As at yesterday 31/8/2016 price of oil palm crashed.4 litre now sells for between 850-1000 in most markets in delta state.

krasican:
As at yesterday 31/8/2016 price of oil palm crashed.4 litre now sells for between 850-1000 in most markets in delta state.

What caused the crash?

Because Nigerians are heartless and increase prices arbitrarily. 1% increase in fuel prices and they increase their prices by 1000%.
They increase prices arbitrarily such that their customers cannot afford their products. They have no choice but to come down.
This is why many informal sectors of the economy gave to go formal.
Sector like transportation,agriculture,commerce etc.

I like the word "price crashes" but not when naira keeps crashing

Yes, there's a price crash, but only on the pages of NL

maclatunji:


What caused the crash?

over production

Tyche:
Yes, there's a price crash, but only on the pages of NL

Don't mind that guy...Palm oil is 11500 to 12,000. Some might steal it and sell for u 5k that does not change the market price... Na so dem talk say rice na 12k for kano say it go reach Lagos soon.. But when it reach Lag na 20k dem com dey sell am...