Foodstuff Prices Remain High Despite Harvests

The prices of staple foods in markets
around Lagos metropolis are still high in
spite of the fact that majority of the produce
are within their harvesting period.

A visit to some major markets in the
metropolis on Friday showed that a bag of
potatoes, cocoyam and maize sell for N8,000
each respectively.
The least retail prices for about four or five
tubers of each item sells for N200
depending on the sizes. At Iddo market in
Mainland Local government, a bag of beans
sells for N48,000 and N49, 000 while a paint
bucket sells for N1,300 and N1,350 and
derica cup, N350 and N360 respectively.
A 50kg bag of rice at Iddo market sells for
between N15,000 and N15,500.While a bag
of garri goes for N22,000, paint bucket
N900 and N1,100.
Also, at Mile 12 Market a tuber of yam, old
stock depending on the size sells between
N500 and N2,500 while the new stock sells
between N800 and N1, 500.
Mrs Iyaani Subaru, a corn seller, at Jakande
Fruit Market, Ketu, said that traders were not
the cause of the high prices as they display
their goods depending on how they bought
from the wholesalers.
“Those who bring in corn in bulk to Lagos
do not do so often as they explained that
they noticed that when the goods are many
in the market their profits reduced, so they
restrict supply to control prices.
“Today a bag of corn is N8, 000. I have to
sell to recover the cost price and make
something on top,” she said.
Mallam Dangoya Aboki, a yam seller at Mile
12 Market, said that ‘correct big old tuber of
Abuja yam’ sells N2,000, N2,200 while the
small ones sell N1000.
“People still prefer old yams to new ones by
this time of the year. The reason being that
old yam taste better than new ones.
“Besides, new yam is coming out gradually
and you can get big tuber of Abuja yam at
N1,500.
“Generally everything in the market is costly
and it has affected yams also.
“Perhaps, by August ending the prices of
new yam will reduce,” he said.
Mr Sule Aliyu, a bean seller at Iddo Market,
said that price of beans had not been stable
since 2016.
“Today brown beans sells for N48, 000 a
bag while Honey beans sell for N49,000 a
bag.
“There was a period it came down to
between N40,000, N42,000, N45,000 and
46,000 per bag.
”Then, we sold Derica cup for N25, N26, N27
and N28, while paint bucket went for
between N250 and N280.
“”If you come tomorrow and the new stock
comes cheaper we will reduce the price to
reflect the current price,” he said.

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