Market survey: Prices of yam, tomatoes, onions crash in Imo, Abia

The prices of some staple foods, such as beans, tomatoes, onions and new yams, have recorded significant drops in major markets in Abia and Imo, largely attributable to the harvest season.

A survey conducted in the markets within Owerri metropolis showed that the price of a paint bucket of beans decreased from N10,000 to N8,000 and N7,500, depending on the type.

With the new yam flooding the market, its price dropped significantly with a big tuber, which sold for N7,000 last month, now going for N4,000.

The medium size, sold at N5,000, has also reached between N3,000 and N2,500. A bucket of tomatoes, sold for N15,000, came down to N8,000.

However, the price of garri has continued to soar as a bag sold at N40,000 last year still sells for as high as N68,000. Also, a small bucket of the commodity, which was sold for N2,500, now goes for N3,500. Garri sellers blamed the continued price hike on transportation costs.

The price of rice has also remained high as a 50kg foreign brand sells for N90,000. The 50kg local brand, often called “local foreign,” still goes for between N70,000 and N75,000.

Also, in Umuahia, the capital of Abia, there is a slight reduction in the price of red pepper. A basket of red pepper costs between N65,000 and N70,000 compared to N95,000 and N100,000 a few months ago.

A dealer, Ezinne Okafor, attributed the price decrease to the new harvest season.

“Competition has forced the price down a little because Ogoja and Ngwa pepper are now in the market, unlike when it was only Nsukka pepper, which cost N100,000 per basket barely one month ago. New tomatoes from Gboko in Benue are also in the market now and have contributed to the price decrease,” Ms Okafor said.

However, the prices of other staple food items have yet to drop, the harvest season notwithstanding.

According to a survey carried out at the Ubani Ultra Modern Market, near Umuahia, a bag of 50kg of rice (local foreign) now costs between N80,000 and N85,000 as against N65,000 and N70,000 a few months ago. A 75kg bag of iron beans also sells between N180,000 and N210,000 (depending on the type), as against N120,000 and N140,000 some months ago.

Also, a 75kg bag of garri currently goes for between N88,000 and N90,000 as against N85,000 and N87,000 between March and April. Similarly, a 75-kg bag of sweet potatoes now costs N75,000 as against N50,000 about five months ago.

A bag of onions now sells for N120,000 against N85,000 and N90,000 around March. A trader, Musa Yinusa, predicted that the price of onions would still go up to about N150,000 by December, going by the market trend.

Mr Yinusa, who sells potatoes and onions, attributed the rising prices of foodstuffs to the high cost of transportation and insecurity in the north, where the commodities are cultivated.

According to him, farmers in the north can no longer go to farm because of the attacks by bandits and Boko Haram insurgents, leading to food shortages.

A basket of round-seed tomatoes now sells for N126,000, while Gboko tomatoes cost N70,000, as against N100,000 and N65,000 about five months ago.

However, the prices of other items like eggs, vegetable oil, seasoning cubes, and tomato pastes have continued to soar. A crate of eggs costs N4,800 and N5,000 compared to N3,9000 and N4,200 about five months ago.

A 25-litre vegetable oil costs N55,000, five litres of that goes for N11,000, while a carton of tomato paste sells between N7,000 and N7,200. Ms Okafor also blamed the hike in the price of eggs on the high cost of poultry feeds.

A bag of crayfish now sells between N180,000 and N200,000, as opposed to N140,000 and N160,000 around April. A crayfish seller at Isi Gate Market, Umuahia, Ugonne Chikamnayo, also blamed the price increase on the high cost of transportation.

“Early last year, a bag of crayfish sold between N60,000 and N70,000 but later rose to N80,000 and N90,000 between November and December. The commodity comes from Oron in Akwa Ibom, but the processes involved, including paying those frying it and other costs, force the price up,” Ms Chikamnayo said.

The News Agency of Nigeria reports that in Aba, the commercial hub of Abia, foodstuff sellers at the New Market (Ahia Ohuru) said the prices of yam, potato, onions, and tomatoes had slightly dropped due to the harvest season. Some traders said the rising fuel price and transport fares have made it difficult for the residents to feel the price drop.

A yam seller, Daniel Njoku, said a yam tuber sold at N4,000 a fortnight ago now costs N3,500. Mr Njoku attributed the price decrease to the new yams from the north and other agrarian communities in the South-East.

Mr Njoku envisaged that the price of yam would continue to come down due to the harvest season. He, however, said that the cost of transportation was still high, which might have had an adverse effect on the prices of foodstuffs.

Another trader, Abbas Sani, who sells potatoes and onions, stated that the prices of foodstuffs had dropped drastically in the North compared to the South-East.

Mr Sani explained that a bag of potatoes cost N75,000 last week is now N60,000. He also mentioned that a basket of onions, sold for N115,000 a fortnight ago, goes for N100,000. However, according to him, the price of old onions remains at N130,000 per basket.

A tomato seller, Ozioma Mbah, said she used to buy a basket of Cameroon tomatoes brought through the Calabar axis at N35,000. She, however, said with the Gboko tomatoes now in the market, the price of Cameroon tomatoes crashed to N22,000.

“As of today, Gboko tomatoes cost N27,000,” Ms Mbah said, adding that transporting the commodity from the North to Aba costs N10,000 per basket. She feared that the cost of transportation might still go up next week due to the continued fuel price hike.