Rice, Beans, Egg, Bread Defy Price Declines — NBS - Politics

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Rice, Beans, Egg, Bread Defy Price Declines — NBS - Politics - Nairaland

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Rice, Beans, Egg, Bread Defy Price Declines — NBS by iwaeda: 9:05am On Sep 26

At the backdrop of significant reductions recorded in the prices of some food commodities since last month, the prices of local rice, beans, egg and bread have remained on steady increases.

The Nigerian Bureau of Statistics, NBS, in its report titled, “Selected Food Price Watch for August 2024” released yesterday, said, the commodities recorded between 2.5 and 5.5 percent price rises in the month of August.

The report stated: “The average price of 1kg beans brown (sold loose) stood at N2,574.63. This indicates a 5.31 percent rise in price on a Month-on-Month, MoM, basis from N2,444.81 in July 2024.

“On a MoM basis, the average price of Agric eggs medium size (12 piece) rose by 5.48 percent to N2,289.19 from N 2,170.17 in July 2024.

“On a MoM basis, bread (sliced) increased by 2.28 percent to N1,459.85 from N 1,427.25 in July 2024. Furthermore, the average price of 1kg Local rice sold loose went up by 3.65 percent to N1,831.05 in August 224 from N1,766.64 in July 2024 on a MoM basis.”

According to the Bureau, the prices of these food items increased by over 100 percent year-on-year.

It added: “The state profile analysis in August 2024 reveals that the highest average price of 1kg of Beans Brown (sold loose) was recorded in Akwa Ibom at N3,276.79 while the lowest was in Adamawa state at N1,710.92. The highest average price of Agric eggs medium size (12 piece) was recorded in Niger State at N2,996.92 while the lowest was in Jigawa State at N1,786.01.

“Regarding the average price of bread (sliced), Rivers state recorded the highest price at N1,850, while Yobe recorded the lowest price at N908.81. Kogi recorded the highest average price of 1kg local Rice (sold loose) at N2,680.29, while the lowest was reported in Benue at N1,206.84.”

However, the Bureau also said the prices of tomatoes and yam declined MoM in August when compared to that of the previous month.

The NBS said that the price of tomato 1kg declined by 11.07 percent MoM to N1,506.35 from N1,693.83 in July 2024.

It added that the price of 1kg of yam tuber decreased by 7.8 percent to N1,661.80 from N1,802.84 in July 2024.

https://www.vanguardngr.com/2024/09/rice-beans-egg-bread-defy-price-declines-nbs/

3 Likes

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by Ofunaofu: 9:08am On Sep 26

1 Like

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by CyrusVI(m): 9:19am On Sep 26

Now, this is a Stats to believe, not that Statisense nonsense

I expect to see those who do not understand how to draw sound deductions from Statistical figures to come here to gnash their teeth

These are the most commonly eaten food in Nigeria, by population, we have thousands of people eating these everyday.

Its only normal to expect extortionists and greedy traders to keep hiking the prices of these goods, even when the prices have dropped at a wholesales market level

These traders/foodstuff sellers are our biggest problems

22 Likes 2 Shares

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by chumada: 9:19am On Sep 26

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by naten: 9:22am On Sep 26

In the end the poor pay for the sins of our Leaders

23 Likes 3 Shares

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by naijaboy756: 9:25am On Sep 26

With the amount of rice allegedly pumped into the economy by Tinubu if true, prices ought to have reduced to 60k

38 Likes 1 Share

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by henkey: 9:33am On Sep 26

Really stable foods are quite expensive.
Early July this year I bought a crate of egg 4500 , 2 days ago it was 5400, .
Reasons why there is decline in Yam, Tomatoes , patato , paper , Corn , it's because this time is the harvesting period.

21 Likes

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by YouGoRepent: 9:33am On Sep 26

So helinues will not see eggs to steal again ?

33 Likes 2 Shares

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by YouGoRepent: 9:35am On Sep 26

CyrusVI:

Now, this is a Stats to believe, not that Statisense nonsense

I expect to see those who do not understand how to draw sound deductions from Statistical figures to come here to gnash their teeth

These are the most commonly eaten food in Nigeria, by population, we have thousands of people eating these everyday.

Its only normal to expect extortionists and greedy traders to keep hiking the prices of these goods, even when the prices have dropped at a wholesales market level

These traders/market sellers are our biggest problems

Anything to make your cocaine sniffing master squirt from the anus is ok

Keep standing on that mandate

59 Likes 5 Shares

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by MadPolitician: 9:37am On Sep 26

What this government doesn't understand is that most basics used by Nigerians are imported. That is a very sad relaity that can not be rectified through a hatefilled blanket ban of imported products, or an astronomical increase of tariffs, without a corresponding eagerness to massively provide local substitutes through reinvigorated local production.

As long as other basic essentials that are used daily in our households are imported, and all go through the unbelievably high tariffs regime at the ports, producers and sellers of different local staples, will always factor these worrying realities into the prices of the goods they sell on daily basis. Put succinctly; I'm not going to sell a bag of rice to you for 20k, then when i go to pay the school fees of my child, i will have to drop 500k where i used to drop 200k. So..

Thats where we are at the moment

15 Likes 1 Share

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by jmoore(m): 9:49am On Sep 26

CyrusVI:

Now, this is a Stats to believe, not that Statisense nonsense

I expect to see those who do not understand how to draw sound deductions from Statistical figures to come here to gnash their teeth

These are the most commonly eaten food in Nigeria, by population, we have thousands of people eating these everyday.

