Local Palm Oil prices spike: 20 litres of local palm oil rose by 60% from N9,200 to N14,700 – Nairametrics

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The latest Nairametrics Household Food index reveals prices of items under our watchlist rose 1.9% for the fortnight ended July 8th 2017. Nairametrics Food Price Survey is an unofficial tracker of prices of household food and related items in select markets within Lagos.

Highlights of Week ended July 8th 2017

  • Household Food prices rose by 2.1% for the week ended July 8 2017. This compares to the -0.36% contraction recorded in the week ended June 24th 2017.
  • This week’s rise was driven Palm Oil prices. 20 litres of local palm oil rose by 60% from N9,200 to N14,700.
  • 30 litres of Palm Oil also rose 22% from N13,800 t0 N16,800 for the period under review.
  • We also observed a slight drop in the price of 12.5kg gas from about N4,500 for a refill to N4,000 per refill.
  • The price of one big size tuber of yam dropped 8% while that of a small size dropped by 14%
  • We however observed stable prices for other food items within our tracker

Palm Oil Prices since April 2017

  • 30 litre Palm Oil price has been stable throughout April and May before contraction began towards the end of May and June.
  • However, we observed a gradual spike at the end of June.
  • Same was observed with 20 litre palm oil which rose sharply in July compared to prior weeks.

