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Business News of Thursday, 6 June 2024

Source: www.legit.ng

Cooking in Nigeria gets more expensive as traders quote new garri, rice, other food items prices

Foodstuffs Foodstuffs

The National Bureau of Statistics has revealed that the major food items consumed by low—and middle-income households increased again.

The bureau stated this in its selected food price report for the month of April published on its website. R

Food prices change

According to the report, the price of rice increased by 156% to N1,399 in 2024 from N547 in the same period of 2023.

The average price of garri also surged by 135% from N363 in April 2023 to N852 in the corresponding period in 2024. On a month-on-month basis, it surged 13.59% from N750 in March to N1,554 in April.

The average price of tomatoes increased 17.9% from N960 in March to N1,123 in April, or 132% year-on-year from N485 in the same period last year.

Additionally, the average price of 1 kg of white garri (sold loose) increased 13.59% from N750 in March to N852 in April. The commodity increased 135% on a year-on-year basis compared to the same period in 2023.

Also, the average price of 1 kg of brown beans (sold loose) rose by 125% on a year-on-year basis from N616 in April 2023 to N1,388 in April 2024, while there was an increase of 12.44% on a month-on-month basis.

States with highest food prices

On a state basis, the report stated that Niger recorded the highest price of 1 kg of local parboiled rice at N1,785, while the lowest was recorded in Benue State at N994.

Analysis by zone showed that the average price of 1 kg of loose local rice was highest in the South-West at N1,615, followed by the South-South at N1,565, while the North-West recorded the lowest average price at N1,163. Still by zone, the average price of 1 kg of white garri was highest in the South-South and the South-West at N1,031 and N982, respectively, while the lowest was recorded in the North-West at N682.