Drop in prices of staple foods excites traders in Ondo, Osun, Ekiti

Food sellers in Ondo, Osun and Ekiti States have observed a drastic reduction in prices, attributing it to factors like the government’s agricultural interventions, increased production, and seasonal price reductions of agricultural produce.

A survey conducted by our correspondent in major markets in Ondo, Osun and Ekiti States revealed a significant reduction in the market prices of several staple food items, such as rice, beans, and garri.

The traders expressed excitement over the reduction in the prices of foodstuffs, hoping for the sustainability of the reduction as consumers were beginning to enjoy the respite.

Mrs Aderemi Ganiyu, a rice seller in Alekuwodo Market in Osogbo, Osun, said the current price of a bag of rice dropped to N57,000 compared with N65,000 in October.

Similarly, Musa Muhammed, a bean seller, said the price of a mudu of red beans is now selling for N2,000 as against N2,500 three weeks ago.

He added that the price of white beans has also dropped to between N1,400 and N1,800 as against N2,000.

According to him, the bountiful harvest experienced by farmers last year is responsible for the drop in the price of foodstuffs across the market.

Mr Deji Adejare, an economist, attributed the drop in food prices to seasonal price reductions of agricultural and imported food items.

Adejare, however, said the decline could be sustained if the government extended the window for importing food items and invested heavily in agriculture.

“In order to keep the prices of food items down, the government should provide adequate security for farmers to operate, especially in the north.

“The government should also provide grants, farming tools, materials and tractors to boost food production.

“The government should establish a system where surplus harvests are bought from farmers to save them from losses and keep them in business,” he said.

He added that, most importantly, the government must establish food‑storage and preservation facilities to curb persistent post‑harvest losses and generate food surpluses.

In Akure, food sellers at Isikan Market expressed excitement over increased patronage and sales volume following a significant drop in the prices of staple foods such as beans, garri, and rice in the local markets.

Similarly, Mrs Taoheebat Akande, a foodstuff seller at Owo‑Ede Market, said the prices of garri and yam have dropped drastically due to some government policies.

Akande, who spoke with excitement, said a mudu of rice, which used to be sold for N3,200, now sells for N2,000.

Mrs Kafayat Ganiyu, a foodstuff seller in the same market, said the prices of local rice, beans, garri and yam continued to crash in the market, due to government policy and bumper harvest by farmers.

Ganiyu stated that a mudu of Nigerian rice sold between N2,500 and N2,800 four months ago, now sells between N1,800 and N2,000.

She equally disclosed that a mudu of garri, which was sold for N1,000 about three months ago, now goes for between N500 and N400, while a mudu of beans sold N2,000, has crashed to N1,500.

Mrs Alhaja Osuolale, a food seller Oba-Ile Market, noted that the price depends on the food items, stating that a keg of vegetable oil, which was averagely sold at N70,000 four months ago, now selling between N60,000 and N64,000.

“A bag of foreign rice is selling between N60,000 and N64,000, as against N70,000, which it was sold two months ago,” she said.

Also, Prof. Victor Enujiugha, Department of Food Science and Technology, Federal University of Technology, Akure (FUTA), said the high risk faced by farmers due to banditry and kidnapping was a major reason for high cost of foodstuffs.

Speaking, Chief Abidodun Adejo, the Chairman, Ondo State Agricultural Commodities Association (OSACA) said government must take agriculture as its priority considering the exponential increase in population.

Adejo asked states in the southern part of the country to invest in agriculture and assist farmers so that there would be surplus, thereby bringing down price of foodstuffs.

In Ado-Ekiti, Mr Ayodele Boluwaji, a food seller at the popular Bisi Market in Ado-Ekiti, said a bag of foreign rice sold for N85,000 a year ago, now sells for N75,000.

Boluwaji said the price of a mudu of foreign rice that was sold for N3,000 last year, now goes between N2,500 and N2,300.

The food seller noted that the drop in price of dollar contributed to the reduction in the price of foreign rice, adding that many farmers also planted rice this year.

He said a bag of Nigeria rice, which sold for N60,000 last year, now sells for N44,000, while Nigerian rice that was sold at the rate of N2,000 per mudu six months ago, has reduced to N1,700.

He said that a mudu of red beans now selling for N2,000 as against N3,000 sold eight months ago.

An economic expert, Dr Olawale Adesina, urged government at all levels to reduce taxes on food traders.

He called on government at all levels to provide more support for farmers to cultivate higher quantity of food and open the borders for the inflow of cheaper imported items.