Food prices remained stable for most of the and South West while falling in North Central, indicating price stability throughout the month of March, which is a positive sign after earlier scars from the month of Febuary.
An evaluation of prices of three staple food items – imported rice, drum beans (Olotu), and white garri from three markets across three regions of the country – Dawanau Market, Kano State; Bodija Market, Oyo State; and Ogete Market, Enugu State, showed price stability in March.
A monthly analysis by Novus Agro, an agricultural markets and professional services firm, showed that prices of imported rice in Dawanau started at an average of N7,833 in the first week of March and continued on a steady decline to NGN 6,980.
This is just as prices of drum beans (Olotu) hovered around N11,000 throughout the month of March, rising first in the second week, and then falling in the last week of March.
For prices of white garri in Dawanau started at NGN 3,567 in the first week to close at N2,940 in the fourth week. Generally, prices of staples in Dawanau Market fell throughout the month of March.
In Bodija Market, prices of imported rice remained steady at N7,400 throughout the month of March. Prices of drum beans (Olotu) in the same market also remained steady at N13,000 throughout the month. Likewise, prices of white garri remained unchanged at NGN N6,500 throughout the period.
In Ogbete Market in Enugu prices of imported rice in Enugu were steady at N8,500 throughout the month, just as prices of drum beans dropped to N15,000 and remained steady throughout the month. Prices of white garri also remained unchanged at N3,500 during the period under review.
There were periods in the month of march when food prices moved up a little generally due to the elections, but ever since the market value of food items has remained considerably predictable in the month of March.
curlled from dailyindependence