Poultry owners are reportedly jacking up prices of chickens, turkeys and other farm produce, as Nigerians are abandoning imported frozen foods due to the continuous rise in their prices and scarcity. This was disclosed in the latest household survey carried out across major markets in Lagos State by Nairametrics Research.
Recall that in an earlier survey, frozen foods sellers disclosed to Nairametrics Research Team that the closure of Nigerian land borders by the Federal Government was biting hard on them, as a slate of full chicken which was sold for N9,200 is now sold for N13,000, while the same quantity of chicken lap is now sold for N12,500 compared to its initial price of N8,500.
Meanwhile, the latest visit to major markets shows that poultry owners are reportedly raising prices of locally-bred chickens, as demand surged across various farms. Also, the latest household survey showed that the price of foreign-made rice has risen significantly, as it now sells for an average of N27,750. This increase indicates a staggering 92.04% change within a space of two months.
The report includes items that increased in price over the past two weeks, as well as, special items and insights from the markets.
Items that witnessed an increase in prices
Major household items that have increased significantly in the past two weeks:
- Locally-produced 50kg bag of rice has yet again witnessed an increase in price as it now sells for an average of N21,750 from the N19,750 of two weeks ago. This change indicates a 10.1% increase.
- A 50kg bag of Royal Stallion rice and Caprice increased by 5.7% from an initial average of N26,250 to a current average of N27,750.
- A big tuber of yam now sells for an average of N850, compared to an initial average of N825, indicating a 3% increase, while a medium-sized tuber of yam increased by 2% from an average of N613 to N625.
- A big basket of round tomatoes increased by 12.5% from an initial average of N8,000 to N9,000 just as small basket sells for N5,500.
- The price of one kilo of Horse Mackerel fish (Kote) increased by 7.3% as it now sells for an average of N475 compared to an initial average of N443. Also, Titus fish now sells for an average of N463 from an initial N438.
- The price of a pack of Golden Penny pasta has increased significantly by 25.2% from an initial N3,375 to N4,225 while a piece of the commodity now sells for N220.
- A 50kg bag of Dangote, Honeywell and Mama Gold flour increased within two weeks to sell at a uniform average of N11,275.
Items that maintained their initial prices
- Big baskets of Irish potatoes and sweet potatoes maintain their initial prices, as they sell for N20,000 and N5,000 respectively.
- The prices of locally-packaged palm oil and vegetable oil remain unchanged, as a 25-litre gallon of palm oil costs an average of N9,500, while vegetable oil of the same size costs an average of N10,500.
- The prices of milk and cocoa beverages of different sizes still cost the same as no change was recorded in the past two weeks.
- St. Louis sugar, bread and bottled water cost the same as previously reported; they sell for an average of N408, N300, and N613 respectively.
Special Items/market
- A bag of melon still sells for an average of N50,000, while a bag of bushman seed (Ogbono) maintains its price at N55,000. A big nylon of crayfish is sold at an average of N7,000 at Mile 12 market.
- Sellers of onions, tomatoes and melon at Mile 12 market, disclosed to the Nairametrics Research Team that one of the reasons why the price of the commodities remains high is due to the cost of transportation, bad roads and the fear of bandits on the road.
- Mallam Isa, a tomato seller, pleads with the government to intervene by constructing good roads, and ensuring the security of lives of the traders.
- The price of maize varies, depending on the markets and freshness of the item. A bag (100kg) of yellow maize sells within the range of N16,000 and 20,000 while white maize costs between N15,500 and N19,000.
Market Insights
- With respect to an initial report by Nairametrics showing that Nigerians are abandoning frozen chicken and turkey due to the incessant rise in the prices of the commodities caused by the border closure, the Nairametrics research team visited a major poultry market in Oshodi and investigated recent developments.
- A trader in the market who wished to remain anonymous, expressed joy and satisfaction at the turnout of sales since the border closure, as she disclosed that Nigerians have turned towards the consumption of local chickens.
- However, she lamented that various poultry farm owners are jacking up the prices of the supplies and this is frustrating them as they cannot easily change the prices they sell.
“Chickens are of different sizes and types: Layers are sold for N2,000, Breeders for N5,000, while Boilers sell for N4,000. The consumers pay N200 for the slaughtering and packaging of the items. Farm Poultry owners are increasing prices, making it difficult for us to make profit because it is not easy for us to increase the prices.”
She, however, called on the government to intervene in the increase of the price of poultry from the various farms, as it is eating deep into their profits.
- Meanwhile, consumers expressed discomfort at the increase in the price of pasta. According to Mrs Olushola in Oyingbo market, the price of rice has gone up, she and her family had switched to consuming spaghetti over the past two months, but they are left with little feeding options, as spaghetti that was sold for N200 before has increased to N220.
She clamoured that the Government should help in regulating the price of rice and spaghetti and not leave it to the sellers to make life difficult for them.
Source: Nairametrics
