25th June, 2014
Prices of food items have remained stable in some markets in Omu-Aran, Irepodun Local Government of Kwara, less than one week to the commencement of this year’s Ramadan fast.
A visit to the markets showed that the development was contrary to the usual expectation of an upward increase in prices of food items as Ramadan approaches.
Investigations revealed that some food items such as beans, yam flour, rice, guinea corn, pepper and vegetable oil are always in high demand during the Ramadan fast.
The development has, however, resulted in panic buying by residents as they now besiege some of the markets in large numbers to purchase the items to beat any eventual increase.
Investigations in some of the markets revealed that a 50kg. bag of rice irrespective of the brand costs N8,600, while the smaller size sold for between N7,600 and N7,400.
A sack of white beans still attracts between N14,000 and N15, 000 and honey beans cost between N13,000 and N13,500, while the slight difference in prices was due to the difference in sizes of the sacks.
Similarly, a sack of yam flour sold for between N28,000 and N30, 000 depending on the bargaining power of buyers, while a sack of wheat sold for N10,500.
A jerry can of vegetable oil and palm oil sold for between N6,100 and N5,600 respectively.
However, the increase in the prices of various brands of milk such as peak and three crown brands in most of the markets remained a source of concern to buyers.
Muslims give milk as gift to friends and family during the Ramadan period.
A tin of peak milk, previously sold for N120 now sells for N140.
Mrs. Joy Anifowose, a trader at Ago-Oru market, attributed the price stability to the availability of the food commodities in large quantity in most of the markets.
“The items are already in abundant supply in the markets, so, Ramadan or no Ramadan the prices still remain the same,” Anifowose said.
Malam Usman Yakubu, a dealer in pepper and vegetables, said the dealers had already made contingency arrangement by flooding the markets with food items to beat the usual increase.
Mrs. Risikat Adio, a dealer in household items, said there was nothing the petty traders could do to reduce the prices of milk brand as the increase had become a normal phenomenon when Ramadan approached.
She exonerated the milk manufacturing company from the increase, saying it was the handiwork of the dealers.