The market survey conducted by the Nigerian Observer on some food items in Benin City, Edo State, has shown that the prices of food items maintained a steady rise from July to date, with the items monitored including rice, tin tomato paste, sachet tomatoes paste, among others.
Our findings showed that the price of a bag of Nigerian rice increased by 28%, while a bag of foreign rice surged by 33% between June and August 2023. Also, the price of tin-tomatoes pastes increased by 16%, while sachet tomato paste increased by 23% in the same period.
The 50kg Mango short grain rice, known as Nigerian rice that was sold for N36,500 in June, is now sold for N47,000 per bag in Benin City. Also, 50kg foreign rice, which is the long grain rice that was sold for N39,000 in June is now sold for N52,000 per bag and rubber at N3,100 in August 2023.
A carton of Ric-Giko/Erisco tin-tomato paste, which has 48 tins in a carton weighing 210g that was sold for N14,400 per carton, and N300 per tin in June, is now sold for N16,800 per carton, and N350 per tin in August.
Also, Today’s tin tomato paste, with 48 tins in a carton weighing 210g that was sold for N16,800 per carton, and N350 per tin in June, is now sold for N19,200 per carton, and N400 per tin in August 2023.
Findings also showed that sachet tomato paste, with 50 sachets in a carton weighing 65g that was sold at N100 per sachet, is now sold for N150 per sachet. For instance, Gino pepper & onion tomato mix that was sold for N4,200 per carton in June, is now sold for N5,200 per carton in August.
The cheapest sachet tomato, magnate tomato mix that was sold for N2,900 per carton in June, is now sold for N3,900 carton price in August 2023.
Some traders who spoke with the Nigerian Observer team, showed concerns over the price hike in food items and also said some food items have remained slightly stable.
The increase in prices of food and other essential items continues to bite harder, since the removal of petrol subsidy, as the hike immediately triggered an increase in transportation fares and prices of goods and services.