Nigerians experience slight drop in food commodities prices
Nigerians have heaved a sigh of relief as prices of food commodities have significantly dropped.
According to a survey carried out by SOCIETY WATCH , some traders attributed the price drop to harvest season.
At the Mararaba market, an outskirt of the FCT domiciled in Nasarawa State, findings by SOCIETY WATCH revealed notable reductions in prices.
A 50kg bag of foreign rice, previously sold for N88,000 to N90,000 in July, now sells for N83,000, while the local variety has dropped from N70,000 to N65,000.
White beans currently go for N130,000 per bag, while the brown variant is sold at N135,000.
In smaller quantities, a tier of white beans sells between N1,700 and N1,800, while brown beans cost about N2,000 per tier.
Meanwhile, findings further indicated that the price of all items is not trending downwards, as Soya beans have seen a slight uptick, from N80,000 in July to N85,000 in August.
A trader simply identified as Abdul attributed the fluctuation to seasonal factors.
He said, “There was a little drop between June and July, but now soya is going up again. Maybe it’s scarcity or transportation, but we just follow the supply.
The Chairman of the Tomato Sellers’ Association in the same market, Hamza Abubakar, said the influx of produce has altered market dynamics.
“Before now, a bag of UTC tomatoes went for between N90,000 and N100,000. Today, it’s N50,000,” he said.
He added that Darika tomatoes, which were sold for N65,000 to N70,000 three weeks ago, are now priced at N35,000 per bag, while a paint rubber of tomatoes came down from N15,000 to N13,000.