See table

Food Prices

Item Brand Unit 24/6/2017 8/7/2017 % Change from 2 wks ago Location
Baby Milk SMA Gold 500g 2,750.00 2,750.00 0.00 Ojuwoye Market
Baby Milk NAN 500g 2,000.00 2,000.00 0.00 Ojuwoye Market
Bag of Beans Oloyin 50kg 17,500.00 17,500.00 0.00 Iddo Market
Bag of Beans White 50kg 16,500.00 16,500.00 0.00 Iddo Market
Bag of Beans Brown 50kg 17,000.00 17,000.00 0.00 Iddo Market
Bag of Flour Dangote 50kg 11,200.00 11,200.00 0.00 Aguda Market
Bag of Flour Honey well 50Kg 11,200.00 11,250.00 0.00 Aguda Market
Bag of Flour Mama Gold 50kg 11,200.00 11,250.00 0.00 Aguda Market
Bag of Garri Ijebu 80kg 32,000.00 32,000.00 0.00 Ago Ishaga Market
Bag of Garri White 50kg 18,500.00 18,500.00 0.00 Ago Ishaga Market
Bag of Garri Yellow 50kg 18,000.00 18,000.00 0.00 Ago Ishaga Market
Bag of Rice Basmati 5kg 3,800.00 3,800.00 0.00 Daleko Market
Bag of Rice Mama Gold 10kg 3,500.00 3,500.00 0.00 Daleko Market
Bag of Rice Royal Stallion 50Kg 16,500.00 16,500.00 0.00 Daleko Market
Bag of Rice Rice Master 10kg 3,500.00 3,500.00 0.00 Daleko Market
Bag of Rice Mama Gold 50kg 16,500.00 16,500.00 0.00 Daleko Market
Bag of Rice Caprice 50kg 16,500.00 16,500.00 0.00 Daleko Market
Bag of Rice Falcon 25kg 8,500.00 8,500.00 0.00 Daleko Market
Bag of Rice Ofada 5kg 2,900.00 2,900.00 0.00 Ago Ishaga Market
Bag of Sugar Dangote 50kg 19,800.00 19,800.00 0.00 Aguda Market
Basket of Potato Sweet Big Basket 400 400 0.00 Iddo Market
Basket of Potato sweet Small Basket 200 200 0.00 Iddo Market
Basket of Potato Irish Big Basket 1,300.00 1,300.00 0.00 Iddo Market
Basket of Potato Irish Medium Basket 800 800 0.00 Iddo Market
Basket of Potato Irish Small  Basket 400 400 0.00 Iddo Market
Basket of Tomato Oval Shaped 1 Small Basket 5,800.00 5,800.00 0.00 Ago Ishaga Market
Basket of Tomato Round Shaped 1 Small Basket 6,800.00 7,000.00 0.03 Ago Ishaga Market
Bottled Water (Refill) Cway Refill 550 550 0.00 Ojuwoye Market
Bread Val-U 1 loaf 300 300 0.00 Ojuwoye Market
Bread Butterfield 1 loaf 300 300 0.00 Ojuwoye Market
Bunch of Plaintain Plaintain 1 Big Bunch 1,100.00 1,100.00 0.00 Idi-Oro Market
Carton of Noodles Indomie 120g 2,900.00 2,900.00 0.00 Ojuwoye Market
Carton of Noodles Indomie 70g 1,800.00 1,800.00 0.00 Ojuwoye Market
Carton of Noodles Chikki 100g 2,100.00 2,100.00 0.00 Ojuwoye Market
Carton of Noodles Minimie 70g 1,600.00 1,600.00 0.00 Ojuwoye Market
Carton of Noodles Golden Penny 70g 1,750.00 1,750.00 0.00 Ojuwoye Market
Cocoa Beverages Milo (Tin) 500g 1,000.00 1,000.00 0.00 Ojuwoye Market
Cocoa Beverages Milo (Tin) 900g 1,900.00 1,900.00 0.00 Ojuwoye Market
Cocoa Beverages Milo Refill 500g 950 950 0.00 Ojuwoye Market
Cocoa Beverages Bournvita Refill 500g 850 850 0.00 Ojuwoye Market
Cocoa Beverages Bournvita (Plastic) 500g 950 950 0.00 Ojuwoye Market
Cocoa Beverages Bournvita (Plastic) 900g 1,600.00 1,600.00 0.00 Ojuwoye Market
Cocoa Beverages Ovaltine Refill 500g 850 850 0.00 Ojuwoye Market
Cocoa Beverages Ovaltine(Plastic) 500g 900 900 0.00 Ojuwoye Market
Coffee Nescafe Gold Blend 100g 1,600.00 1,600.00 0.00 Ojuwoye Market
Coffee Nescafe Classic 50g 550 550 0.00 Ojuwoye Market
Egg N/A Crate 1,100.00 1,100.00 0.00 Ojuwoye Market
Gallon of Palm Oil Local 5 Litres 2,300.00 2,400.00 0.04 Ago Ishaga Market
Gallon of Palm Oil Local 20 Litres 9,200.00 14,700.00 0.60 Ago Ishaga Market
Gallon of Palm Oil Local 30 Litres 13,800.00 16,800.00 0.22 Ago Ishaga Market
Gallon of Vegetable Oil Local 5 Litres 2,400.00 2,400.00 0.00 Daleko Market
Gallon of Vegetable Oil Local 20 Litres 14,700.00 14,700.00 0.00 Daleko Market
Gallon of Vegetable Oil Local 30 Litres 16,800.00 16,800.00 0.00 Daleko Market
Gallon of Vegetable Oil Kings 5 Litres 3,400.00 3,400.00 0.00 Daleko Market
Gallon of Vegetable Oil Wesson 5 Litres 4,500.00 4,500.00 0.00 Daleko Market
Gallon of Vegetable Oil Mamador 3.8 Litres 3,100.00 3,100.00 0.00 Daleko Market
Gallon of Vegetable Oil Power 3 Litres 2,500.00 2,500.00 0.00 Daleko Market
Gas Refilling 12.5kg 4,500.00 4,000.00 -0.11 Aguda Market
Gas Refilling 5kg 1,800.00 1,800.00 0.00 Aguda Market
Juice 5 Alive 1 litre 400 400 0.00 Ojuwoye Market
Juice Chivita 1 litre 400 400 0.00 Ojuwoye Market
Magarine Blue Band 450g 450 450 0.00 Ojuwoye Market
Magarine Simas 250g 180 180 0.00 Ojuwoye Market
Milk Peak  Powdered (Tin) 400g 1,150.00 1,150.00 0.00 Ojuwoye Market
Milk peak Powdered(Tin) 900g 1,900.00 1,900.00 0.00 Ojuwoye Market
Milk Peak milk (Refill) 500g 950 950 0.00 Ojuwoye Market
Milk Dano Powdered (Tin) 500g 900 900 0.00 Ojuwoye Market
Milk Dano Powdered(Tin) 900g 1,650.00 1,650.00 0.00 Ojuwoye Market
Milk Dano (Refill) 500g 800 800 0.00 Ojuwoye Market
Milk ThreeCrown (Refill) 380g 800 800 0.00 Ojuwoye Market
Milk Loya Powdered (Tin) 400g 800 800 0.00 Ojuwoye Market
Milk Loya (Refill) 400g 750 750 0.00 Ojuwoye Market
Milk Coast (Refill) 500g 700 700 0.00 Ojuwoye Market
Packet of Pasta Golden Penny 500g 200 200 0.00 Ojuwoye Market
Packet of Pasta Dangote 500g 200 200 0.00 Ojuwoye Market
Packet of Pasta Power 500g 200 200 0.00 Ojuwoye Market
Packet of Pasta Bonita 500g 250 250 0.00 Ojuwoye Market
Percentage average     384,490.00 392,690.00 0.02
Sugar St’ Loius Sugar(Cube) 500g 400 400 0.00 Ojuwoye Market
Sugar Golden Penny Sugar (cube) 500g 300 300 0.00 Ojuwoye Market
Tea Lipton Yellow label 52g 220 220 0.00 Ojuwoye Market
Tea Top tea 52g 190 190 0.00 Ojuwoye Market
Tuber of Yam Abjuja 1 Big Size Tuber 1,300.00 1,200.00 -0.08 Iddo Market
Tuber of Yam Abuja 1 Small Size Tuber 700 600 -0.14 Iddo Market

 

 

(Nairametrics)

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