The prices of household items across major markets in Nigeria’s commercial hub, Lagos state, have continued in the upward trajectory. Staples such as beans, potatoes, palm oil, and melon recorded significant jump, according to the latest Household Market Survey carried out by Nairametrics Research.
According to the latest report, the price of a big bag of beans (Oloyin) increased significantly by 19.9% N24,875, up from an average of N20,750 two weeks ago. Also, a big basket of sweet potatoes initially which sold for an average of N14,500, jumped an average of N18,000 indicating a 24.1% increase in price within two weeks.
Despite the significant jump in prices, a few household items recorded a slight decline in prices. A bag of white garri dropped to an average of N12,325 compared to N13,325 recorded last month, while a bag of yellow garri now sells for an average of N11,625.
Details of items that recorded an increase in price, items that recorded price decline, items that maintained the same prices and key insights were included in the report.
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Items that witnessed price increase
- A big basket of sweet potatoes that was initially sold for an average of N14,500 is now being sold for N18,000, indicating a 24.1% increase in price.
- A big bag of melon that was initially sold for an average of N42,000 late in July is now being sold for an average of N46,500.
- A 5 litres gallon of palm oil increased by 18.8% to sell for an average of N2,525 while a 25 litres gallon now sell for an average of N13,000 compared to N11,000 recorded last month.
- 5 litres gallon of vegetable oil sells for an average of N2,350 as against an initial average of N2,275, representing a 3.3% increase in price.
- A bunch of plantain now sells for an average of N513 compared to N463 recorded in the last report.
- The price of a big bag of Bush mango seed (Ogbono) spiked by 26.7% from N75,000 recorded two weeks ago to sell for an average of N95,000.
- A big bag of melon now sells for an average of N46,500 compared to N42,000 recorded late last month.
- A 50kg bag of foreign rice (Caprice) now sells for an average of N29,333 compared to N25,500 indicating 2.9% increase in price.
- A 50kg bag of local rice also spiked by 5.1% to sell for an average of N23,125 compared to N22,000 recorded last month.
- A 50kg bag of white beans that was initially sold for an average of N30,500 now sells for an average of N32,000. This represents 4.9% increase in price.
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Items that witness decrease in price
Some of the items that recorded a slight decrease in price compared to two weeks ago include:
- The price of a big basket of round shaped tomatoes declined by 3.3% to sell for an average of N14,500 compared to N15,000 initially recorded.
- A medium-sized basket of round shaped tomatoes also sells for an average of N8,500 from an initial average of N10,000 indicating a 15% reduction in price.
- A bag of white garri now sells for an average of N12,325, recording 7.5% decrease in price from an average of N13,325 while yellow garri sells for an average of N11,625.
- A big nylon of crayfish that was initially sold for an average of N17,000 now sells for N13,000. It witnessed 25.5% reduction in price.
Items that maintained initial prices
- A 10kg bag of Rice master still sells for an average of N4,000.
- A carton of 210g sized of Indomie continues to sell for an average of N3,200 across Lagos markets.
- The price of Ijebu garri remains unchanged as it still sells for an average of N13,375.
- The prices of the frozen foods maintain their initial prices as a carton of full chicken and Chicken lap sells for an average of N12,500 while a carton turkey sells for N14,200.
- A big bag of yellow maize still sells for an average of N19,667 while a big bag of white maize cost an average of N19,000.
- Also, a big basket of an oval-shaped basket of tomatoes sells for an average of N12,000 while a small basket sells for an average of N7,500.
- A big bag of pepper sells for an average of N7,500 while a medium-sized bag maintains an average of N4,500.
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Special markets
- New onion is still not available at Mile 12 market as price of dry onions continues to surge. A recent survey showed that a big bag of dry onions increased from an average of N17,000 to N25,000 in July, which has now moved further to sell for an average of N30,000.
- Speaking to a major Onion seller at Mile 12, it was disclosed the price of Onions is likely to remain on the high side until the availability of new onions in the market. The trader further stated that new onions will be harvested during the rainy season, which will help drive the prices downward.
- According to some traders in the market, the prices of food items is expected to reduce in the coming weeks. Mrs. Adeoye a trader at Mushin market who spoke to Nairametrics research said “The prices of food items will soon reduce as we move closer to the end of rainy season”.
- Traders further complained about the effect of the alternate market days as a result of Covid-19 lockdown and how it continues to drive down sales
- The prices of frozen food items remained unchanged compared to prices recorded two weeks ago, as given below:
Chicken lap – N12,500
Full Chicken – N12,500
Turkey – N14,200
Market insights
Sellers at various markets who spoke to Nairametrics research team revealed that sales have dipped in the past month due to rise in prices of goods, traffic situation and alternate opening of the market. According to Mrs. Adeoye at Daleko market, “sales have dropped significantly in the past month as the price of food items keeps increasing worsened by markets only opening on specific days of the week. I think the increase in price of goods has discouraged consumers from purchasing as much as they do before which is affecting our revenue at the end of the day.”
