Economic Hardship: Rice, beans, tomatoes, others get new prices

This week, Nigeria saw a significant increase in the price of key food components.

This growing pattern is seen in a variety of important items, such as rice, beans, garri, and tomatoes.

The resulting price shifts have far-reaching consequences for household budgets and the overall cost of living in the country, significantly impacting the population’s purchasing power and economic well-being.

A detailed price list for these essential food items is provided below:

1. Price of Rice

Foreign rice is now being sold at ₦78,000 per 50kg bag. This represents a considerable increase, making it more challenging for many families to afford. On the other hand, Nigerian rice, known for being stone-free and generally of high quality, is available at ₦65,000 per 50kg bag. Additionally, a 50kg bag of Golden Nigeria Rice is priced at ₦75,000. These prices highlight the rising cost of rice, a staple food in many Nigerian households.

2. Price of Beans

Beans, another staple in the Nigerian diet, have also experienced significant price hikes. The prices vary depending on the type and weight of the beans.

A 25kg bag of white beans or brown beans is currently priced at ₦30,000, while honey beans, known for their sweetness, are sold at ₦37,500 for the same weight.

For larger quantities, a 50kg bag of white beans costs ₦60,500, brown beans ₦60,000, and honey beans ₦75,000. The 100kg bags are priced at ₦120,000 for both white and brown beans, and ₦150,000 for honey beans.

These prices indicate a substantial financial burden for consumers who rely on beans as a primary protein source.

3. Price of Garri

Garri, a staple derived from cassava, is sold at varying prices depending on the quantity. A 1kg pack of garri is currently priced at ₦1,500, while a 5kg pack costs ₦7,500. For larger quantities, a 10kg pack is sold at ₦15,000. These prices reflect the increasing cost of garri, which is a fundamental part of many Nigerian meals.

4. Price of Tomatoes

Tomatoes, essential for many Nigerian dishes, have also seen a price surge. A small basket of tomatoes is currently priced at ₦6,500. For those seeking premium quality fresh tomatoes, a big basket ranges from ₦45,000 to ₦70,000. The wide price range reflects the varying quality and availability of tomatoes in the market.

5. Price of Garri by Weight

The price of garri varies significantly based on the quantity purchased. Currently, 1kg of garri is priced at ₦1,000, 5kg at ₦5,000, and 10kg at ₦10,000. For larger purchases, a 25kg bag costs ₦25,000, a 50kg bag is ₦50,000, and a 100kg bag is ₦100,000.

For bulk buyers, 1 ton of garri is sold at ₦1,000,000. These prices underscore the importance of garri in the Nigerian diet and the impact of its rising cost on consumers.