020002125
Gallon of Palm OilLocal25 Litres1050010000105009500101251150011000115001050011125
Gallon of Vegetable OilLocal5 Litres2300230024002300232523002300240023002325
Gallon of Vegetable OilLocal25 Litres13000125001350012500128751400012500135001250013125
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/ACrate9501000950100097595010009501000975
Bottled Water (Refill)CwayRefill600600650600612.5600600650600612.5
Juice5 Alive1 litre600550550600575600550550600575
JuiceChivita1 litre600550600550575600550600550575
GasRefilling12.5kg4000400040004000400040004000400040004000
GasRefilling5kg1700170018001700172517001700180017001725
TomatoesBig Basketround shaped6000600050005000
Medium Basketround shaped3500350035003500
Small Basketround shaped2500250025002500
Big BasketOval ShapedNANANANA
Small BasketOval ShapedNANANANA
FishKote (Horse Mackerel)1 kg500450470490477.5500450470490477.5
FishTitus (Mackerel)1 kg500450500490485500450500490485
PepperBig bag6500650080008000
Medium bag5000500060006000
MaizeYellow140001400014000140001400014000
White150001600015500150001600015500
MelonBig bag48000480004700047000
OnionsBig bagDry Onions20000200002800028000
OnionsBig bagNew Onions18000180002600026000

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.

 

Nairametrics Research team tracks, collates, maintains and manages a rich database of macro-economic and micro-economic data from Nigeria and Africa. Our analysts share some of the data collated on Nairametrics, using formats such as docs, tables and charts etc. The team also publishes research based analysis as articles on a regular basis.

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