Prices of garri, beans rise by 167.98%, 262.98% in one year- NBS

Nike Popoola

The average price of most food stuff rose significantly, with the price of Garri and beans recording a hike of 167.98% and 262.98% in one year.

The National Bureau of Statistics revealed in its report on Selected Food Price Watch July 2024.

The Selected Food Price Watch for July 2024 shows that the average price of 1kg beans brown (sold loose) stood at N2,444.81. This indicates a rise of 262.98% in price on a year-on-year basis from N673.53 recorded in July 2023 and a 6.63% rise in price on a month-on-month basis from N2,292.76 in June 2024.

Agric eggs medium size (12 piece) experienced significant price increases year on year by N2,170.17% from N1,006.64 in July of last year (2023) to N 1,935.69 in June 2024. On a month-on-month basis, the average price of this item rose by 12.11% from N 1,935.69 in June 2024. There was also a notable price increase of Tomato 1kg by 203.57% on a year-on- year basis from N557.96 in July 2023 to N1,693.83 in July 2024. On a month-on-month basis, it decreased by -26.43% from N 2,302.26 in June 2024.

Furthermore, the average price of 1kg Garri white sold loose went up by 167.98% on a year-on- year basis from N 429.89 in July 2023 to N 1,151.79 in July 2024, while there was an increase of 1.43% on a month-on-month basis. Also, the average price of 1kg of Yam tuber increased by 234.23% on a year-on-year basis from N 539.41 in July 2023 to N 1,802.84 in July 2024. On a month-on-month basis, it decreased by -10.82% from N 2,021.55 in June 2024 to N 1,802.84 in July 2024.

The state profile analysis in July 2024 reveals that the highest average price of 1kg of Bean Brown (sold loose) was recorded in Rivers state at N 3,070.96 while the lowest was in Adamawa state at N 1,532.23. The highest average price of 1kg of Tomato was recorded in Osun at N 3,000 while the lowest was in Kaduna State at N761.45.

Regarding the average price of 1kg of yam tuber, Kwara state recorded the highest price at N 3,894.08, while Adamawa recorded the lowest price at N742.95. Gombe recorded the highest average price of 1kg Garri white sold loose at N1,624.72, while the lowest was reported in Taraba at N 892.98.

Also, analysis by zone showed that the average price of Bean Brown (sold loose) was highest in the South south at N 3,032.86, followed by the Northcentral at N 2,869.95, while the Northwest recorded the lowest average price at N1,732.71.

The average price of 1kg of Tomato was highest in the Southwest and the South-south at N 2,366.67 and N2,070.18, respectively, while the lowest was recorded in the North-West at N 899.27.

The South-west recorded the highest average price of 1kg of Yam tuber at N2,357.02, followed by the south south at N 2,304.25, while the lowest was recorded in the North-east at N 1,018.60. The South -east and the North-East recorded the highest average price of 1kg of Garri White sold loose at N 1,197.59 and N1,194.52, respectively, while the lowest was recorded in the South south at N1,111.73.