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Inflation As Price Of Beans Rise In Lagos - Agriculture - Nairaland

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Inflation As Price Of Beans Rise In Lagos by Julietcutie(f): 12:10pm On Jul 16, 2016
The price of 100 kg bag of beans at the popular Mile 12 Market in Lagos , has slightly increased from N 22 , 000 to N23 , 000 . This new price regime is contained in a commodity index provided by Novus Agro Nigeria Ltd on Friday in Lagos .
Enumeration Specialist at the agro firm, Miss Avadoo Gaadi , said the reason for the increase was due to few numbers of farmers planting beans due to inadequate rainfall coupled with high demand for beans.
“Our inquiries from beans producing states in the country revealed that last year, few farmers planted beans due to scarcity of rain .
“We do not have enough beans in the market right now ; and there is high demand for the commodity.
“People who have beans in stock are holding on to what they have while those who are willing to sell are giving it out at high prices, ’’ she said.
Miss Gaadi however , explained that the price of a paint bucket measure of beans remained stable at N 1, 000 at the market last week .
According to the firm’ s findings , the price of 100 kg bag of onions reduced slightly to N 16 , 500 as against the N16 , 667 it sold a week earlier while 2 kg bag of onions goes for the same price at N 500 .
However, the prices of other commodities remained stable at the market, a development the agro company attributed to epileptic rainfall and the low purchasing power of consumers .
For instance , the price of a 50kg bag of imported rice was stable at N 13, 500 while 100 kg bags of groundnut , sorghum , soya beans and maize sold for N26 , 000 , N10 , 000 , N 7, 000 and N 11 , 000 respectively .
The price of 60 kg bag of garri was also stable at N 12 , 800

Re: Inflation As Price Of Beans Rise In Lagos by locosis007(m): 12:13pm On Jul 16, 2016
Leave beans

Chop corn or millet.

Seriously Nigeria is heading for the rocks..

Buhari we need a turn around.

I know u can give us that. I believe

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