In June 2024, the prices of tomatoes, beans, and garri surged by more than 200 percent compared to the same period in 2023.
The National Bureau of Statistics (NBS) released its Selected Food Price Watch for June 2024, revealing that the price of 1kg of tomatoes increased by 320.67 percent year-on-year (YoY) to N2,302.26, up from N547.28 in June 2023.
Similarly, the price of 1kg of brown beans (sold loose) rose by 252.13 percent YoY, reaching N2,292.76 in June 2024 from N651.12 in June 2023.
The report also highlighted that the price of 1kg of Irish potatoes grew by 288.5 percent, rising to N2,423.27 in June 2024 from N623.75 in June 2023.
According to NBS: “The average price of 1kg of brown beans (sold loose) increased by 252.13 percent YoY from N651.12 in June 2023 to N2,292.76 in June 2024, with a month-on-month rise of 14.11 percent from N2,009.23 in May 2024. Tomatoes (1kg) saw a YoY price increase of 320.67 percent, from N547.28 in June 2023 to N2,302.26 in June 2024, and a month-on-month rise of 55.59 percent from N1,479.69 in May 2024.
“There was a notable YoY price increase of Irish potatoes by 288.5 percent, from N623.75 in June 2023 to N2,423.27 in June 2024, and a month-on-month rise of 51.92 percent from N1,595.07 in May 2024. Additionally, the average price of 1kg of white garri (sold loose) rose by 181.66 percent YoY, from N403.15 in June 2023 to N1,135.51 in June 2024, with a month-on-month increase of 1.86 percent.
“The average price of 1kg of yam tuber increased by 295.79 percent YoY, from N510.77 in June 2023 to N2,021.55 in June 2024, with a month-on-month increase of 52.87 percent from N1,322.36 in May 2024 to N2,021.55 in June 2024.”
The report also noted that the highest average price for 1kg of brown beans (sold loose) was recorded in Kogi State at N3,006.43, while the lowest was in Adamawa State at N1,336.11. The highest average price for 1kg of tomatoes was in Abuja at N3,992.61, and the lowest in Kebbi State at N1,200.00.
In related news, Lagos State recorded the highest average price for 1kg of yam tuber at N3,376.54, while Adamawa recorded the lowest at N1,100.00. Gombe had the highest average price for 1kg of white garri (sold loose) at N1,619.27, and Taraba had the lowest at N900.
