Harvest Season Brings Relief as Prices of Beans, Tomatoes, New yams Drop in Abia and Imo Markets
The harvest season has brought significant relief to consumers in Abia and Imo States as the prices of several staple foods have dropped in major markets. A recent survey conducted in markets across Owerri, the capital of Imo State, and Umuahia, the capital of Abia State, revealed noticeable reductions in the prices of beans, tomatoes, onions, and new yams.
Price Reductions:
- The cost of a paint bucket of beans, which previously sold for N10,000, has now dropped to between N7,500 and N8,000, depending on the variety.
- New yam, now abundant in the market, has seen a significant price cut, with a large tuber that sold for N7,000 last month now available for N4,000. The medium-sized yam, which was previously priced at N5,000, now sells for between N2,500 and N3,000.
- Tomatoes have also experienced a price drop, with a bucket that previously sold for N15,000 now going for N8,000.
Mrs. Ezinne Okafor, a trader in Umuahia, attributed the reduction in prices to the arrival of new harvests and increased competition among suppliers. "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," she explained.
Price Hikes Persist for Garri, Rice, and Other Staples:
Despite these reductions, the prices of other staple foods, particularly garri and rice, have remained high. A bag of garri, which sold for N40,000 last year, now costs N68,000, while a small bucket of garri is priced at N3,500, up from N2,500.
Similarly, the cost of rice has remained elevated, with a 50-kg bag of foreign rice selling for N90,000 and the local variety priced between N70,000 and N75,000.
**Transport Costs and Insecurity Affect Prices:**
The ongoing price hikes in some food items have been attributed to high transportation costs and security challenges in the northern regions of Nigeria, where these commodities are cultivated. Traders like Mr. Musa Yinusa, who sells potatoes and onions, predicted further increases in prices due to these persistent issues. "Farmers in the north can no longer go to farm because of the attacks by bandits and Boko Haram insurgents, leading to food shortage," Yinusa stated.
Consumer Concerns:
Although the harvest season has brought some price relief, consumers are still feeling the pinch of high transportation costs, which may counteract the benefits of lower food prices. This concern is shared by traders like Mr. Daniel Njoku in Aba, who noted that while the price of yam has decreased, the cost of transporting it remains high.
As the harvest season progresses, consumers in Abia and Imo States remain hopeful that prices of more food items will drop, bringing further relief amidst the economic challenges.
