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Round shaped tomatoes prices on sharp rise-Survey

Round shaped tomatoes prices on sharp rise-Survey

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Nairametrics Research on Household Food Items conducted from major markets in Lagos State reveals a general increase in prices for the week ended May 5, 2018.

Our composite Household basket was  ₦332,580 compared to  ₦329, 680 for the period ended April 21st, 2018. This is also one of the highest basket prices we have recorded in recent weeks.  Data from the survey reveals a general price increase of about 0.01% from the last period.

Nairametrics Household Food Index tracks prices from Daleko, Iddo, Ago Ishaga, Ojuiwoye, Idi Oro and Aguda Market.

Price changes

  • There were no noticeable price changes for about 82 items on our price list
  • We only recorded a price drop for 1 item on the list, which was Egg (Crate).
  • A crate of eggs dropped from  ₦1100 to  ₦1,000 in the period under review.
  • A Basket of Tomatoes (Round Shaped) increased sharply from  ₦4,000 to  ₦7,000 compared to  ₦2,700 in our base period.
  • Round Shaped Tomato prices are now very high while those of Oval Shaped Tomatoes still remain the same at  ₦5,500, since December 2017.
  • Palm Oil prices are still  ₦12,200 from the  ₦14,200 recorded in our base period.
  • Gas Refill (5kg) has remained the same at  ₦1,700 since December 2017. This same 5kg sold for  ₦2,400 in our base period.

Key Takeaways

  • Round Shaped Tomatoes surprisingly increased by  ₦3000 jumping from  ₦4,000 to  ₦7000 in a space of 2 weeks.
  • Information from various locations reveals most food prices have remained either stable or dropping since the last quarter of 2017.
  • Most market women attribute this drop to better harvest season last year and that they have not had shortages of food items.
  • The last increase in the pump price of fuel has had marginal effects albeit for some food items but not enough to cause a jolt in prices since then.
  • Of all prices, we have seen a general price drop for items such as yam, potato, garri and rice from our base period.
  • Since these are the staple food items mostly consumed by Lagosians nay Nigerians, then, it is a cheering development.

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