Latest food prices survey around major market in Lagos state revealed that food prices, including local rice dropped slightly as Nigerians besieged markets to buy stuff for Christmas.
The household survey showed that the price of a big basket of round shaped tomatoes reduced from N9,000 recorded earlier in December, to N8,000. Also, 50kg locally made rice (Mama Gold & Mama’s Pride) now sells for an average of N21,000 from an initial N21,375.
Also, 50kg of Caprice sells for an average of N25,750, indicating a 1.59 per cent drop in price from an initial N26,165.
The report, which also found that the market is flooded with some low quality (stony rice), revealed items that witnessed an increase in prices, items that reduced in prices, items that maintained initial prices, Special Market items, and other insights.
50kg bags of locally made rice (Mama Gold & Mama’s Pride) now sell for an average of N21,000 from an initial N21,375. A 50kg bag of Caprice sells for an average of N25,750, indicating a 1.59 per cent decline in price from an initial 26,165.
Titus fish now sells for an average of N485 per kg, a1.52 per cent decline from its initial N493.
A 50kg bag of beans (Oloyin) still sells for an average of N13, 000, while white beans still cost N21, 250, the same as two weeks ago.
A bag of Ijebu Garri still sells for an average of N6, 700.
5-liter kegs of locally made palm oil still sell for an average of N2,125 while a 25-litre keg of the same item is sold for N11,125. Abig basket of sweet potatoes still costs N4.500, while the small basket costsN700.
A big basket of Irish potatoes maintained its initial price at N22, 000.
The price of bread remained the same, as loaves of Val-Uand Butterfield bread cost an average of N300 each.
Kegs of locally made vegetable oil maintained their prices at N2,300 (5 litres) and N13,125 (25 litres).
Meanwhile, a tuber of big sized yam now sells for an average of N863 from N850 recorded two weeks ago. This represents a 1.47 percent increase in two weeks. A bag of white garri increased from N6,125 to sell at N6,200 (1.22 per cent increase).
A bag of yellow garri now sells for an average of N6,500, a 4 per cent increase compared to N6,250 recorded earlier this month. Refilling of 12.5kg cylinder of gas increased from an average of N3,900 to N3,975 in two weeks.
Golden Penny pasta now sells for an average of N4,300 per carton from an initial N4,225. The average price of 1kg of Horse Mackerel fish (Kote) increased from an average of N470 per kg to sell at an average of N478.
Special items/markets
Yellow maize still costs N14,000 at Mile 12 and Idi-Oro markets. A Nylon bag of crayfish maintained its initial price at N12,500, while bags of bush mango seeds (Ogbono) and melon seeds still cost N60,000 andN47,000 respectively.
The Lagos owned rice (Lake rice) that was reportedly distributed across the various market was nowhere to be found in the markets visited. A dealer complained that they were not able to buy the commodity from the depot due to long queues and the adopted distribution channel.
One of the major rice traders, Mr. Segun, says, “locally made rice is of two types: the cheaper one which cost an average of N18,000 with too much stone and dirt in it, and that of N21,000 which is of better quality and condition.“
According to him, there is a high quantity of stony local rice in the markets. He called on the government to wade in and stop the production of such items that have flooded the markets.