Its only normal to expect extortionists and greedy traders to keep hiking the prices of these goods, even when the prices have dropped at a wholesales market level

These traders/market sellers are our biggest problems

Why not become a trader, crash the price and be rich as more customers who patronize you for selling the cheapest?

Always opening mouth waaa.

The report didn't say wholesale prices have dropped but the programmed lying bot installed in you is saying the opposite.

66 Likes 3 Shares

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by MadPolitician: 9:52am On Sep 26

jmoore:

Why not become a trader, crash the price and be rich as more customers who patronize you for selling the cheapest?

Always opening mouth waaa.

Don't mind that robot.
Posts like an AI creation

20 Likes

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by Lanre1st(m): 10:18am On Sep 26

How many times should I tell you that “Economics principles are not working in Nigeria “

7 Likes

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by Zico5(m): 10:18am On Sep 26

Why are these Obidients attacking everyone left and right on every discussion. Why are they acting as if what's happening today is for those that did not support Peter Obi alone or they think this attack and abuse will make anyone change his or her direction towards voting him in the next election. Why can't these set of people maintain decorum? Why are they always uncourt, indiscipline and very rude? They think we the rest don't know what we are doing and that they are the set of people to change the narration of this country. It's a pity we have these set of people in our society.

3 Likes 1 Share

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by whytediamond(m): 10:20am On Sep 26

As you dey come spend time for Nairaland, try dey spend time dey grow your business.

If you no get business or you dey unemployed, find 2024 skill learn.

Like this, if I sell fashion items online, my dispatch rider go pick up, deliver.

I go dey house dey cash out.

Try learn 2024 skill so that even if everybody dey lament, you go dey fat, dey jolly.

No talk say you no get new update from Nairaland today o.

Mama Nkechi, biko ti nye kwuo ofe-akwu n'ofu isi anu hia.

7 Likes

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by PlayerMeji: 10:20am On Sep 26

No problem

iwaeda:

https://www.vanguardngr.com/2024/09/rice-beans-egg-bread-defy-price-declines-nbs/

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by fineboynl(m): 10:20am On Sep 26

.. egg is 200 and would soon jump to 300 and it will skip 250. This is what i have observed

A cup of ogbono use to sell for 500 but na 2000.
Let me analyze the way it increases to 2000.

From 500 it move to 550.
From 550 it move to 600
From 600 it move to 700
From 700 it move to 800
From 800 it move to 1000
From 1000 it moves 1200
From 1200 it moves to 1500
From 1500 it move straight to 2000
(It jumps with 500)

And I believe the next increase will be 1000 margin. Similar things happening with beans and other commodities.

Its the same theory happening with the exchange rate. I still remember when exchange fluctuates with kobo. Before it moves to 1naira and 2 naira. But today its from between 50-200naira

When the money keep losing value the gap at which things increases is far apart

15 Likes

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by IMASTEX: 10:22am On Sep 26

Too bad that food is now gradually becoming out of reach for the common man.

9 Likes

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by boxypane(m): 10:22am On Sep 26

Wetin we come dey chao?

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by Meti99(m): 10:23am On Sep 26

Ufuf

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by Gbadugbakun(m): 10:25am On Sep 26

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by Ayobeck(m): 10:25am On Sep 26

God will forgive this our government,because I won't curse them.i don't know tomorrow maybe I can fall into this as well.wen I rule over people of this country.but God see my heart,I will never be greedy or heartless to the point I see people suffer..seun keep this my comment for me n people to read in future.this is part of my campaign...my reference must not domain

4 Likes

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by dadabashua1(m): 10:26am On Sep 26

CyrusVI:

Now, this is a Stats to believe, not that Statisense nonsense

I expect to see those who do not understand how to draw sound deductions from Statistical figures to come here to gnash their teeth

These are the most commonly eaten food in Nigeria, by population, we have thousands of people eating these everyday.

Its only normal to expect extortionists and greedy traders to keep hiking the prices of these goods, even when the prices have dropped at a wholesales market level

These traders/foodstuff sellers are our biggest problems

statisense are the most useless and deceitful body, I only believe stats from the reputable NBS any other one i don't even waste my time looking at it.

3 Likes

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by ElevationD: 10:26am On Sep 26

But recently they celebrated the drop in food prices.
Abi beans, bread and eggs are not food anymore?

2 Likes

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by cucumbar: 10:27am On Sep 26

CyrusVI:

Now, this is a Stats to believe, not that Statisense nonsense

I expect to see those who do not understand how to draw sound deductions from Statistical figures to come here to gnash their teeth

These are the most commonly eaten food in Nigeria, by population, we have thousands of people eating these everyday.

Its only normal to expect extortionists and greedy traders to keep hiking the prices of these goods, even when the prices have dropped at a wholesales market level

These traders/foodstuff sellers are our biggest problems

so we don Dey chop statistics now?

Foolish supporters of the agbadorian government.

6 Likes

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by Dexy4yah(m): 10:27am On Sep 26

Useless government

3 Likes

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by Omalicious1: 10:28am On Sep 26

iwaeda:

https://www.vanguardngr.com/2024/09/rice-beans-egg-bread-defy-price-declines-nbs/

Reduce the cost of petrol which is being used for transportation and watch the price drop...because at the end of the day, the traders would blame it on the cost of transportation

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by CodeTemplarr: 10:30am On Sep 26

Not according to corn-veterans.

Re: Rice, Beans, Egg, Bread Defy Price Declines — NBS by Dreal1247: 10:30am On Sep 26

Audio decline in prices of goods when the exchange rate keeps rising. Some of the so called declining is as a result of poor patronage experienced by some business owners. Unfortunately, the trend will end up killing their business as they make little or no profits.

2 Likes

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