Food Price Drops By 15% After Harvest
There has been a decrease in the past three months following the harvest recorded by farmers. Traders and farmers have recorded a 15% decrease in price in the space of three months.
A 50 kilogramme bag of local variety of rice was sold for N13, 000; as against its previous price of N15,000, while a measure of the produce was sold at N650.
Refined rice had also indicated similar decrease in prices, as a 50 kilogramme bag sold between N15,000 and N15,500; as against its old price of N17,000, depending on its quality.
Prices of other produce had dropped significantly in the past months; as a measure of maize sold at N280 and millet N350, as against its previous prices of N350 and N500 respectively.
A measure of cooking oil was sold at N380 as against its old price of N500; while perishable produce such as tomatoes and onions showed similar decrease in prices.
A measure of tomatoes was sold at N200 and onions N120.
Traders at the markets attributed the drop in prices to improvement in the supply of food items to the market.
