• Wednesday, July 17, 2024
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BusinessDay

Prices of tomatoes, garri, beans rise 205% in one year – NBS

Nigerians turn to cucumber, cayenne pepper as tomato prices bite

The combined average prices of tomatoes, garri and beans rose 205.36 percent in May 2024 compared with May 2023, according to a recent report by the National Bureau of Statistics (NBS).

NBS’s price watch for selected food in May revealed that on a year-on-year basis, the average price of 1kg tomatoes rose 196.92 percent to N1,480 in May 2024 from N498.34 recorded in the same period of 2023. The price increased 31.71 percent from N1,123 in April 2024 on a month-on-month basis.

The average price of 1kg garri white (sold loose) – Nigeria’s most consumed staple food – rose 200.12 percent in the period under review to N1,115 in May 2024 from N371.42 in May 2023. On a monthly analysis, it rose 16.98 percent, up from N1,130 in April 2024.

Also, the report revealed that the average price of beans – considered to be the cheapest source of protein in Nigeria’s diet soared 219.05 percent to N2,009 in May 2024 from its old price of N629.75 in May 2023. On a month-on-month basis, the price increased 44.77 percent, up from N1,388 the previous month.

Read also: Rice, garri, tomatoes prices rise 141% in one year – NBS

A BusinessDay market survey showed that tomato prices have risen by more than 200 percent in many states around the country, driving Nigerians to source alternatives to the vegetable.

The selected food price watch showed that the average price of other food items like onions, beef boneless, wheat flour, palm oil and bread, among others quickened the food inflation rate to 44.66 percent in May. According to a state analysis, the NBS revealed that for the average price of 1kg of tomatoes, River’s state recorded the highest price at N2,100, while Katsina recorded the lowest price at N775.

Gombe recorded the highest average price of 1kg garri white at N1,613, while the lowest was reported in Kwara at N826.

Similarly, the highest average price of 1kg of brown beans (sold lose) was recorded in Plateau at N2,855 while the lowest was recorded in Kebbi at N1,171.

Read also: Top five states with highest food inflation in May

The highest average price of 1kg of rice local (sold lose) was recorded in Kogi at N2,529, while the lowest was recorded in Benue at N1,014.

Also, the selected food price report showed that at a zonal level, the South-South recorded the highest average price of 1kg of tomatoes at N2,054, followed by the South-East at N1,644, while the lowest was recorded in the North-East with N1,051.

The South-West and the North-East recorded the highest average price of 1kg of garri white (sold loose) at N1,295 and N1,139, respectively, while the lowest was recorded in the North-Central with N1,021.

For beans, North-Central and South-South were highest at N2,575 and N2,293 respectively, while the lowest was recorded in the North-West with N1,380.