Business
Prices of household items, others skyrocket as traders bemoan hike, seasonal scarcity
Adebayo Obajemu
For an average Nigerian, it is not yet Uhuru as they continue to grapple with economic difficulties as a result of the pandemic.
Already, prices of household items across major markets in Lagos state, have continued in to rise raising concerns and anxiety in the minds of hard-pressed consumers.
Staples such as beans, potatoes, palm oil, and melon recorded high hike according to the latest Household Market Survey carried out by Business Hallmark.
In the latest survey, price of a big bag of beans (Oloyin) jumped astronomically by 19.9% N24,875, up from an average of N20,750 two weeks ago. Also, a big basket of sweet potatoes initially which sold for an average of N14,500, jumped an average of N18,000 indicating a 24.1% increase in price within two weeks.
It was noticed that a few household items witnessed a slight decline in prices. A bag of white garri dropped to an average of N12,325 compared to N13,325 recorded last month, while a bag of yellow garri now sells for an average of N11,625.
Items that recorded price increase includes sweet potatoes.
A big of it that was initially sold for an average of N14,500 is now being sold for N18,000, indicating a 24.1% increase in price.
A big bag of melon that was initially sold for an average of N42,000 late in July is now being sold for an average of N46,500.
A 5 litres gallon of palm oil increased by 18.8% to sell for an average of N2,525 while a 25 litres gallon now sell for an average of N13,000 compared to N11,000 recorded last month.
5 litres gallon of vegetable oil sells for an average of N2,350 as against an initial average of N2,275, representing a 3.3% increase in price.
A bunch of plantain now sells for an average of N513 compared to N463 recorded in the last report.
The price of a big bag of Bush mango seed (Ogbono) spiked by 26.7% from N75,000 recorded two weeks ago to sell for an average of N95,000.
A big bag of melon now sells for an average of N46,500 compared to N42,000 recorded late last month.
A 50kg bag of foreign rice (Caprice) now sells for an average of N29,333 compared to N25,500 indicating 2.9% increase in price.
A 50kg bag of local rice also spiked by 5.1% to sell for an average of N23,125 compared to N22,000 recorded last month.
A 50kg bag of white beans that was initially sold for an average of N30,500 now sells for an average of N32,000. This represents 4.9% increase in price.
Some items witnessed a decrease in price. A big basket of round shaped tomatoes dipped by 3.3% to sell for an average of N14,500 compared to N15,000 initially recorded, while a
medium-sized basket of round shaped tomatoes also sells for an average of N8,500 from an initial average of N10,000 indicating a 15% reduction in price.
It was also noticed that a bag of white garri now sells for an average of N12,325, recording 7.5% decrease in price from an average of N13,325 while yellow garri sells for an average of N11,625.
A big nylon of crayfish that was initially sold for an average of N17,000 now sells for N13,000. It witnessed 25.5% reduction in price.
Some items have managed to maintain initial price, this includes a 10kg bag of Rice master still sells for an average of N4,000.
A carton of 210g sized of Indomie continues to sell for an average of N3,200 across Lagos markets.
The price of Ijebu garri remains unchanged as it still sells for an average of N13,375.
The prices of the frozen foods maintain their initial prices as a carton of full chicken and Chicken lap sells for an average of N12,500 while a carton turkey sells for N14,200.
A big bag of yellow maize still sells for an average of N19,667 while a big bag of white maize cost an average of N19,000.
Also, a big basket of an oval-shaped basket of tomatoes sells for an average of N12,000 while a small basket sells for an average of N7,500.
A big bag of pepper sells for an average of N7,500 while a medium-sized bag maintains an
average of N4,500.