The prices of essential foods such as beans, tomatoes, onions, and new yams have seen significant decreases in major markets in Abia and Imo, largely due to the harvest season.
A survey conducted by the News Agency of Nigeria (NAN) in Owerri showed that the price of a paint bucket of beans has decreased from ₦10,000 to ₦8,000 and ₦7,500, depending on the type.
With the new yam now flooding the market, its price has dropped substantially. A large tuber, which sold for ₦7,000 last month, is now available for ₦4,000. Medium-sized yams, previously priced at ₦5,000, now range between ₦3,000 and ₦2,500.
The price of a bucket of tomatoes has reduced from ₦15,000 to ₦8,000. However, the price of garri continues to rise, with a bag that was ₦40,000 last year now costing up to ₦68,000. Additionally, a small bucket of garri, previously ₦2,500, now sells for ₦3,500.
Garri sellers attribute the ongoing price increase to transportation costs. The price of rice remains high, with 50 kg of foreign brands selling for ₦90,000 and local brands ranging between ₦70,000 and ₦75,000.
In Umuahia, the capital of Abia, there has been a slight reduction in the price of red pepper. A basket now costs between ₦65,000 and ₦70,000, down from ₦95,000 and ₦100,000 a few months ago.
Ezinne Okafor, a local dealer, attributes this price drop to the influx of new harvests. She notes that competition from Ogoja and Ngwa peppers, which are now available, has driven prices down from ₦100,000 per basket a month ago.
Despite these drops, some staple food items have not seen price reductions. A bag of 50 kg of rice (local foreign) now costs between ₦80,000 and ₦85,000, up from ₦65,000 to ₦70,000 a few months ago. The price of a 75-kg bag of iron beans has increased to between ₦180,000 and ₦210,000, from ₦120,000 to ₦140,000. Additionally, a 75-kg bag of garri is now between ₦88,000 and ₦90,000, up from ₦85,000 to ₦87,000 earlier in the year.
The price of sweet potatoes has also risen to ₦75,000 from ₦50,000 about five months ago. Onions now sell for ₦120,000, compared to ₦85,000 and ₦90,000 in March.
Musa Yinusa, a trader, predicts that onion prices may reach ₦150,000 by December due to the market trend. He attributes the rising prices to transportation costs and insecurity in the north, where the commodities are grown.
A basket of round-seed tomatoes now costs ₦126,000, and Gboko tomatoes are priced at ₦70,000, compared to ₦100,000 and ₦65,000 respectively, about five months ago. Prices for eggs, vegetable oil, seasoning cubes, and tomato pastes have also increased.
A crate of eggs now ranges from ₦4,800 to ₦5,000, up from ₦3,900 to ₦4,200. A 25-litre container of vegetable oil costs ₦55,000, while a 5-litre container is priced at ₦11,000. A carton of tomato paste sells between ₦7,000 and ₦7,200.
The high cost of poultry feed is blamed for the rise in egg prices. The price of crayfish has increased to between ₦180,000 and ₦200,000, compared to ₦140,000 and ₦160,000 earlier this year.
In Aba, the commercial hub of Abia, foodstuff sellers at the New Market (Ahia Ohuru) report a slight decrease in the prices of yam, potatoes, onions, and tomatoes due to the harvest season. Some traders mentioned that rising fuel prices and transport fares are preventing residents from fully benefiting from the price drops.
Daniel Njoku, a yam seller, noted that a tuber of yam which was ₦4,000 two weeks ago is now ₦3,500, attributing this decrease to new yams from northern and southeastern regions. He expects prices to continue falling due to the harvest season, although high transportation costs might counteract these reductions.
Abbas Sani, who sells potatoes and onions, observed that food prices have dropped significantly in the north compared to the east. He mentioned that a bag of potatoes, previously ₦75,000, is now ₦60,000, and a basket of onions has decreased from ₦115,000 to ₦100,000. However, old onions remain priced at ₦130,000 per basket.
Ozioma Mbah, a tomato seller, reported that the price of Cameroon tomatoes has fallen to ₦22,000 due to the influx of Gboko tomatoes, which now cost ₦27,000. Transportation costs for these goods from the north to Aba amount to ₦10,000 per basket, with concerns that fuel price increases may further affect transportation costs.