The rates of widely eaten cereals and legumes rose by a average of 98 per cent in the last one year.......................
A PREMIUM TIMES market survey shows that the prices of common cereals and legume crops, such as rice, beans, maize, soybeans, groundnut among others which are the main staple foods among Nigerians have doubled in the past weeks and months, while the income of citizens remains stagnated.
He said soybeans were sold at N22,000 per 120kg bag in the market last year, but that the price jumped to N36,000, this year. “The prices of beans went up because more people went into rice farming,” said an Abak market foodstuff trader in Akwa Ibom state, Samuel Daniel. “Last year January we sold a cup of beans between N40-N50 per cup, but we are currently selling it for N150 per cut now,”
“There are so many Nigerian rice in the market and this is what affected the prices of beans, and that people are also complaining that forex exchanges contributed to the hike they’re currently experiencing. The price of a bag of local rice ranges between N15,000 -N25,000 currently, depending on the level of purity of the rice. Stony rice is cheaper. It was sold for N7000 last year,” he said.
She explained that they were selling a ‘rubber’ of beans between the range of N400 and N500 before the COVID-19 pandemic, but that is currently being sold above N1000 per rubber. At Wuse market in Abuja, Baba Gombe, who sells these products confirmed to this newspaper that the prices of these items have gone up substantially.
Due to the perishable nature of these products, Baba Gombe said he usually runs on huge losses, and that the increase in price has dwindled the purchasing powers of his customers. ” The prices increased this year, plantain is also a seasonal food, it is not the season now so this must have affected the price of the food,”he said.Razaq Fatai, Policy and Advocacy Manager for ONE Campaign in Africa, said the rise in food prices has decimated consumers’ purchasing power.
Jimmy John-Mark, a veterinarian and farmer in Kaduna said the biggest trigger of the increase in the prices of food is insecurity, and that this has stopped farmers from carrying out farming activities and transportation of produce from the farm. He stated that despite the adverse impact of COVID-19 crisis on global supply chains, Nigeria’s food import bill grew by 133 per cent year-on-year in the first quarter of 2021, according to the National Bureau of Statistics .
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