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Meanwhile, in an interview session with a major trader at Mushin market who requested to remain anonymous, revealed to Nairametrics research the hike in price of some commodities in the market was anticipated due to scarcity as a result of rainy season. “For instance, price of palm oil and some other items like yam, potatoes usually increase during the rainy season, so we are not surprised. After the rainy season, the prices will most like drop compared to their current value in the market.”
Items Brand Unit MUSHIN (13/08/2020) DALEKO (13/08/2020) OYINGBO (13/08/2020) MILE 12 (13/08/2020) Average MUSHIN (21/07/2020) DALEKO (21/07/2020) OYINGBO (21/07/2020) MILE 12 (21/07/2020) Average Bag of Rice Basmati 5kg NA NA NA NA NA NA NA NA NA NA Bag of Rice Mama Gold 10kg NA 4000 4500 4700 4400 NA 4000 4500 4500 4333.3333333333 Bag of Rice Royal Stallion 50Kg 30000 NA 29000 28000 29000 29000 NA 29000 29500 29500 Bag of Rice Rice Master 10kg 4000 NA 4000 4000 NA 4000 NA 4000 4000 Bag of Rice Mama Gold 50kg 25000 22500 25000 24000 24125 22000 22500 25000 24000 23250 Bag of Rice Caprice 50kg 30000 NA 29000 29000 29333.333333333 28000 NA 29000 28500 28500 Bag of Rice Mama's Pride 50kg 25000 21000 22500 24000 23125 23000 21000 22500 23000 22000 Bag of Rice Falcon 25kg NA NA NA NA NA NA NA NA NA Bag of Beans Oloyin 50kg 38000 19500 20000 22000 24875 21000 19500 22000 22000 20750 Bag of Beans White 50kg NA 29000 35000 32000 32000 30000 29000 30000 32000 30500 Bag of Beans Brown >50kg 24000 29500 35000 30000 29625 32000 29500 35000 30000 29750 Tuber of Yam Abuja 1 Big Size Tuber 1000 900 900 800 900 900 900 850 1000 912.5 Tuber of Yam Abuja 1 Medium Size Tuber 600 800 500 800 675 750 800 750 800 775 Carton of Noodles Indomie 305g (Belle full) 3200 3100 3200 3100 3150 2900 2900 2900 2900 2900 Carton of Noodles Indomie 210g (Hungry man) 3200 3200 3200 3200 3200 3200 3200 3200 3200 3200 Carton of Noodles Chikki 100g 2200 2200 2100 2100 2150 2000 2200 2100 2100 2100 Carton of Noodles Minimie 70g 2100 1650 1700 1650 1775 1600 1650 1700 1650 1650 Carton of Noodles Golden Penny 70g 1700 1400 1400 1400 1475 1400 1400 1400 1400 1400 Bag of Garri Ijebu 80kg 14000 13500 14000 12000 13375 13000 13500 15000 12000 13375 Bag of Garri White 50kg 13000 11500 13000 11800 12325 11000 11500 19000 11800 13325 Bag of Garri Yellow 50kg 11000 12500 11000 12000 11625 12000 12500 14000 12000 12625 Basket of Potato Sweet Big Basket 20000 16000 18000 14500 14500 Basket of Potato Sweet Small Basket 700 600 650 700 600 600 633.33333333333 Basket of Potato sweet Smallest Basket 400 200 300 200 300 200 233.33333333333 Basket of Potato Irish Biggest Basket 33000 28000 30500 28000 28000 Basket of Potato Irish Small Basket 2500 2500 2000 2500 2250 Basket of Potato Irish Smallest Basket 1700 1500 1600 1700 1500 1500 1566.6666666667 Packet of Pasta Golden Penny 500g 4400 4300 4200 4300 4300 4400 4300 4200 4300 Packet of Pasta Dangote 500g 4100 4200 4100 4133.3333333333 4100 4100 4200 4100 4125 Packet of Pasta Power (1 pc) 500g 220 220 220 220 220 220 220 220 220 Packet of Pasta Bonita (1 pc) 500g 200 230 220 216.66666666667 230 200 230 220 220 Gallon of Palm Oil Local 5 Litres 2700 2300 2700 2400 2525 2200 2100 2100 2100 2125 Gallon of Palm Oil Local 25 Litres 14000 12000 13500 12500 13000 11000 11000 11000 11000 11000 Gallon of Vegetable Oil Local 5 Litres 2700 2200 2300 2200 2350 2400 2200 2300 2200 2275 Gallon of Vegetable Oil Local 25 Litres 14000 13000 13500 13500 13500 13100 13000 13500 13500 13275 Gallon of Vegetable Oil Kings 5 Litres 3200 3000 3000 3000 3050 3000 3000 3000 3000 3000 Gallon of Vegetable Oil Wesson 5 Litres 4500 3900 3900 3900 4050 3900 3900 3900 3900 3900 Gallon of Vegetable Oil Mamador 3.8 Litres 2500 2450 2500 2400 