Garri, a widely consumed staple food in Nigeria and other West African countries, is experiencing price fluctuations influenced by various factors.>>>READ FULL ARTICLE HERE
Known for its versatility and importance in the diet of millions, garri’s price variability affects households across Nigeria.
The cost of a 50kg bag of garri is subject to several determinants, including location, transportation costs, and the type of garri, with Garri Bendel, garri Ijebu, white garri, and yellow garri being the most popular variants in the Nigerian market.
Key Factors Affecting Garri Prices
1. Cassava Supply: As garri is derived from cassava, the availability and price of this root crop directly impact garri prices. Fluctuations in cassava supply, due to factors such as crop yield and farming practices, can significantly affect garri’s market price.
2. Weather Conditions: Weather extremes, including droughts and excessive rainfall, can hinder cassava cultivation, leading to reduced supply and increased prices for garri.
3. Processing Costs: The process of transforming cassava into garri involves labor, energy, and equipment, all of which contribute to the final cost. Any increase in these processing costs can lead to a rise in garri prices.
4. Transportation Costs: The logistics of moving garri from rural production sites to urban markets add to its price. Variations in fuel prices and transportation costs can, therefore, result in price differences across regions.
5. Demand and Supply Dynamics: Seasonal demand surges, such as during festive periods, can push garri prices up, especially if production levels do not match the increased demand.
6. Exchange Rates: The cost of imported machinery and inputs used in garri production can be influenced by exchange rate fluctuations, affecting the overall cost of production and, consequently, retail prices.
7. Storage and Preservation: Inadequate storage and preservation facilities can lead to post-harvest losses, reducing cassava availability for garri production and impacting prices.
8. Quality and Packaging: The market offers garri in various qualities and packaging options. Premium quality or branded garri often comes at a higher price than its lower-quality counterparts.
Here is the price of garri in major cities in Nigeria:
Lagos: N1,400 to N1,600 per paint bucket
Abuja: N1,500 to N1,600 per paint bucket.
Port Harcourt: N1,500 to N1,600 per paint bucket.
Kano: N1,500 to N1,700 per paint bucket.
Ibadan: N1,300 to N1,500 per paint bucket.>>>READ FULL ARTICLE HERE
