Price of food commodities falls at Mile 12 market

By Frank Oyakhilome 

Food commodities in the Mile 12 Market is showing slight falls in price and some, although sold at the same price shows increase in volume. Lots of Nigeria women staying in Lagos are happy that the cost of tomatoes and Pepper though still the same has increase in volume compared to what they bought during the festive season.

At N50 the volume of the tomatoes and pepper cannot be compared with what entails now. The same goes for onions. Mrs Yemi Hanze, a regular visitor in the Mile-12 market, confirmed these findings when she compared the volume of N1000 pepper and tomatoes she bought during the festive season to the current N300 worth. She said they are the same in volume, but varied in cost . Iya Bode, another market woman who compared the volume of N50 worth of Onions said the current volume supersedes that of the ones she bought weeks ago.

Also the prices of 100 kg and 60kg of drum specie of beans and garri recorded a slight fall at the Mile-12 Market  as this development was shown in a commodity index provided by the Novus Agro Nigeria Ltd., an agro-based company.

The findings, showed that the 100kg bag of drum beans, which sells for N20, 000 was sold at N20, 500 last week. Meanwhile, the paint bucket measurement of the commodity remained at N800 as at last week. A 60kg bag of garri, which now sells for N5, 867, attracted N5, 933 last week, showing a variance of N66, whereas, the paint bucket measure of garri remained the same at N280.

Similarly, a 100kg bag of onions dropped by N5, 834, as it now sells for N12, 833 from its earlier price tag of N18, 667. Meanwhile, a 2kg basket of onions now sells for N171, as against the N367 it attracted last week. A 25 litre jerry can of palm oil now sells at N6, 000 as against the price of N6, 250 it sold for last week. In the same vein, a bottle of the commodity now goes for N200 compared to its former price of N207 last week.

Apart from commodities like maize, sorghum and soya beans that remained stable at N6,000, N6,500 and N15,000 respectively, others recorded slight increases. One of such commodities was the 50kg bag of imported rice, which now sells for N9, 500, against its last week’s price of N9, 333. Also, 100kg of groundnut recorded an increase of N500; it now sells for N24, 000, as against its former price of N23, 500.