Prices Of Rice, Beans, Food Items Fall

Prices of food items across Nigeria have mostly fallen due to factors like seasonal harvests, imports, and government policies.

The cost of rice has fallen in recent weeks. A 50kg bag of locally milled rice, which used to sell for ₦80,000 to ₦90,000, now costs between ₦65,000 and ₦70,000 in Lagos markets like Alaba Rago. This drop is partly due to more rice imports and a stronger naira.

The price of beans has also gone down. In Kaduna State, a 100kg bag of white beans, once sold for ₦160,000, is now about ₦88,000. Similarly, in Lagos, a paint bucket measure of beans has dropped from ₦12,000 to ₦6,500.

Tomato prices have decreased because of the harvest season. In Benue State, a big basket of tomatoes, which used to cost ₦45,000, now sells for ₦30,000 to ₦35,000. Other states, such as Abia and Imo, are seeing similar price drops.

A fresh supply of yams in the market has led to lower prices. In Benue State, 10 tubers of yam, previously sold for ₦12,000 to ₦18,000, now cost between ₦10,000 and ₦15,000. The new harvest has increased availability, making yams more affordable.

The prices of grains like maize, millet, and sorghum have dropped. In Kaduna, a 100kg bag of maize, which was ₦70,000 to ₦75,000 during harvest, now sells for ₦47,000. Millet and sorghum prices have also declined, with a 100kg bag now going for ₦50,000 to ₦51,000.

Palm oil prices have decreased as well. In Benue, a liter of palm oil that used to cost ₦2,500 now sells for ₦1,800. Increased supply has contributed to this price drop.

The changes in food prices are due to seasonal harvests, import policies, and currency fluctuations. While some items are now cheaper, others remain costly due to production expenses and supply challenges. Shoppers are encouraged to monitor market prices and adjust their spending accordingly.

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