Food Price Update – Price Of Onions Increases By 26% In Lagos Within The Past 1 Month

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Food items remain on the high in the past month, according to the reports gathered by BrandSpur in key markets across Nigeria, we saw prices fluctuate on weekly basis on different food commodities. 

The BrandSpur food index for the price of Onions rose by a whopping 26% in the last four weeks (October 12, 2017 – November 9, 2017)

 Here are the key highlights of our Food price check:

  • The prices of Garri (white), palm oil, Sorghum and Soya beans remain stable in the past one month, while the prices of onion (100kg bag) changes almost on a weekly prices with major hits in Lagos (+26%) and Ibadan (+35%) despite being an essential in almost every meal due to its taste and health benefits.
  • The constant increase in prices can mostly be attributed to distribution cost which is spread on each bag of these items as prices of food items in Kano remained relatively stable while prices of commodities like Garri moved from N9,500/ 60kg bag to N5,767, a dip of about -39%.
  • While several factors contribute to the prices of commodities in the market, retail prices of these food items vary from stall to stall in each market with different measurements being used in displaying the item.
  • Prices of food items/kg remain relatively stable across different markets in Nigeria, despite the rise at the wholesalers’ end, it is unbelievable that retailers are willing to spread the additional cost rather than adding it to existing prices. Only the price of onion had a significant increase in Lagos and Delta while the price of beans increased in Kano within the past 1 month.

WHOLESALE PRICE SUMMARY

DETAILSWHOLESALE
LOCATIONMARKETCOMMODITYBag (Kg)Price (N) Week 1Price (N) Week 2Price (N) Week 3Price (N) Week 4Index (Week 4 vs 1)
Oyo State.Bodija MarketDrum Beans (Olotu)100Kg39,00039,00038,83338,00097%
Garri (White)100Kg18,00016,66714,00014,00078%
Groundnut (Edible)100Kg29,33328,00028,00028,00095%
Maize (White)100Kg13,50010,7509,5009,50070%
Onion (Violet)100Kg30,83340,16741,500135%
Palm oil (Red)25Ltr14,00014,00014,00014,000100%
Rice (Imported)50Kg14,33315,21713,96713,25092%
Sorghum (Red)100Kg19,00019,00019,00019,000100%
Soya Beans100Kg18,83317,83317,50017,50093%
Kano State.Dawanau MarketDrum Beans (Olotu)100Kg24,40023,60022,80025,600105%
Garri (White)60Kg9,5009,5607,8005,76761%
Groundnut (Edible)100Kg19,00020,00021,46720,933110%
Maize (White)100Kg9,0509,7209,3339,100101%
Onion (Violet)100Kg8,2008,2408,0008,767106%
Palm oil (Red)25Ltr13,05012,84012,56712,13393%
Rice (Imported)50Kg13,45013,32013,40013,21798%
Sorghum (Red)100Kg14,80013,44012,86711,76780%
Soya Beans100Kg15,05014,40013,83312,90086%
Delta State.Igbudu MarketDrum Beans (Olotu)100Kg33,00033,00033,00033,000100%
Groundnut (Edible)100Kg37,00037,00037,00037,000100%
Maize (White)100Kg19,00019,00019,80022,333118%
Onion (Violet)100Kg20,00018,00018,40021,167106%
Palm oil (Red)25Ltr8,0008,0008,0008,000100%
Rice (Imported)50Kg17,00017,00017,00017,333102%
Sorghum (Red)100Kg23,00023,00023,00023,000100%
Soya Beans100Kg23,00023,00023,00023,000100%
Lagos State.Mile 12 MarketDrum Beans (Olotu)100Kg45,16745,00044,80045,000100%
Garri (White)60Kg17,00016,33315,40014,33384%
Groundnut (Edible)100Kg23,00022,50022,80024,833108%
Maize (White)100Kg15,00014,25015,20015,000100%
Onion (Violet)100Kg27,50034,75032,60034,571126%
Palm oil (Red)25Ltr9,5009,3339,2009,16796%
Rice (Imported)50Kg14,66714,50014,10013,60093%
Sorghum (Red)100Kg16,66716,00016,00015,50093%
Soya Beans100Kg15,83314,25015,00016,167102%
Enugu State.Ogbete MarketDrum Beans (Olotu)100Kg30,50029,66729,66729,50097%
Garri (White)100Kg13,50013,00013,00013,00096%
Groundnut (Edible)100Kg30,00030,50030,50035,600119%
Maize (White)100Kg18,00018,66718,66719,500108%
Palm oil (Red)20Ltr7,5007,5007,5007,500100%
Rice (Imported)50Kg16,25016,00016,00016,00098%
Sorghum (Red)100Kg20,00019,50019,50019,900100%
Soya Beans100Kg19,00019,41719,41719,800104%

 

RETAIL PRICE INDEX/KG

The table below gives more information on prices at the retail end of this period:

DETAILSRETAILER
   Week 1Week 2Week 3Week 4Index (Week 4 vs Week 1)
LOCATIONMARKETCOMMODITYP/kg (N)P/kg (N)P/kg (N)P/kg (N)
Oyo State.Bodija MarketDrum Beans (Olotu)445445445445100%
Garri (White)150139117117100%
Groundnut (Edible)248236236236100%
Maize (White)175138125125100%
Onion (Violet)533
Palm oil (Red)417533533533100%
Rice (Imported)20344443141797%
Sorghum (Red)247203203203100%
Soya Beans231225225100%
Kano State.Dawanau MarketDrum Beans (Olotu)250242234262112%
Garri (White)29029626926097%
Groundnut (Edible)23124326125497%
Maize (White)9298928997%
Onion (Violet)
Palm oil (Red)69767265663196%
Rice (Imported)286270272273100%
Sorghum (Red)14313012511290%
Soya Beans16215915414494%
Delta State.Igbudu MarketDrum Beans (Olotu)432432432432100%
Groundnut (Edible)486486486486100%
Maize (White)262262267286107%
Onion (Violet)328306310340110%
Palm oil (Red)533533533533100%
Rice (Imported)424424424428101%
Sorghum (Red)287287287287100%
Soya Beans311311311311100%
Lagos State.Mile 12 MarketDrum Beans (Olotu)405405405405100%
Garri (White)207207207207100%
Groundnut (Edible)303303303303100%
Maize (White)154154154154100%
Onion (Violet)250250250292117%
Palm oil (Red)533533533533100%
Rice (Imported)34132131029796%
Sorghum (Red)20819918217797%
Soya Beans26724223321894%
Enugu State.Ogbete MarketDrum Beans (Olotu)46442442441999%
Garri (White)259241241241100%
Groundnut (Edible)52854254245885%
Maize (White)258275275296108%
Palm oil (Red)533533533533100%
Rice (Imported)393387387387100%
Sorghum (Red)250238238248104%
Soya Beans223237237247104%

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