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Business News of Thursday, 5 November 2020

Source: legit.ng

Bag of onions now sells for N70,000 from N48,000, price of tomatoes soar

Families groan over hiked price of tomatoes and onions Families groan over hiked price of tomatoes and onions

Some Nigerian families are groaning over the skyrocketing prices of tomatoes and onions in markets

A particular focus on markets in Enugu state shows that a basket of tomatoes is now between N15,000 and N17,500 as against N9,000 and N12,000

Also, a bag of onions is currently between N65,000 and N70,000 as against N48,000 and N50,000 in October

Some families in Nigeria are currently groaning over the prices of foodstuff in the various markets.

A correspondent with the News Agency of Nigeria (NAN), who visited some of the markets in Enugu state, southeast part of Nigeria, confirms that the prices of tomatoes and onions have significantly increased.

In a market survey she carried out on Thursday, October 5, it was revealed that prices of both commodities have increased when compared with a few weeks ago.

The report says the price of a big basket of tomatoes currently sells for between N15,000 and N17,500 as against N9,000 and N12,000 depending on the species.

Also, the price of a small basket of tomatoes now sells for between N10,000 and N13,500.

The report quoted Ego Madu, a tomato seller at the new Akwata Market, Garki, Enugu, as saying the increase in the price of the commodity is due to insufficient supply from the northern part of the country.

She said:

“The UTC specie that comes from Jos, which is supposed to have reduced in price from October is still scarce and expensive."She further explains that in October 2019, the UTC specie was sold for between N9,000 and N10,500; while the other species from Benue was sold for between N6,500 and N8,000.

Tochi Ezema, another tomato trader at Garki market, explained that the prices of the commodity may not reduce if the insufficiency in supply continues.

This is even when its season of abundance is getting close.

A customer at Mayor Market, Chris Odogwu, however, noted that though the price of tomatoes tends to reduce towards the end of the year, it was surprising that it was still high even though this is November.

The man urged the government to build storage facilities for the preservation of perishable items in the country so as to ensure price stability and availability at all times.

The report further quoted Ado Sani, an onion seller at New Garki Market, as lamenting that the significant increase in the price of the commodity was associated with other factors apart from seasonal changes.

According to him, these factors include bad roads, increase in transportation fare from the northern part of the country, as well as the recent Endsars protest.

He noted that a bag of onions is now between N65,000 and N70,000 as against N48,000 and N50,000 in October.

The report also quoted another onion seller at New Market, as saying he was forced to suspend trading in the commodity because his customers were seriously lamenting over the price.

He said:

"With the increase in the price of onions, I decided to stop buying and selling the commodity to my customers for now."Legit.ng had earlier reported that a survey across Lagos showing that prices of foodstuff have continued to increase ahead of the Christmas season.