According to traders, prices of food items in major markets in Imo and Abia States have recorded a marginal drop, arising from clement weather, favourable harvests, and other economic factors.
A cross-section of residents, including traders, market vendors, and civil servants, who spoke in separate interviews with the News Agency of Nigeria in the two states, described the development as temporary relief.
In Owerri, the respondents stated that the price drop might not be unrelated to the rainy season, which is gradually coming to an end.
They also said that the clement weather had helped both farmers and traders to preserve certain agricultural produce, such as tomatoes and pepper, leading to minor food losses.
A trader, Gladys Azubike, said that the stability in transportation costs also helped ensure price stability and a slight reduction.
Owerri Market survey
A market survey in the city shows that a basket of fresh tomatoes, sold for N40,000 over the last two months, has dropped to N38,000 and N35,000, depending on the quality.
A paint bucket of tomatoes, sold at N7,000, came down to N6,000, while a slightly bigger bucket, which sold at N8,500, is now N7,500.
A half-bucket of pepper, which previously sold for N4,000, now costs N2,500, while a small quantity, previously sold for N1,500, is now N500.
The sellers attributed the price reduction to a decline in rainfall, adding that tomatoes and peppers do better in the dry season.
Hamza Abubakar, who sells onions and tomatoes, said that price fluctuation is always occasioned by the availability or otherwise of an item in the market every season.
According to him, when tomatoes become cheaper, the price of onions goes up because they are more abundant at different times of the year.
Mr Abubakar explained that nothing could be done to sustain the price reduction of any item once its season is over.
A 50-kg bag of local rice, which sold for N65,000, is now priced at N60,000, while a 25-kg bag, which sold for N32,500, is now priced at N25,000.
Foreign rice, sold for as high as N90,000, is now N72,000 or N80,000, depending on the brand.
A custard bucket of beans, previously sold at N8,000, is now available for N5,000.
A custard bucket of garri, previously sold for N2,500, now costs N1,500.
The price of yams has remained relatively stable in the market since the harvest season.
Price situation in Abia
In Abia, a similar price situation also prevails across some food items in major markets in Umuahia and Aba.
Although some items recorded a slight price decrease, others went up marginally.
At Apumiri, Isi Gate and Ubani markets, prices of food items, such as rice, beans, garri and oil, dropped, while those of yams, tomatoes and onions went up slightly.
Traders attributed the variations to fluctuations in supply, seasonal factors, and transportation costs.
At the Apumiri Market, a 50-kg bag of local rice sells between N45,000 and N70,000, as against N55,000 and N75,000 two months ago.
Additionally, a bag of beans costs N95,000, as opposed to N110,000, during the same period.
Prices of oil also dropped slightly. Twenty-five-litre palm oil sells for N55,000 as against N58,000 and N60,000, while 25-litre groundnut oil goes for N57,000 as against N60,000 and N61,000.
A four-litre paint bucket of garri sells between N2,000 and N2,200 as against N3,000 and N3,400, earlier in the year.
However, prices of some items rose sharply, as a bag of onions increased to N90,000 from N75,000, while a basket of tomatoes rose to N60,000 from N40,000 and N45,000.
The price of chicken remained stable at N6,000 per kilo, while mackerel (fish) rose to N4,000 from N3,500 per kilo.
A carton of sachet tomatoes now sells for between N6,000 and N7,600, as against N6,000 and N7,800.
At Isi Gate, the price of a 50-kg bag of rice ranges from N50,000 to N70,000, as against the lowest price of N72,000 a few months ago.
A bag of beans costs N90,000 and slightly more, compared to N120,000 in August.
A four-litre paint bucket of garri goes for N2,000 as against N3,500 and N4,000, while onions rose slightly to N120,000 as against N100,000 per big bag, and corn remained stable at N60,000 per bag.
At the Ubani Market, a 50-kg bag of rice sells between N45,000 and N65,000, a significant drop from N90,000 two months ago.
A 25-litre keg of palm oil goes for N47,000, while groundnut oil sells for between N55,000 and N60,000.
Relief to families
Reacting to the price changes, a resident, Eucharia Ndukwe, said the slight drop had brought a brief relief to families.
“It is some relief that one can now buy three cups of good-quality rice for N1,000 and medium-sized yams for N2,000, enough to prepare a meal for a small family.
“With this, a poor family can feed on the little it has,” Mrs Ndukwe, a mother of four, said.
A trader, Esther Innocent, described the fall in the prices of staple food items as a welcome development.
She said her sales had improved compared to two months ago, adding that lower prices encourage customers to buy more.
A frozen food seller, Blessing Ola, blamed the steady rise in frozen food prices on multiple challenges in the supply chain.
Mrs Ola said that high transportation costs, fluctuations in the exchange rates and a “price monopoly” among major distributors were driving up wholesale prices, forcing retailers to sell at higher prices.
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She explained that an increase in fuel and logistics costs, as well as import-related expenses, directly affects market prices, making it difficult for traders to maintain stable pricing.
A civil servant, Alozie Nwamuo, said that the reduction in the prices of rice, beans, garri and oil indicates better supply and a drop in transportation costs.
Mr Nwamuo also stated that the sharp rise in the prices of onions and tomatoes was attributed to seasonal shortages, high production costs, weather-related challenges, and inadequate storage facilities.
Another civil servant, Ndubuisi Eke, stated that the price variation in different markets reflected differences in access to supply and distributor pricing.
Mr Eke urged government agencies to support farmers and improve transport and market monitoring to help stabilise food prices.
In Aba, foodstuffs sellers expressed delight over the prevailing price decline across some food items, which they attributed to the harvest season and availability.
They said the prices of the newly harvested farm produce were affordable, but complained that the prices of the old varieties were still high.
Perpetual Ndidi, who sells yams at Clifford Road Market, said that the old stock of Onitsha yams sells for N4,500 per sizable tuber, as opposed to N3,500 about three months ago.
She said the price of newly harvested Benue yams ranged from N500 to N800 and above.
She said that while the Ogoja yam goes for between N7,000 and N9,000 per tuber, Benue yam sells cheaper because they come in small sizes.
A garri seller, Serah Okezie, said that white garri now costs N1,200 per four-litre paint bucket, compared to N2,600 three months ago.
She also said that a four-litre paint bucket of red garri, which sold for N2,400 in August, now goes for N1,600.
Mrs Okezie also explained that six cups of white garri go for N500, while the red variety sells for N100 per cup.
She said that iron beans are N5,000 per four-litre paint bucket, and N350 per cup, while a paint bucket of Patasko beans is N4,500 and N300 per cup.
Mrs Okezie said that rice produced in the South-east and other stone-free Nigerian rice sells between N4,500 and N5,000 a paint bucket.
A rice seller, Junior Akpan, said a 50-kg bag of local rice now sells for between N56,000 and N60,000, as against N60,000 and N70,000 three months ago.
Mr Akpan said that foreign rice goes for between N70,000 and N80,000 per 50 kg bag, as against N80,000 and N90,000, depending on the brand.
The respondents, however, argued that the price drop was not yet enough to significantly reduce the cost of living.
