According to the index, a
50kg bag of imported rice currently selling at N16,857 was sold for N14,800
last week, thus recording a whopping N2,057 increase. Miss Avaado Gaadi,
Enumeration specialist at the firm, told pressmen earlier that increase in the
price of imported rice was as a result of restrictions on imported commodities.
The prices of commodities
like imported rice, maize, beans, palm oil, sorghum and others have continued
to rise at the Mile 12 Market in Lagos. This is reflected in the commodity
index update, prepared by Novus Agro Nigeria Ltd, an agro-based firm, and made
available to newsmen on Friday in Lagos.
Gaadi said that the
restriction was to uphold the Federal Government’s drive to diversify the
economy, through promoting consumption of locally-produced commodities.
Meanwhile, the paint bucket
measurement of imported rice has also increased to N1,457 as against N1,333
sold last week. Also, a 100kg bag of beans, which has been on a continuous
increase since June, now attracts N25,714, as against N24,000 it attracted last
week; while the paint bucket measurement remained stable at N900.
However, the 100kg bags of
maize, sorghum, onions and 25-litre container of palm oil were on the increase
at the market. Maize attracted N12,829, as against N11,375 it was sold for last
week, recording a difference of N1,454, while the paint bucket measurement
increased slightly from N500 to N507.
Sorghum now selling for
N11,571 was sold for N10,313 last week, thus attracting an increase of N1,258,
while the paint bucket measurement increased from N500 to N507. Also, onions
increased slightly to N16,143 from N16,125, recording N18 increment, while the
2kg measurement remained unchanged at N500.
A 25-litre keg of palm oil
increased to N7,286 from N7,063 it sold for last week, while the bottle
measurement also increased from N250 last week to N280 this week.
While soya beans remained
unchanged at N17,000 per 100kg bag, the 60kg and 100kg bags of garri and
groundnut dropped in price. Garri, which now goes for N12,614, was sold for
N12,763 last week; while groundnut now sells for N25,000, as against the
N25,500 it attracted last week. However, the paint bucket measurement of both
commodities remained unchanged at N600 and N950 respectively.
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