Eid-El-Kabir: Food prices surge, as ram traders decry low patronage

Eid-El-Kabir celebration is here again and Nigerians are ready to join their families and friends in the festivities. Every year, as Muslim faithfuls across the world celebrate Eid-El-Kabir, the acts of buying and slaughtering rams are sine qua nons of the celebration and a form of sacrifice to Allah (S.A.W).

Nairametrics Research visited major markets for a ‘Special’ household market survey and found that ram/cow prices have typically ramped up. Meanwhile, traders lamented low patronage and sales.

Also, major food items across main markets in Lagos State have continued to increase in price. Staples such as rice, beans, yam, garri, potatoes, and others, recorded significant jumps in prices when compared to figures obtained two weeks ago. As Nairametrics reported in the previous market surveys, prices of food items have been recording a significant increase since the COVID-19 induced lockdown disrupted major economic activities.

According to the latest survey, a big basket of oval-shaped tomatoes now sells for an average of N12,000, indicating a 20% increase compared to N10,000 recorded two weeks ago. Also, a big basket of sweet potatoes which previously sold at N8,000, jumped by as much as 81.3% to sell for an average of N14,500.

The report detailed items that recorded an increase in price, items that decreased in price, items that maintained initial prices, special market reports, and key insights.

Items that witnessed price increase

Some of the items that recorded significant increases in price include:

• A big bag of melon seeds (Egusi), which was sold for an average of N39,000, now costs an average of N42,000. This represents a 7.7% increase in price.
• The price of a big bag of dry onions now goes for an average of N25,000 compared to an average of N17,000 recorded two weeks ago, thus indicating a 47.1% increase in price.
• The price of a big bag of white garri within the last two weeks, increased by 18.4% from an initial average of N11,250 to sell for an average of N13,325.
• A bag of yellow garri recorded a 3.1% increase in price as it currently sells for an average of N12,625 when compared to the N12,250 recorded two weeks ago.
• A bag of 10kg Mama Gold rice increased by 6.3% to sell for an average of N4,250 compared to N4,000 recorded two weeks ago.
• The price of a 50kg bag of rice spiked by 8.8% from N21.375 recorded two weeks ago to sell for an average of N23,250.
• A big tuber of yam that was initially sold for an average of N838 now costs an average of N913. This represents a 9% increase in price.
• A medium-sized tuber also increased by 24% to sell for an average of N775 as against N625 recorded a fortnight ago.
• A big basket of oval-shaped tomatoes now sells for an average of N12,000 at Mile 12 market, an increase of 20% compared to N10,000 recorded two weeks ago.
• A bag of yellow maize that was initially sold for an average of N17,250 now sells for an average of N19,667 indicating a 14% increase in price.
• Also, a bag of white maize increased by 8.6% to sell for an average of N19,000 from the initial average price of N17,500.

Items that maintained initial price

• A carton of 210g Indomie (Hungry man size) continues to sell for an average of N3,200.
• A 305g size of Indomie sells for an average of N2,900.
• 500g and 900g Milo tins still sell for an average of N1,038 and N2,075 respectively
• The prices of Kote and Titus fish continue to go for N563 and 575 respectively.
• 12.5kg of household cooking gas (refilled) continues to sell for an average of N3,375 while 5kg cylinder is still filled for an average of N1,400.
• Bush mango seeds (Ogbono) still sell for N75,000 at Mile 12 market, same as recorded two weeks ago.
• A 50kg bag of flour, Honeywell, Mama Gold and Dangote still sell for N11,200, N11,075 and N11,100 respectively.
• A 500g packet of pasta (Golden Penny) continue to sell for an average of N4,300, while Dangote pasta sells for an average of N4,125.

Special Feature: Rams Markets

Traders in the market have complained of low sales turn-out, a situation that was caused by a hike in the prices of the commodity which comes directly from the Northern part of Nigeria. One ram seller at Kappa Market said:

“We have limited stock of ram this year compared to last year because there is no much money in the country. We are not expecting good profit this year because of low sales and high cost from the North. Some cows here are sold for N250,000, N500,000 and even N1 million depending on the size of the cow.”

He explained further to Nairametrics Research that some of the rams from the North are sold for an average of N180,000 compared to last year when the same size of ram was sold for N150,000 while some that were sold for N95,000 last year now sell for an average of N110,000.

A visit to Mangoro market revealed that low sales were anticipated by the traders, considering the impact of COVID-19 pandemic, leading to low stock of rams. However, Mr. Mustapha. who spoke to Nairametrics Research at Mangoro market, said that considering the economic situation in Nigeria, sales are not that bad, as some people have started buying cows and even rams in preparation for the Eid festivity.

“We currently have rams of different sizes, which vary in price. Some small sizes are sold for as low as N70,000 and as much as N150,000. Bigger sizes of rams sell for as low as N200,000 up to N450,000,” he explained.

Low stock of Cows at Kappa market

Market Insights

Big bags of pepper, which were not available in the market two weeks ago are now being sold for an average of N7,500 each, compared to N15,000 recorded last month. The decrease in price was attributed to an influx of fresh peppers from the North. A medium-sized bag of peppers that was sold for an average of N10,000 two weeks ago now sells for an average of N4,500. This represents a 55% decrease in price.

Round-shaped tomatoes were sighted at Mile 12 market, having been unavailable in the market over the past months. A big basket of round-shaped tomatoes is currently sold within the range of N15,000 and N16,000.

According to a tomatoes seller at Mile 12 Market, “We have three types of tomatoes. The most expensive is the Hausa round-shaped tomatoes, which sells for an average of N15,000, another type is the Yoruba round-shaped tomatoes, which sells for an average of N14,000 while the cheapest is the oval-shaped tomatoes generally regarded as Yoruba tomatoes, which sells between the range of N12,000 and N13,000.”

A big basket of sweet potatoes that was initially sold for an average of N8,000 two weeks ago has spiked by 81.3% to sell for an average of N14,500. Mr Yaya, a potatoes trader, told Nairametrics Research that the recent increase in price of sweet potatoes is due to increase in transportation costs.

The price of a big nylon of crayfish increased by 21.4% to sell for an average of N17,000 compared to N14,000 recorded two weeks ago. According to Mr. John who sells crayfish at Mile 12 market, “We are in the season where the price of crayfish is supposed to be cheap but unfortunately, the reverse is the case”. He, however, has no explanation as to why the price of the item keeps increasing at this time.

A rice seller at Oyingbo market told Nairametrics research that local rice is of two types: the stony ones, currently being sold for an average of N20,000 while the brand of rice with superior quality sells for an average of N25,000. However, he said that foreign rice currently sells for an average of N29,000 at the market.

Below are the average prices of frozen food items measured in cartons:

Chicken lap – N12,500

Full Chicken – N12,500

Turkey – N14,200

About Nairametrics Food Price Survey

Nairametrics Food Price Watch is a bi-weekly household market survey that covers the prices of major food items, with emphasis on five major markets in Lagos – Mushin market, Daleko market, Oyingbo market, Idi-Oro market and Mile 12.