Goodnews: Tomato, Pepper Prices Slump By 60%
LAGOS AUGUST 13TH (NEWSRNAGERS)-As the new harvest season unfolds, markets across Lagos and Abuja have seen a significant drop in the prices of tomatoes and peppers. At the bustling Ketu and Berger markets in Lagos, traders report that the price of a large basket of tomatoes has plummeted to between N55,000 and N60,000, a sharp decline from the previous peak of N150,000 just a few months ago.
The soothing dramatic shift for consumers is largely attributed to the arrival of fresh produce from the northern regions, as the seasonal harvest of Hausa tomatoes and peppers begins to flood the markets. One trader who spoke to The Cable at Ketu market shared that a crate of tomatoes, once commanding N55,000, is now being sold for just N30,000. Similarly, the price of a large basket of habanero pepper, locally known as rodo, has fallen to an average of N25,000, a significant drop from the N55,000 it fetched during the height of the price surge. Another trader noted that a small basket of tomatoes, which previously cost between N30,000 and N34,000, is now priced between N20,000 and N25,000. Likewise, the cost of a small sack of pepper has been slashed from N50,000 to between N15,000 and N20,000.
The price reduction trend continues at Berger market, where traders report that a large basket of tomatoes has dropped in price from a range of N150,000 to N200,000 to approximately N50,000 to N60,000. A crate of tomatoes, which once sold for N35,000, now goes for N15,000. Additionally, the largest sack of habanero pepper has seen its price fall to N19,500, a steep decline from its previous range of N200,000 to N230,000. Even the price of a medium sack of this pepper has plummeted from N130,000 to N17,500. Traders also mentioned that a large bowl, commonly referred to as a “rubber,” of cayenne pepper (bawa) now sells for between N8,000 and N9,000, down from the previous price of N28,000.
One trader explained that these price reductions are due to the seasonal abundance of produce, coupled with improved petrol availability, which has eased transportation challenges. This sentiment was echoed by Muhammed, a trader at Dutse market in Abuja, who revealed that a basket of tomatoes now sells for N8,000, down from the previous price of N13,000 to N15,000. He also noted that red bell peppers, or tatashe, are now being sold for N7,500, a decrease from N12,000. Habanero peppers, which once cost between N13,000 and N15,000, are now priced at N9,000, while cayenne peppers have dropped from N12,000 to N8,000.
Muhammed pointed out that price fluctuations are a natural part of the market’s ebb and flow, driven by the cyclical nature of harvests. “Sometimes the price goes up, and sometimes it comes down. We sell based on how we buy,” he remarked, highlighting the inherent unpredictability of the market. Another trader, Musa, noted that the current price drops are due to the increased supply, which has alleviated the scarcity experienced in recent months.
Anticipated price stabilisation from August to November
In recent months, the surge in tomato prices across Nigeria has raised concerns, especially following the devastation caused by the tomato leaf miner, *Tuta absoluta*, in northern farms. This pest, capable of causing total crop failure if left unchecked, was responsible for the severe supply shortage earlier this year. The Tomatoes Growers Association of Nigeria had previously cited this outbreak as the cause of the sharp price increases, with the National Bureau of Statistics (NBS) reporting a 55 percent rise in the cost of tomatoes and other food items in June.
However, as the new harvest season progresses, prices are beginning to ease.
Sani Danladi, the national chairman of the Association of Tomato Growers, Processors, and Marketers of Nigeria, confirmed that the current price for a large basket of tomatoes is now around N25,000 to N30,000, down from the previous high of N80,000 to N90,000—a 60 percent reduction. Danladi attributes this drop to the onset of the wet season harvest and expects prices to stabilize between August and November, making tomatoes more affordable for consumers nationwide.
Sun News
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Posted by News Rangers
on Aug 13 2024. Filed under Business, National.
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