AVERAGE PRICE OF 1KG OF YAM TUBER DECREASED TO N211.61 IN DEC. 2017 FROM N212.27 IN NOV 2017 – NBS

Must Read

PepsiCo Elects Segun Agbaje To Board Of Director

PepsiCo, Inc. (NASDAQ: PEP) today announced its Board of Directors has elected Segun Agbaje as an independent member of...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...

FG to shut Third Mainland Bridge on July 24 for 6 months

The Federal Government is set to shut the Third Mainland Bridge for six months starting from Friday, July 24. This...

The National Bureau of Statistics, NBS, on Wednesday said that the price of yam decreased in December 2017, amidst exportation of the foodstuff to Europe.

Data released by the Bureau for December 2017 , tagged ‘Selected Food Price Watch’ revealed that the average price of 1 dozen of Agric eggs medium size increased year-on-year by 12.40% and month-on-month by 6.76% to N494.43 in December 2017 from N463.11 in November 2017 while the average price of piece of Agric eggs medium size(price of one) increased year-on-year by 4.88% and month-on-month by 1.24% to N41.32 in December 2017 from N40.82 in November 2017. 

The development came after the Nigerian government began to export yams to Europe and the United States, as part of moves to diversify its oil-dependent economy and earn much-needed foreign exchange.

Agriculture minister, Audu Ogbeh, who flagged off the first consignment of the fibrous tuber from the port in June 2017, said, “Oil and gas cannot employ millions of people just like agriculture so we must work hard to move from oil to earning foreign exchange from agriculture.”

- Advertisement -

“To make yam competitive, we will work on the packages and the right types of trucks to be used for transportation of the produce,” he had added.

Nigeria accounts for 61 percent of the world’s total yam output, according to the UN Food and Agricultural Organization, and Mr. Ogbeh said not all of it was consumed, leading to waste.

Brand Spur Nigeria on Tuesday reported that the NBS disclosed that the food inflation rate in Nigeria was lowest in Kogi, Bauchi, and Benue as recorded in the month of December 2017 on a year-on-year basis while Kwara (24.46%), Nasarawa (22.77%) and Yobe (22.60%) have the highest rate in the country. The rise in the index was caused by increases in prices of bread and cereals, potatoes, yam and other tubers, coffee tea, and cocoa, milk cheese and eggs, fish and oils and fats.

Read Also:  KANTAR MILLWARD BROWN PARTNERS WITH CUEBIQ TO PROVIDE MARKETERS WITH CRITICAL INTELLIGENCE ON OFFLINE ROI

Further analysis of the report showed that the average price of 1kg of tomato increased year-on-year by 3.51% and decreased month-on-month by -3.56% to N276.18 in December 2017 from N286.39 in November 2017.

- Advertisement -

Also, the average price of 1kg of rice (imported high quality sold loose) decreased year-on-year by -9.58% and increased month-on-month by 2.88% to N371.21 in December 2017 from N360.83 in November 2017.

Similarly, the average price of 1kg of yam tuber decreased year-on-year by -3.67% and month-on-month by -0.31% to N211.61 in December 2017 from N212.27 in November 2017. 

Read Also:  KANTAR MILLWARD BROWN PARTNERS WITH CUEBIQ TO PROVIDE MARKETERS WITH CRITICAL INTELLIGENCE ON OFFLINE ROI

CLICK HERE TO DOWNLOAD THE FULL REPORT…

- Advertisement -
AVERAGE PRICE OF 1KG OF YAM TUBER DECREASED TO N211.61 IN DEC. 2017 FROM N212.27 IN NOV 2017 - NBSAVERAGE PRICE OF 1KG OF YAM TUBER DECREASED TO N211.61 IN DEC. 2017 FROM N212.27 IN NOV 2017 - NBS

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

AVERAGE PRICE OF 1KG OF YAM TUBER DECREASED TO N211.61 IN DEC. 2017 FROM N212.27 IN NOV 2017 - NBSAVERAGE PRICE OF 1KG OF YAM TUBER DECREASED TO N211.61 IN DEC. 2017 FROM N212.27 IN NOV 2017 - NBS

Latest News

ESR completes APAC’s largest logistics warehousing project

388,570 sqm state-of-the-art distribution centre in Japan's Greater Osaka to set new standards for modern logistics properties HONG KONG, CHINA...

Tsimshatsui Overtakes Causeway Bay as the Most Expensive Retail District for First Time

Greater Central office availability reaches a 15-year high Grade A office rental declined for the fifth consecutive quarter with Greater Central rents down by 7.5% quarter-on-quarter, the...

Vodacom Tanzania: Send money to Tanzania from anywhere around the World

Over 200 countries can send and receive money via Vodacom's Tanzania M-Pesa.The mobile Money services continues to drive economic growth and financial inclusion in Africa.Dar es...

Accuity Helps Leading Banks in Pakistan Stay Ahead of Global Regulatory Requirements

Financial crime compliance solutions ensure that local banks can fight AML/CFT threats in real-time and better support economic growth ISLAMABAD, PAKISTAN / SINGAPORE - Media OutReach - 7 July...

PepsiCo Elects Segun Agbaje To Board Of Director

PepsiCo, Inc. (NASDAQ: PEP) today announced its Board of Directors has elected Segun Agbaje as an independent member of the Board. Mr Agbaje, 56,...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -AVERAGE PRICE OF 1KG OF YAM TUBER DECREASED TO N211.61 IN DEC. 2017 FROM N212.27 IN NOV 2017 - NBSAVERAGE PRICE OF 1KG OF YAM TUBER DECREASED TO N211.61 IN DEC. 2017 FROM N212.27 IN NOV 2017 - NBS