Prices of flour, rice, beans, tomatoes, pepper, others jump, as low patronage hits major markets

Despite the ease of lockdown in the country, the prices of household items continue to trend upwards, as traders across Lagos markets have once again lamented the sustained decline in patronage. This is according to the latest Household Market Survey conducted by Nairalytics, the research arm of Nairametrics.

The persistent increase in the price of food items across major markets in Lagos State continues to hit harder on consumers, as local and foreign rice, tomatoes, pepper, flour amongst others, recorded significant surges in their prices.

According to the latest report, a 50kg bag of Mama Gold flour that was initially sold for an average of N11,575, now sells for an average of N16,500 – a 42.6% increase. Also, a 50kg bag of Mama Gold rice now sells for an average of N28,875, as against N24,375 recorded two weeks ago.

The survey further shows that a big bag of pepper increased by 23.1%, to sell for an average of N16,000, compared to an initial average of N13,000. A big basket of round-shaped tomatoes, now sells for an average of N12,000.

The report contains information on items that witnessed price increase, price decrease, as well as information on special markets, and insights.

Items that witnessed price increase

Listed below are the items that recorded significant price increase:

A 50kg bag of Honeywell flour increased by 24.7%, from an initial average of N11,525 to sell for N14,375, while Mama Gold brand sells for an average of N16,500.

A 50kg bag of Dangote flour now sells for an average of N14,333, compared to N11,067 recorded a fortnight ago.

A big bag of pepper that was initially sold for an average of N13,000, now sells for an average of N16,000 – a 23.1% increase.

A big basket of round shaped tomatoes increased by 9.1% to sell for an average of N12,000, compared to an initial average of N11,000.

The cost of a big basket of oval shaped tomatoes spiked by 14.3%, from an initial average of N7,000 to sell for an average of N8,000.

A 50kg bag of Mama Gold rice now sells for an average of N28,875, from an initial average of N24,375 – a 18.5% increase.

A big bag of brown beans increased by 8.6%, from an initial average of N30,375, to sell for an average of N33,000.

A 5-litre gallon of vegetable oil that was sold for an average of N2,525 two weeks ago, now sells for N2,750 – 8.91% increase.

A bag of bush mango seeds (Ogbono) increased by 5% to sell for an average of N105,000. It was initially sold for an average of N100,000.

Items that witnessed price decrease

A 50kg bag of garri (Ijebu) that reduced by 5.31%, to sell for an average of N13,375, compared to an initial average of N14,125.

A big basket of sweet potatoes that was initially sold for an average of N18,000, now sells for N14,000 – a 22.2% decrease.

A 5-litre gallon of Kings oil now sells for an average of N3,000, as against N3,050 recorded last month.

A big bag of dry onions reduced marginally by 2.11%, to sell for an average of N34,750, compared to N35,500 recorded two weeks ago.

A big bag of new onions now sells for an average of N25,500, a 1.92% reduction, compared to an initial average of N26,000.

Items that maintained initial prices

Items whose prices remained the same, compared to two weeks ago include:

A crate of egg which continues to sell for an average of N1,200, same as recorded in the previous report.

A medium-sized basket of round shaped tomatoes continues to sell for an average of N7,000.

A 50kg bag of beans (Oloyin) sells for an average of N20,375.

A 400g tin of Peak Powdered Milk sells for an average of N1,200, while 900g still sells for an average of N2,363.

The various sizes of cartons of noodles maintained their initial prices – 305g Indomie (N3,150), 210g Indomie (N3,200), and 100g Chikki (N2,150).

500g and 900g Milo tins still sell for N1,038 and N2,125 on average respectively across the four markets.

A carton of Golden Penny Pasta sells for an average of N4,325.