Price of onion crashes in Katsina, 100kg bag sells for N10,000

Price of onion crashes in Katsina, 100kg bag sells for N10,000

- The price of onion has crashed by the margin of N20,000 in Katsina state

- The 100kg bag of onions which used to go for N30,000 now goes for N10,000

- The development was tied to the great supply of the commodity which is more than demand

The price of onions has fallen from N30,000 per 100kg to N10,000 in Katsina state.

A market survey conducted by the News Agency of Nigeria (NAN) on Thursday, April 4, in Katsina showed that two months ago 100kg bag of onions was being sold at N30,000.

The survey carried out showed that onions, two months ago, were got from Borno state where the traders travelled to source for them.

When the state chairman of Vegetable Sellers Association, Alhaji Ahmed Mohammed, was contacted, he attributed the development to the huge availability of the commodity in the area.

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Mohammed disclosed that local farmers in the state started harvesting their onions in the month of March which they planted in very large quantities, while adding that the huge supply of the onions made the price to crash.

NAN also reports that the Katsina state tomato market has been flooded with onions because there is no local preservation method to store the commodity properly.

Recall that previously reported that the National Bureau of Statistics (NBS) said the average price of some selected food items in the country decreased in February.

NBS said this in its “Selected Food Price Watch (February 2019)’’ report released on Tuesday, March 19.

It was reported that the NBS said the average price of one dozen of medium sized agric egg decreased from N469.85 in January to N464.27 in February.

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The bureau said price of a dozen of medium sized egg decreased year-on-year by 10.55% and month-on-month by 1.19% in the period under review.

It said the average price of a piece of medium sized agric egg increased year-on-year by 2.33% and month-on-month by 0.12% to N42.23 in February from N42.18 in January. ( -> We have upgraded to serve you better

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