[News] Ramadan2018: Food Prices Soar Ahead Of Ramadan Fast

As Muslims around the world will be taking part in the ritual fasting and abstinence for 30 days to celebrate Ramadan, The prices of foodstuffs and other essential commodities have increased in various markets across the Lagos state.

The survey further revealed an increase in the price of some food items that are imported and a stable price of other items that are brought into the market locally.

With a grappling economy, reduced profit rate and low patronage, traders’ informed that this season seemed to be the worst hit by the recess in the economy as the prices of local and imported food items and fruit have risen.

At the market, our correspondent observed that the prices of foodstuffs like ogbono, egusi, rice, beans, yam, fish, tomatoes and pepper, are on a very high side, while patronage is low even as most traders were seen sitting idle in their shop.

Ebuka, a trader who sells foodstuff dealer, explained to us the reason for the upswing in prices.

Foodstuff items increases in various markets across Lagos state. Photo credit: Esther Odili

He said: “The price of palm oil and groundnut oil is relatively low now as against the old price in previous months. 25- litre of branded groundnut oil that goes for N15,000 before, now cost N13,000. And the refill groundnut oil cost N12,500, while the price of palm oil goes for N11, 500.

The dark complexioned man said: “Almost everything in the markets has become very expensive. This is due to so many factors that influence the prices of goods positively and negatively.

“A traveling bag that was sold from N3,000 before, now goes for N6,000 while a big traveling bag depending on the space inside can be purchased from N15,000. A school bag that cost N1,500, N2,000 and N3,000 before, now goes for N2,000, N3,000 and N4,000. Same with clothes and shoes.

“The price of the goods increased by fifteen percent and this is really affecting the level of sales as buyers go affordability rather than quality.”

Traders sitting idle and looking helpless at Berger retail market, Ojodu, Logos. Photo credit: Esther Odili

The price of fruits like oranges, pineapples, and banana, pawpaw and apple had also witnessed increases with a bag of oranges being sold for between N4,000 and N6,000 from N2,500 and N4,500 in previous months.

A big bunch of banana is sold for between N400 and N600, while the price of watermelon remained fairly stable at between N300 and N400.

This is a boom period for fruit sellers in markets across the country. Photo credit: Esther Odili

Mama Chisom, a trader who sell fruits in the market attributed the rising cost of fruits to the change in weather condition, cost of purchase and carriage but revealed how encouraging business has been so far.

In her joyful mood, the fruit seller expressed satisfaction over sales in previous months and now. adding that, the patronage level is improving on a daily basis.

She said: “This is the period we make cool cash. Because, Muslim faithfuls cannot do without us for a period of one month. Before and now, sales has been encouraging. although, some fruit are expensive and others scarce due to their season, but we are making sales and we are happy.”

At Mile 12 market, fresh tomatoes and pepper have become expensive as observed in the market lately. Tomatoes that was sold at N100 before is now sold for N200 and traders no longer sell tomatoes from N50. The traders attribute this to the scarcity of produce, the season and the fasting period.

Tomatoes, pepper, vegetable continues to rise in markets across Lagos state. Photo credit: Esther odili

“A basket of tomato that goes for N8,000 before, now goes for N15,000 upward while the big bag of pepper can be purchased from N12,000. But for onions, it is relatively cheap. We sell tomatoes from N100 and above, but pepper and onion are sold from N50.

“A bag of dry and old onions cost N 25,000 as against its old price of N30,000 upwards. While a bag of new onions can be purchased between N18,000 and N25,000: depending on the particular market day. Because, sometimes things are affordable on a particular day in the market and at other days, it will be expensive.

“Tomato and pepper have become very expensive now, this is due to its change in season. Just like we have new yam come up by the 2nd quarter of the year, same goes for some goods in the market.

"The size of the basket, the size of the bag and the market location often determine the price of the goods,” Iya Zainab, a tomato seller at the market said. 

Market situation is worse, as described by traders' in markets across Lagos state. Photo credit: Esther Odili

Interestingly, the government is unrelenting in its efforts to restore the economy but this period, the traders expected a positive outcome in the cost of goods.

Mama Bose, who sells fish in the market, Said that the price of a 20kg carton of Titus fish had increased from N16,000 last week to N18,000 while a carton of small panla fish cost N8,500 as against its old price of N7,000.

She attributed the hike to the fluctuating price of the exchange rate and the cost of transportation.

Children wears, ladies handbags, shoes, phone accessories have experienced an increment in prices. Photo credit: Esther Odili

“We sell base on the cost of purchase. And recently, the price of fish (panla, Titus, kote and croaker fish) have risen by about ten percent. We have different types and their prices are determined by the type, the content in the carton and the market location.

“Now, the cost of purchase is high and the most difficult part of the situation is that we experience low sales as we end up selling below the cost price,”the mother of three explained

Despite the availability of produce, traders' decry low patronage. Photo credit: Esther Odili

Similarly, other commodities have experienced an upswing in prices across the state findings revealed.

However, traders’ appealed to relevant authorities, to look for ways on how to im¬prove the worsening economic situation for the benefit of all.

Market Survey: We now drink garri even though we hustle hard - market women via