LAGOS – Garri, a staple food made from cassava flake and commonly found on the menu of nearly all Nigerian homes appeared to be within the reach of consumers owing to stability in its prices.
The commodity has continued to enjoy patronage from consumers especially from South-South/ East /West, being their staple food.
Prices of garri have persistently maintained a sliding trend since 2018 after hitting the roofs between 2016 and 2017.
The involvement of more farmers across the regions in the production of cassava when the prices were beyond the reach of many has helped the situation, making the product available and affordable to the masses.
The situation has made prices of the commodity not to be determined by seasonal factors. The stability in the prices of the commodity has enabled consumers as well as traders to up their purchases.
During the week, findings from a market survey across some states by the Business and Market Intelligence Unit of SUNDAY INDEPENDENT revealed that prices of the commodity have either remained stable or fell slightly in some markets due to availability arising from increased supply.
Checks at the Ogbeogologo and Igbudu markets, Delta State, showed that prices of yellow and white garri were still at a downward trend, of which many of the traders attributed to adequate supply and low patronage as some of the consumers are into the production of garri.
Prices of the white garri 60kg bag, that were earlier sold for N4,500 in May 2019, dropped slightly, currently ranging from N4,000 to N4,200 while that of the yellow garri also declined to N4,500 from N5,000 sold before.
Prices of the commodity at the Ose Market, Onitsha, was not different from that of Asaba, especially with the prices of a 60kg bag of the white garri still going for between N4,200 and N4,500 since the beginning of this year.
Likewise, that of the yellow garri are remaining stable at between N4,500 and N4,800, depending on the size of the bag and haggling power of the customer.
Mrs. Bose Edu, who retails the commodity at the Ose Market, Onitsha, said the steadiness in the prices of garri is a good omen, linking it to bumper harvest recorded by farmers coupled with adequate supply.
She, however, opined that the decrease in the prices of garri had not translated into impressive sales due to lack of money.
At the Oba Market, Benin City, Edo State, prices of a 60kg bag of the white garri remained stable at N4,000 while that of the yellow garri were steady at between N4,300 and N4,500 since the beginning of this year.
Many of the traders attributed the situation to improved supply and low demand.
The trend appeared to be quite different from what is obtainable in the Northern region as regards prices of the commodity; they seemed to be more expensive especially when compared with those of the South/South/East/ West.
For example, prices of a 60kg bags of the white garri at the Dei-Dei Market Abuja, that previously attracted between N7,500 and N8,000, fell in the week under review to N7,000 as well as the yellow variant respectively.
The same goes for Dawanau Market, Kano, as prices of a 60kg bag of the white garri remained unchanged at between N7,000 and N7,500.
Most of the traders at the Dei- Dei Market, Abuja, attributed the price to high cost of logistics.
Visit to King’s Market, Ado-Ekiti, showed that prices of the commodity were at a downward trend. For example, a 60kg bag of white garri sold previously for N5,000 dropped marginally, currently selling for between N4,500 and N4,800 while that of the yellow garri also reduced to N5,500 from N6,000 initially sold.
Mr. Abe Taiwo, who trades in the commodity at the King’s Market, Ado-Ekiti, in a chat with our correspondent, said prices of the commodity had been stable for sometime due to surplus supply, which had allowed him to increase his procurements.
For, Bodija Market, Ibadan, the price trend of the commodity has not changed. For example, prices of a 60kg bag of the white garri have remained unchanged at between N4,500 and N5,000. Also, that of the yellow garri during the week still went for between N5,500 and N5,700.
Mrs. Rafatu Azeez, who sells the commodity in bulk at the Bodija Market, Ibadan, said the steadiness in the prices of garri was as a result of sufficient supply especially from major sources.
In Lagos, visit to popular markets such as Mile 12 and Idi-Oro revealed that prices of garri maintained a downtrend, a situation which many of the traders at both markets attributed to availability and increased supply regardless of the season.
But despite the stability in the prices of the commodity, many of the traders complained of poor patronage, linking it to bad economy.
Prices of the white and yellow garri remained stable at the Mile 12 and Idi-Oro markets, Lagos. For instance, prices of a 60kg bag of white garri which previously attracted between N4,000 and N4,500 had not changed as at July 25, 2019.
That of yellow garri also remained at between N4,500 and N5,000, depending on the size of the bag and bargaining power of the buyer.
The decline also affected prices of small measurements as that of a paint bucket still currently go for between N350 and N500, depending on the location and market.
The post Prices Of Garri Within Reach appeared first on Independent Newspapers Nigeria.
Source: Independent
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