Business

Kwara traders lament low sales, despite downtrend in prices of staple food

By Mike Adeyemi

The prices of major staple food items have witnessed downtrend across Kwara Markets compared to the prices recorded during the Christmas and New Year festivities, National Pilot gathered.

Our reporter who went round some markets in Ilorin metropolis brought report that the price of cooking gas, rice, beans as well as tomatoes recorded a slight drop relatively to the previous month’s hike in price due to the festive season in December.

Food items such as yam, potatoes and egg, all recorded an increase in price in February.

At Mandate Market,  the price of a 50kg of rice decreased by 7.11% to sell for an average of N27,750 compared to N29,875 recorded in the previous months.

Also, the price of a basket of tomatoes dropped by 22.1% to sell at an average of N13,625 compared to N17,500 recorded during last Christmas period.

Similarly, the price of filling a 12.5kg of cooking gas dropped to an average of N7,850 as against an average of N8,650.

At Obbo Market  the price of Oloyin beans, dropped by 15.1% to sell for an average of N34,375 in contrast to an average of N40,500 recorded in the previous month.

A crate of egg that was sold for an average of N1,838 in December also increased by 4.1%  to sell for an average of N1,913.

Amidst downtrend in the prices of majority of the food products, it is worth noting that some major food items also surged in Kwara Markets.

A big sized Tuber of yam increased by 22.81% to sell for an average of N1,750 when compared to the initial average of N1,425 recorded in January.

Also, the price of a medium-sized yam rose by 9.38% to sell for an average of N875, as against the initial average of N800.

At OjaTuntun, a pack of Power Pasta 500g increased by 8.40% to sell for an average of N355 when compared to the initial average of N328 recorded late last year.

A 5 litres and 25 litres gallons of local Palm oil increased by 4.55% and 4.71% to sell for an average of N4,600 and N25,000 as against the initial averages of N4,400 and N23,875 respectively.

5 litres and 25 litres gallon of local Vegetable oil increased by 20% and 11% to sell for an average of N5,100 and N27,750 compared to the initial averages of N4,250 and N25,000 respectively.

Speaking with our reporter, Sikiru Yusuf, a gas dealer said the improved supply of gas in the market has helped moderate the price of the product in the market.

He believes that the price of the product is very much high as a 12.5kg gas used to sell below N4,000 earlier in the previous year.

Some traders who speaks with our medium admitted that sales have been very low since the start of the new year, attributing it to the seasonal cycle typical of the new year.

Mrs. Alimat Garuba at Yoruba Road Market, explained that it is typical for early to recorded dwindling sales because we are heading into a new year from a period of significantly huge spending.

“New year period is known for a time where lots of financial bottlenecks like school fees, house rents are committed. So, demands for food items usually drops and this comes along with low sales,” she said.

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