Local Rice Prices Update: Check Current Costs Of Beans, Eggs, And Meat

Local Rice Prices Update: Check Current Costs Of Beans, Eggs, And MeatRecent data from the National Bureau of Statistics (NBS) reveals a substantial rise in the prices of local rice and beans over the past year. The September 2024 “Selected Food Price Watch” indicates that the cost of a 50 kg bag of local rice surged by 152.9% year-on-year, reaching ₦95,738 compared to ₦37,853 in September 2023.....KINDLY READ THE FULL STORY HERE▶

Additionally, the price of 1 kilogram of local rice has increased to ₦1,914.77. According to the NBS report, “The average price of 1 kg of loose local rice rose by 152.92% year-on-year, from ₦757.06 in September 2023 to ₦1,914.77 in September 2024, with a 4.57% increase month-on-month.”

The report also highlights that the average price of boneless beef rose by 99.99% year-on-year, from ₦2,816.91 in September 2023 to ₦5,633.60 in September 2024, marking a 1.44% month-on-month increase from ₦5,553.80 in August 2024. The average price for 1 kg of loose brown beans stood at ₦2,738.59, reflecting a staggering 281.97% increase from ₦716.97 a year ago, alongside a 6.37% rise from August.

Medium-sized agricultural eggs (12 pieces) saw a significant year-on-year price hike of 137.43%, rising from ₦1,047.47 in September 2023 to ₦2,487.04 in September 2024, with an 8.64% month-on-month increase from ₦2,289.19 in August 2024. Sliced bread also experienced a 115.74% price jump, moving from ₦708.36 to ₦1,528.19 year-on-year, and increasing by 4.68% from the previous month.

State-level analyses for September 2024 show that Bauchi recorded the highest average price for 1 kg of loose brown beans at ₦3,450.04, while Adamawa had the lowest at ₦1,800. For medium-sized agricultural eggs, Niger State had the highest price at ₦3,000.84, and Borno State the lowest at ₦2,075.58. In terms of sliced bread, Rivers State led with an average price of ₦1,852.50, while Yobe recorded the lowest at ₦982.79. Lastly, Kogi reported the highest average price for 1 kg of local rice at ₦2,688.04, while Benue recorded the lowest at ₦1,229.14.

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