Agro Commodities-Novus Agro Commodity Index (NANCI)
The price of some Agro commodities in Nigeria has recently been on the high side, there are many factors that are responsible for the price increment in the Nigerian markets.
Currently, the wholesale price of tomato from Mile 12 Market and Oke-Odo Market both in Lagos State are NGN25, 000 and NGN20, 000 respectively as against the previous price of NGN10000 at Mile 12 and NGN6000 at Oke-Odo Markets, while from Ajah Market, the price is NGN26, 000 as against the previous price of NGN13, 000
Additionally, garri has been incredibly high for a while now, from Mile 12 Market, with a current wholesale price of NGN25, 000 for Yellow and White garri while the retail price (paint bucket) of both Yellow and white garri goes for NGN1200
Groundnut edible and Kampala from Mile 12 market are sold NGN39, 000 respectively, while from Iddo market, the groundnut edible is sold NGN42, 000. Though maize and groundnut have been a bit stable across the markets.
Generally, the prices of some Agro commodities in Nigeria markets have been on the high side for quite some time, and this is partly due to the interplay of the forces of demand and supply, and other seasonal factors which affected the supply of tomato and other commodities.
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Chiamaka Onyebuchi, Online Marketing Professional, Novus Agro Nig.