#BounceFoodPriceReview: Food Prices Remain Stable Despite Yuletide
Things didn’t change much in the food kingdom despite expected surge in demand ahead of Christmas festivities.
Recall that during Bounce News' November food price review, prices had gone on a downward spiral as new crops flooded into the market upon harvest resumption across the country.
Now in December, prices have remained largely unchanged across various segments.
The price of the major staple, rice, which is touted as the reason for the season, has seen a major decline since November. But even as demand surged in December, prices remained stable at 14,000 naira per 50KG bag.
Also Read: Low Prices Hit Nigeria Food Market
However, prices vary across different cities in the country. A Bounce News reader in Port Harcourt said a 50KG bag of the grain goes for between 19,000 and 23,000 naira.
Another Bounce reader in Kaduna said 50KG bag of the commodity goes for 18,000 naira while another reader in Aba (Abia State) said prices of 50KG goes for 18,500 naira.
But in Lagos, prices of the commodity remain low for both the local and imported variety. As a matter of fact, the local variety subsidized by the Lagos State government, the Lake Rice – sells for 12,000 naira per 50KG.
*Vegetable oil (Ororo) is measured in plastics water cans
Another commodity which is usually in high demand this season is the vegetable oil, also known as ororo by locals.
The price of ororo has not changed a bit. As at the time of filing this report, 0.7ml of Ororo goes for 400 naira; one and half litres (size of big Eva water bottle) goes for 800 naira while two and half litres sell for 1,100 naira.
In the same vein, five and 25 litres of the product could be bought at 2,200 and 11,500 naira respectively.
In the protein segment, chicken always is the main culprit during this season especially among low and middle-income households.
In the frozen chicken segment, prices remain stable with 1 kilogram still selling for 1,300 naira as it had from the second quarter of this year.
*Many Nigerian households will rely on these type of caged chickens for meat on Christmas day
Meanwhile, live chickens have added a bit in value selling for between 1,700 and 2,000 naira depending on the size. Before this month, the price of an average-sized live chicken sold for between 1,500 and 1,800 naira.
During Bounce News' visit to the beef segment at Century market in Okota, it was almost empty. Price crash may be in the horizon if poor patronage persists. In the meantime, 1-kilogram still sells for 1,500 naira.
*Price of beef has remained largely stabl
However, the toast of the moment are spices and vegetables. From tomatoes to onions and pepper - prices are on the rise.
A hand bowl of tomatoes containing 7 averaged sized fresh balls now sells for between 500 and 700 naira as against the 400 naira it sold in November.
More so, fresh pepper has also doubled in price as a small hand bowl which sold for 200 naira in November now goes for 400 naira.
Much is the same for onions where average sized onion balls (5) now sell for 200 naira as against 150 naira it sold in November.
Also Watch: Nigeria Has Reopened For Business – Afrinvest