Nigerians continue to grapple with the persistent increase in prices of household food items as rice, vegetable oil, flour, tomatoes, onions and frozen food items recorded significant increase in price at the end of September. This was contained in the latest Household Market Survey conducted by Nairalytics, the research arm of Nairametrics.
Major food items continue to jump across Lagos markets as sustained structural issues affecting food production and supply were further exacerbated by the lockdown measures implemented by the Government in response to curbing the spread of the COVID-19 pandemic.
According to the latest survey conducted by Nairalytics, a big bag of round shaped tomatoes spiked by 16.7% to sell for an average of N14,000 compared to N12,000 recorded a fortnight ago. Also, a cartoon of frozen Chicken that was initially sold for an average of N13,000 now sells for N14,000.
On the flip side, a 50kg bag of Mama Gold Flour which endured a sudden increase two weeks ago to N16,500 now sells for an average of N14,125.
The report contains information on items that witnessed price increase, price decrease, as well as information on special markets, and insights.
Items that witnessed price increase
Listed below are the items that recorded significant price increase:
- A 50kg bag of Mama’s Pride rice increased by 3% to sell for an average of N25,500 compared to an initial average of N24,750.
- Also, a 50kg bag of foreign rice (Mama Gold) rice sells for an average of N29,750. This indicates a 3% increase compared to N28,875 recorded earlier in September.
- A 50kg bag of Royal Stallion (Foreign rice) also increased by 1.1%. selling for an average of N30,333 as against N30,000 earlier reported.
- A 70g carton of Golden Penny noodles recorded an 8.47% increase in price to sell for an average of N1,600 compared to N1,475 recorded two weeks ago.
- A 5 litres gallon of local vegetable oil that was sold for an average of N2,750 two weeks ago now sells for N3,100 indicating a 12.7% increase in price.
- Also, a 25 litres gallon increased by 4.84% to sell for an average of N14,625 from initial average N13,950.
- A big basket of round shaped tomatoes increased by 16.7% to sell for an average of N14,000 as against N12,000 recorded two weeks ago.
- A medium-sized basket of round shaped tomatoes also increased by 21.4% to sell for an average of N8,500 compared an initial average of N7,000.
- A big basket of oval-shaped tomatoes now sells for an average of N16,000 representing an 100% increase in price.
- A carton of full chicken sells for an average of N14,000 compared to an initial average of N13,000. The frozen food item increased by 7.7%.
- While the price of a carton of chicken laps, also increased by 7.7% to sell for an average of N14,000.
- A big bag of dry onion now sell for an average of N37,500, increasing by 7.9% from an initial average of N34,750.
Items that witnessed price decrease
Some of the items that recorded slight decrease in prices include:
- A 50kg bag of white beans recorded a decline in price of 6.3% to sell for an average of N29,750 as against N31,750 recorded earlier in the month.
- A medium-sized tuber of yam now sells for an average of N638, representing 10.5% reduction in price.
- Mama Gold flour (50 kg) that was sold for an average of N16,500 two weeks ago, is now being sold for an average of N14,125.
- A big bag of pepper currently sells for an average of N15,500, decreasing by 3.1% from an initial average of N16,000 while a medium bag size decreased by 7.1% to sell for an average of N6,500.
- The price of a big bag of yellow maize dipped by 14.5% to sell for an average of N17,667 while that of white maize also reduced by 15.7% to sell for an average of N17,000.
- Bush mango seed (Ogbono) that was sold for N105,000 earlier in September, now sells for an average of N95,000 representing 9.5% reduction in price.
Items that maintained initial prices
- Items whose prices remained the same, compared to two weeks ago include:
- A big bag of new onions continues to sell for an average of N25,500, same as recorded two weeks ago
- A crate of raw egg still sells for an average of N1,200 across the four markets.
- Refilling of 12.5kg cylinder of household cooking gas still cost average of N3,275 while 5kg cylinder costs an average of N1,375.
- Dangote and Honeywell flour still sell for an average of N14,333 and N14,375 respectively.
- A big basket of sweet potatoes continues to sell for an average of N14,000 while Irish potatoes of the same size, still sell for an average of N30,500
- 50kg bag of beans (Oloyin) still sell for an average of N20,375.
- Recall that, Nairalytics earlier reported a significant surge in the price of flour across major markets in Lagos State. A visit to Oyingbo market revealed that the price of flour is still very much on the high side as most traders sell a 50kg bag of flour between N13,500 and N14,500 depending on the brand of the product.
- According to Mrs. Esther who bakes cake at Oyingbo market, “the increase in the price of flour, is really affecting us seriously, we bought a bag of flour for N11,000 before lockdown, now we are forced to buy for as high as N14,000 while we also buy 25 litres gallon of vegetable oil for an average of N15,000 despite the fact that we cannot increase the price of our goods so as not to discourage buyers”. She stated further that the increase in price of flour is affecting their ability to make profit and grow their businesses.
- Below are the prices of various brands of rice, sighted at Daleko market; Mama Gold (10kg) – N4,500, Royal Stallion (50kg) – N29,000, Rice Master (10kg) – N5,000, Mama Gold (50kg) – N29,500, Caprice (50kg) – N29,000, Mama’s Pride (50kg) – N25,500, Umza (50kg) – N24,500, Labana (50kg) – N25,000, Alamzat (50kg) – N23,500, Big Bull (50kg) – N25,000, Mama’s Choice (50kg) – N24,000.
- Nigerians have been hit with persistent increase in prices of most food items despite the easing of lockdown in the country. Nairametrics visited some tomatoes sellers at Mushin and obtained some insightful responses as to cause of the recent spike in the price of tomatoes.
- According to Mrs. Alomaja, Northerners bringing in the items to the market are complaining of rain spoiling their harvests, which has, in turn, affected the price of the commodity. “this year, it did not rain as much as anticipated, and now when it is time to harvest heavy downpour of rain is now destroying the harvest in the farm” she said. This implies that the heavy rainfall has destroyed most of the harvest, hereby limiting the quantity of goods available for sale.
- Mr Yaya, on the other hand told Nairametrics that the increase in price of tomatoes is due to seasonal fluctuations, considering that the year is gradually getting to the end, a period characterized by increase in price of food items.
- Meanwhile, the price of a big bag of dry onions increased by 7.9% to sell for an average of N37,500. The increase has been attributed to scarcity of the commodity in the market. Mr. Kelechi, a trader at Mile 12 told Nairametrics that there have been limited quantity of the commodity coming into the market in recent times, which has caused the price of the item to surge.
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About Nairametrics Food Price Survey
Nairametrics Food Price Watch, is a bi-weekly Household Market Survey that covers the prices of major food items in Nigeria, with emphasis on five major markets in Lagos – Mushin market, Daleko market, Oyingbo market, Idi-Oro market, and Mile 12 market.