Borno and Yobe States Market Monitoring Report – Issue 30 (October 2019) - WFP-VAM
|Post date||Monday, 25 November, 2019 - 15:03|
|Content Themes||Agriculture, Markets, Food Assistance, Food Security|
This market price bulletin provides a snapshot of the fluctuations and changes in the prices of key staple food commodities which are important for calculating the cost of food basket for households in north eastern Nigeria. It is on this backdrop, that WFP undertakes a biweekly monitoring of food commodities to gauge how vulnerable and market-dependent households are affected by food price changes and the resulting impact of such changes on the cost of the food basket. In Borno State, the monitored markets include Monday market, Abbaganaram, Budum, Kasuwan Shanu, Bullumkutu, Baga Road, Tashan Bama, Custom market. On the other hand in Yobe State, Damaturu, Bursari, Gujba, Potiskum, Jakusko, Geidam, Yunusari, Yusufari, Bade, Nguru and Gulani markets are monitored. Key highlights include:
• The prices of staple cereals in October 2019 showed slight increase in Yobe and Borno markets, when compared to the three (3) month’s prices, with the most significant increase observed in some markets in Yobe state.
• In Yobe, the prices of red beans, imported and local rice recorded a considerable increase. Recent Nigerian governments directive to restrict importation as evident in the border closure with Benin and Niger Republics may explain the increase.
• Compared to three months ago (July 2019), the price of imported rice increased by 11.1% in Geidam, 17.6% in Nguru, 22.2% in Potiskum, 26.3% in Damaturu, 29.0% in Yunusari and 33.3% in Yusufari. Similarly in markets of Borno, prices of imported rice have begun to increase when compared to the month of July. However, this increase was more noticeable on a month to month (October-September) as the retail price of imported rice witnessed a month-on-month increase of 5.2% in Monday market, 5.9% in Abbaganaram, 6% in Kasuwan Shanu, 6% in Bullumkutu, 7% in Tashan Bama markets.
• Between September and October 2019, the cost of the Survival Minimum Expenditure Basket (SMEB) for a family of 5 increased by 2 percent from 15,329.16 Naira to 15, 666.53 Naira in Maiduguri and Jere owing to a slight increase in some food prices in Borno state markets. On the other hand, in Damaturu, during the same period the SMEB decreased by 4 percent between September and October (from 14,537.25 Naira to 13,960.80 Naira). The SMEB consist of key staples (rice, maize, beans and peanuts) which account for 85 percent of the food basket.
• Main harvests across the country is underway, therefore food prices are anticipated to remain stable or decline in November, with market supplies improved and stocks replenished at households level.