Food prices keep on rising. But yam, onion buck the trend

Food prices keep on rising as staples bread, garri, tomato, beans remain in demand

By Jeph Ajobaju, Chief Copy Editor

Yam, onion, egg, and local rice buck the trend a bit but the prices of other staple foods – beans, garri, tomato, et cetera – remain high in April, building on the hikes in March even as fuel scarcity has abated.

An 80kg bag of Ijebu garri increased 28.2 per cent to sell for an average N15,000 in April compared with N11,700 in March.

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A 50kg bag of Oloyin beans that sold for an average N32,125 in March costs N35,700 in April, up 11.1 per cent.

The price of a big size tuber of yam reduced to an average N1,275 against N1,500 in March. A 50kg bag of foreign rice (Mr. Rice) dropped 13.3 per cent to N28,620 from N33,000 in March.

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Highlights of the report

A survey by Nairametrics of four markets in Lagos – Daleko, Oyingbo, Mile 12, and Mushin – shows price variations in April against March as follows:

Yellow garri (50kg) – N13,875 from N12,250 (up 13.27 per cent).
Beans (50kg, Oloyin) – N35,700 from N32,125 (up 11.1 per cent).

Bush mango also called ogbono (big bag) – N155,000 from N135,000 (up 15 per cent).

Tomato (basket, medium size) – N14,500 from N11,250 (up 24 per cent).
White garri (50kg) – N13,750 from N12,375 (up 11 per cent).

Palm oil (25 litres) – N22,375 from N21,250 (up 5 per cent).
A crate of eggs – N1,950 from N2,075 (down 6.6 per cent).

Tuber of yam (Abuja, big size) – N1,500 from N1,275 (down 15 per cent).

Dry onions (big bag) – N20,500 from N22,250 (down 7.9 per cent).
New onions (big bag) – N18,875 from N20,833 (down 9.4 per cent).

Views of traders

Below are the views of traders in some of the markets

Kelechi (grocery store operator, Mile-12 market)

“This time, I really cannot say what exactly is causing the surge in the price of ‘ogbono’, it normally did sell for more than between N110,000 and N120,000 per bag.

“The problem in Nigeria lately has caused huge increase in the price of more or less everything.

“There are two types of ‘ogbono’ in the market at the moment – the Badagry bush mango seed, which sells for an average of N160,000 and the one from Abakaliki, which sells for an average of N150,000.

“The Badagry seed better is than the one from Abakaliki, hence the price differential.”

Yahaya (tomato seller, Mushin market)

“The price of tomato changes based on availability and how fresh it is. In the morning, a big basket could sell for an average N15,000 then drop to as low as N7,500 in the afternoon.

“The only factor that influences the price in the afternoon is the state of the fruit due to the burning sun as most tomatoes at the bottom of the basket would be getting spoilt.”

Ayo (rice seller, Daleko market)

“The price of local rice is currently trending downwards. However, it is the brand with stone that has dropped significantly.

“Stone-free rice sells for an average N25,000 per 50kg bag and the one which is stony sells for N19,000.”

NBS data

The National Bureau of Statistics (NBS) reported last week that inflation rate rose to 15.92 in March, following a similar uptick in February.

The NBS said

Food inflation rose to 17.2 per cent in March, up 17.11 per cent.

The rise in the food index was caused by increases in prices of Bread and cereals, food product, Potatoes, yam and other tuber, Fish, Meat, Oils and fats.