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Business News of Thursday, 15 October 2020

Source: www.mynigeria.com

Prices of major food commodities hit all-time high due to scarcity

A carton of turkey that was being sold for N17,333 in September 2020, is now sold for N18,333 A carton of turkey that was being sold for N17,333 in September 2020, is now sold for N18,333

The prices of some major food items in Lagos State has seen significant increase across major markets due to low harvest and scarcity.

According to Nairametrics, some of these items that increased in price as a result of the scarcity include chicken, turkey, tomatoes, melon and maize.

A carton of turkey that was being sold for N17,333 in September 2020, is now sold for N18,333.

Due to scarcity, a carton of full chicken that was sold for N14,000 two weeks ago now sells for N14,500, reports Nairametrics.

A big bag of yellow maize was previously sold for N17,667, but the price is now N20,167. While a bag of white maize that was sold for N17,000 now sells for N20,000.

A big bag of pepper is being sold for N17,000, while a medium-sized bag sells for N9,000.

A big basket of oval-shaped tomatoes that was being sold for N16,000 now sells for N17,000 at Mile-12 market.

The prices of food items increased in Lagos due to scarcity.Photo credit: SustyVibes
Source: UGC

In September 2020, a big bag of melon was sold for N38,000, but it is now sold for N46,500.