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Commodity index for Nov 22 – Nov 29, 2017 released by Novus Agro Nigeria for select markets across the country showed that Dawanau market in Kano State recorded price increases in most of the selected commodities for this week, like edible groundnut (100kg), which averagely sold for N24,800 this week as against N24,000 selling price last week, unlike soybeans, which fell to N12,880 from a previous price of N13,000.
Imported rice (50kg) rose to N13,120 higher than last week’s N12,640 price. Also, drum beans (olotu, 100kg) sold for N24,320 this week which was still higher than last week’s N24,000. Maize (white, 100kg) for this week averagely sold for N8,640 slightly higher than N8,240 from last week’s price. Prices changed rampantly in most of the commodities. We should expect increase in most commodities as the year comes to an end.
Bodija market in Oyo State had little price variation to the barest minimum similar to last week’s. A bag of white maize (100kg) sold averagely for N10,000 just as last week’s; the same with soybeans and drum beans (olotu), which sold for N17,500 and N38,000 respectively. Edible groundnut (100kg) bag fell to N28,200 from a previous N28,500 while imported rice (50kg) bag sold for N13,920 a bit more than N13,300 last week.
Gombe main market in Gombe State had market prices as fair as possible. Imported rice (50kg) sold for N15,800 just as last week’s price. Similarly, soybeans (100kg) remained unchanged at N15,000; white maize was sold for N10,500 a bit higher by N1,500; while drum beans (olotu, 100kg) bag remained at N30,000 as last week’s price.
At Maikarfi main market in Kaduna State, edible groundnut (100kg) average sale for this week rose to N29,000 a bit higher than last week’s by N2,000; white maize (95kg) sold for N8,000 unchanged from last week’s; as soybeans of 100kg went higher by N1,000 from what was traded last week.
At Relief market in Anambra State, all commodities in this market went as though there were no fresh breath in it. Imported rice (50kg) bag cumulative average for this week selling at N16,000, the same as last week’s market price; likewise, white maize (100kg) bag sold for N20,000 this week; similarly, edible groundnut (100kg) bag also sold for N38,000; and sorghum red (100kg) bag went for N22,500 both prices unchanged. Drum beans (olotu) and soybeans (100kg) bag remained just as their last week’s price.
We expect that as we move into the last lap of the year, from next week, new prices will start taking effect.
