Demand, Supply Forces Influence Food Prices

0
472

By,VICTOR DAZANG
 
Following the aftermath of the festive 2017 period, prices of some categories of food items have been hiked while others decreased owing to forces of demand and supply in Kaduna.
This was confirmed on Friday by New Nigerian Newspapers after a detailed market survey.
Major food items such as rice and foreign edible oil decreased in prices. The former was sold for N15,800 per 50KG bag during the festive period but now commands N15,000 per same size bag.
Irish potato which falls in the category of the above as a major food item is on the decrease owing to low relative demand in contrast with the festive period. The medium sized basket which was sold for N2,000 during the festive period now goes for N1100.
Other categories on the increase are sweet potato due to increased demand. Guinea corn and maize are also on the increase with the latter selling for N13,000 presently against N9,000 during the festive period. The former also increased from N8,000 to N,9000 presently.

LEAVE A REPLY

Please enter your comment!
Please enter your name here