2462.5 2500 2450 2500 2400 2462.5 Gallon of Vegetable Oil Power 3 Litres 1900 1800 1800 1800 1825 1800 1800 1800 1800 1800 Bunch of Plantain Plantain 1 Bunch 500 550 500 500 512.5 500 400 450 500 462.5 Bag of Flour Dangote 50kg 11200 11000 11000 11066.666666667 11200 11200 11000 11000 11100 Bag of Flour Honey well 50Kg 12500 11200 11200 11200 11525 11200 11200 11200 11200 11200 Bag of Flour Mama Gold 50kg 13000 11300 11000 11000 11575 11000 11300 11000 11000 11075 Milk Peak Powdered (Tin) 400g 1200 1200 1200 1200 1200 1250 1200 1200 1200 1212.5 Milk peak Powdered(Tin) 900g 2350 2400 2400 2300 2362.5 2400 2400 2400 2300 2375 Milk Peak milk (Refill) 500g 1000 1000 1000 1000 1000 1050 1000 1000 1000 1012.5 Milk Dano Powdered (Tin) 500g 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 Milk Dano Powdered(Tin) 900g 2600 2000 2000 2000 2150 2000 2000 2000 2000 2000 Milk Dano (Refill) 500g 800 800 800 800 800 850 800 800 800 812.5 Milk Three Crown (Refill) 380g 700 700 750 700 712.5 720 700 750 700 717.5 Milk Loya Powdered (Tin) 400g 1000 1000 1050 1016.6666666667 1000 1000 1000 1050 1012.5 Milk Loya (Refill) 400g 800 850 800 816.66666666667 850 800 850 800 825 Milk Coast (Refill) 500g 750 750 750 750 750 750 750 750 750 Cocoa Beverages Milo (Tin) 500g 1000 1100 1050 1000 1037.5 1000 1100 1050 1000 1037.5 Cocoa Beverages Milo (Tin) 900g 2200 2100 2100 2100 2125 2000 2100 2100 2100 2075 Cocoa Beverages Milo Refill 500g 1000 900 900 900 925 900 900 900 900 900 Cocoa Beverages Bournvita Refill 500g 1000 950 900 950 950 1000 950 900 950 Cocoa Beverages Bournvita (Plastic) 900g 2000 2000 2000 2000 2000 2000 2000 2000 2000 Cocoa Beverages Ovaltine Refill 500g 800 850 850 833.33333333333 800 800 850 850 825 Cocoa Beverages Ovaltine(Plastic) 500g 1100 1000 1100 1066.6666666667 1100 1100 1000 1100 1075 Coffee Nescafe Classic 50g 600 600 600 600 600 600 600 600 600 600 Tea Lipton Yellow label 52g 300 290 300 300 297.5 310 290 300 300 300 Tea Top tea 52g 300 300 300 300 300 300 300 300 300 300 Sugar St' Loius Sugar(Cube) 500g 500 550 550 550 537.5 500 550 550 550 537.5 Sugar Golden Penny Sugar (cube) 500g 300 350 350 400 350 350 350 350 400 362.5 Bread Val-U 1 loaf 450 NA 450 500 466.66666666667 500 NA 450 NA 475 Bread Butterfield 1 loaf 450 450 500 500 475 500 450 450 500 475 Egg N/A Crate 1200 1200 1200 1100 1175 1100 1200 1200 1100 1150 Bottled Water (Refill) Cway Refill 600 650 600 616.66666666667 600 600 650 600 612.5 Juice 5 Alive 1 litre 550 550 550 600 562.5 600 550 550 600 575 Juice Chivita 1 litre 550 550 600 550 562.5 600 550 600 550 575 Gas Refilling 12.5kg 3400 3300 3400 3600 3425 3500 3000 3400 3600 3375 Gas Refilling 5kg 1500 1400 1400 1400 1425 1400 1400 1400 1400 1400 Tomatoes Big Basket round shaped 15000 14000 14500 15000 15000 Medium Basket round shaped 10000 7000 8500 10000 10000 Small Basket round shaped 8000 6000 7000 6000 6000 Big Basket Oval Shaped 12000 12000 12000 12000 Small Basket Oval Shaped 7500 7500 7500 7500 Fish Kote (Horse Mackerel) 1 big Fish 600 600 550 500 562.5 550 600 550 500 550 Fish Titus (Mackerel) 1 big Fish 600 550 550 600 575 550 550 550 600 562.5 Pepper Big bag 7500 7500 7500 7500 Medium bag 4500 4500 4500 4500 Maize Yellow 18000 22000 19000 19666.666666667 18000 22000 19000 19666.666666667 White 18000 20000 19000 19000 18000 20000 19000 19000 Melon Big bag 51000 42000 46500 42000 42000 Onions Big bag Dry Onions 35000 25000 30000 25000 25000 Onions Big bag New Onions NA NA Bush mango seed (Ogbono) 1 big bag 95000 95000 75000 75000 Frozen food Full chicken Carton 12500 12500 12500 12500 Frozen food Chicken lap Carton 12500 12500 12500 12500 Frozen food Turkey Carton 14200 14200 14200 14200 Crayfish 13000 13000 17000 17000
About Nairametrics Food Price Survey
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.
