BREAKING: Price Of Bag Of Rice, Beans, Tomatoes, Other Food Commodities This Week

The prices of essential foodstuffs in Nigeria have experienced mixed trends, with some staple items witnessing slight reductions while others remain expensive.......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>

The recent drop in the price of a 50kg bag of rice to ₦64,000 has provided some relief to consumers. However, the cost of fresh produce, including tomatoes and pepper, remains high, as a small basket of tomatoes now sells for ₦4,500, and a small basket of pepper costs ₦2,500.

The cost of a 50kg bag of rice, which soared to over ₦70,000–₦75,000 in previous months, has now dropped to ₦64,000.

This Reduction Has Been Attributed To:

Improved supply from local rice farmers

Easing importation restrictions on certain brands

Seasonal harvests increasing availability in the market

Despite the slight relief, many consumers still struggle to afford rice, as retailers sell in smaller quantities, with 1kg now going for ₦1,300–₦1,500, depending on location and brand.

Tomatoes Still Expensive At ₦4,500 Per Small Basket

Fresh tomatoes, a staple in most Nigerian dishes, remain costly. A small basket of tomatoes is currently selling for ₦4,500, while a larger basket sells for ₦25,000–₦30,000, depending on the market and region.

The High Cost Of Tomatoes Is Linked To:

Off-season production, leading to lower supply

High transportation costs due to fuel price increases

Post-harvest losses, as poor storage facilities affect availability

Traders predict that prices may drop as the rainy season progresses, improving tomato yield from farms.

Pepper Prices Surge to ₦2,500 Per Small Basket

The cost of pepper has remained high, with a small basket now selling for ₦2,500, up from ₦1,500–₦1,800 just a few weeks ago.

The price of a big basket of pepper ranges between ₦15,000 and ₦20,000, depending on quality and market location.

Price Of Bag Of Beans

Beans: The cost of beans has also declined. In Kaduna State, a 100kg bag of white beans, formerly priced at ₦160,000, now sells for approximately ₦88,000. Similarly, in Lagos markets, a paint bucket measure of beans has dropped from ₦12,000 to ₦6,500.

Price Of Yam

Yams: The influx of new yams into the market has led to reduced prices. In markets across Benue State, 10 tubers of yam, previously priced between ₦12,000 and ₦18,000, now sell for ₦10,000 to ₦15,000. This decrease is reflective of the harvest season’s impact on supply.

Price Of Maize, Millet And Sorghum

Maize, Millet, and Sorghum: Grain prices have seen a downward trend. In Kaduna State, a 100kg bag of maize, which sold for ₦70,000 to ₦75,000 during the harvest period, now costs ₦47,000. Millet and sorghum prices have similarly decreased, with current prices ranging between ₦50,000 and ₦51,000 per 100kg bag.

Price Of Palm Oil

Palm Oil: The price of palm oil has experienced a reduction. In Benue State, a liter of palm oil, previously priced at ₦2,500, now sells for ₦1,800. This change is indicative of increased supply and market adjustments.

Price Of Semovita

2.5kg Semovita – ₦3,700

12kg Semovita – ₦12,300

Factors Responsible For The High Cost Include:

Inconsistent supply from Northern Nigeria, where a majority of the country’s pepper is grown

High transportation and logistics costs

Unfavorable weather conditions affecting crop yield

Factors Affecting Food Prices In Nigeria

While rice prices have slightly dropped, the overall cost of food remains high due to:

Inflation: Nigeria’s food inflation rate remains in double digits, affecting affordability.

Fuel Prices: Increased fuel costs have raised transportation expenses for food distribution.

Insecurity in Farming Regions: Banditry and farmer-herder clashes in Kaduna, Benue, Zamfara, and Plateau States have disrupted agricultural activities.

Seasonal Variations: Off-season farming leads to a reduced supply of perishable goods.

Foreign Exchange Rates: The depreciation of the naira affects imported food items and farm inputs like fertilizers and machinery.