4 December 2012

Nigeria: Food Items Prices Soar As Yuletide Approaches

A survey conducted in major markets in the Federal Capital Territory (FCT), on Saturday indicates a slight increase in the prices of food commodities.

The News Agency of Nigeria (NAN), findings showed that most major food items experienced slight increase in prices as the Christmas season sets in.

In Nyanya market, a bag of 50kg rice now sells for between N10,500 and N11,000 as against N10,000 sold in October and early November.

A bag of white garri now sells for N8,000, while a bag of red garri is now selling for between N9,000 and N10,000; as against N7,000 and N8,000, respectively .

A bag of millet now sells for N10,000 as against last month's price of N9,000.

A small dust bin baskets of Irish potatoes and tomatoes sells for N700 and N800 as against N600 and 700, respectively.

Also a dust bin basket of pepper is now selling for between N500 and N600 as against its former price of N400 and N500, while a three-litre tin of Turkey vegetable oil which previously sold at N1,100 and sells for N1,120, is now selling for N1,200.

Mr Kinsley Agbo, a beans seller in Utako market said that a bag of brown beans was selling for N29,000, while white beans sold for N20,000.

Agbo added that he could not predict how the price would be in the future as the Christmas season was fast approaching.

He explained that the increase in prices of commodities was attributed to the unstable due to scarcity of fuel and unstable price, including poor conditions of roads and other charges.

He said that these factors also affected the prices of other items in the market.

"You will agree with me that it is never intentional for us to hike prices of things; it is because of what we are passing through.

"This is the reason why the prices keep increasing."

Agbo said that a "mudu" of beans at present was selling for between N450 and N500, lower than the price in the harvest period.

Mr Sani Ali, an onion seller said that a bag of onion was sold for between N19,000 and N29,000, depending on the size of the bag.

Miss Joy Gabriel, a yam seller said prices of yam were sold depending on their sizes.

She said that five tubers of the smaller size, which was sold at N800 last month, had now increased by 20 per cent, while the bigger sizes had also increased by the same percentage.

Traders attributed the slight change in the prices of food items to the harvest season.

They however said that as the new farm produce arrive the markets, the prices of the old ones would fall.

Mr Mustapha Ismail, a trader in grains said that even though the prices increased slightly, prices would still rise because of the Christmas season and the rush to buy things by consumers.


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