Rice now sells for N17,500 per bag as eid-el-kabir approaches

- The price of local and imported food items have continued to rise in various markets

- Traders attribute the prices to the rise in dollar and restriction placed on imported commodities

As the economy bites harder, prices of local and imported food items have continued to rise. A visit to the Mile 12 market by Legit.ng revealed how prices of commodities have continued to soar.

Traders have also attributed the exorbitant prices to the high rate of dollar and the restriction placed on importers of certain food items. This week, we begin our weekly price check by visiting some markets in Lagos.

Below are the prices of some essential food items in three markets namely, Mile 12, Ketu and Ikosi.

Augustine Eze, a trader who sells foodstuffs like rice, beans, garri, groundnut-oil, crayfish, egusi and ogbono explained the price of the items to our correspondent in details.

He said: “The price of egusi now has changed. But there is a new one in the market which ensured that the price of the regular ones has reduced.

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“The price of the stuff has reduced due to the large quantity of the new egusi in the market. Before now, a paint (plastic) of egusi was sold for N1,100 but now it costs N900. The bag which cost about N40,000 before is now being sold at the rate of N35,000, depending on the size of the bag (either big or small).

“For ogbono, the price increased to N120,000 per bag in the month of May, and then it reduced to N47,000. But due to the exchange rate of dollar now, the price has increased to N85,000. A derica costs N1,200 as against the N800 for which people bought in previous months.”

Speaking further, Augustine informed that crayfish has not had any fixed price, explaining that ‘signals’ from the people who bring crayfish from the sea determines the amount they sell.

For instance, a paint (plastic) of the commodity was sold for at least N2,500 but costs a reduced N1,500 presently.

He added: “A 25-litre gallon of Kings groundnut oil was sold at N10,000 before but sells for at least N13,500 presently. Depending on the quality and the brand. The higher the quality of the oil, the higher the price. Also 25 litres of palm oil, that was sold from N7,000 before, now sells from N9,000.

"A bag of garri costs N7, 000 depending on the colour and the cost of transportation. And a paint (plastic) now sells for N600 but was sold at N350 few months ago. While a bag of rice which was sold for about N12, 500 before, now sells for N17, 500 depending on the brand and quality as well."

Meanwhile there is no fixed price for beans. He said: “We have beans of N14, 000, N17,000, N27,000, and so on. Sometimes the type of beans and the size of the bag would determine the market price.

"Those who are buying paint before now buy derica or cup. The way things are, people are managing due to scarcity of money."

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Sade Ayanwo, who sells tomato paste and ingredients like sauce, spices, maggi, curry and so on attributed the high price to the rise in dollar lately.

According to her, the price of some items increased a bit while others had gone high.

“A carton of gino tomato paste sells for N3,200 now but before it is sold from N2, 000 and above. While other locally produced tomato paste like ric-giko,Peppie, tasty-tom and more is sold from N2,200 and above now but sold at N1,800 before. This depends on the location where it is purchase , resell, the market and the seller. And a sachet of these tomato pastes that was sold at N40 before now sells at N50 while the ones sold at N50 now sells at N60.

"A pack of Knorr cubes that was sold N400 before, now sells from N450. A carton of Spaghetti like Golden penny that was sold for N2000 now sells from N 3,200 and above.

"But this price sometimes is influenced by the choice of the trader," she added.

Meanwhile fresh tomatoes have become cheaper as observed in the market lately but pepper remains expensive.

We will continue with the price check next week.

Source: Legit.ng