Borno and Yobe States Market Monitoring Report – Issue 31 (November 2019) - WFP-VAM
|Post date||Thursday, 19 December, 2019 - 15:42|
|Content Themes||Agriculture, Cash and Vouchers, Markets, 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. Key highlights include:
• In November, the overall retail prices of staple food commodities remained stable compared to the last months, particularly in Borno State. The price stability could be attributed to the replenishment of household and market stocks following the ongoing 2019 harvest and food assistance.
• Compared to the last months, the average price for red beans, local and imported rice increased across all monitored markets in Yobe but remained stable in Borno State. In Yobe, the price increases for imported rice were recorded most significantly in markets in Yusufari (33.3%),Yunusari (26.3%), Damaturu (26.3%), Potiskum (22.2%), Nguru (11.8%) and Geidam (11.1%) due to reduced market supplies resulting from the recent border closure. The reduced supplies of imported rice also resulted in the price increase of local rice.
• Between October and November 2019, the cost of the Survival Minimum Expenditure Basket (SMEB) for a family of 5 remained stable, with no significant percent change from 15, 666.53 Naira to 15,731.42 Naira in Maiduguri and Jere. On the other hand, in Damaturu, during the same period the SMEB decreased by 3 percent between October and November (from 13,960.80 Naira to 13,579.65 Naira). The SMEB consists of key staples (rice, maize, beans and peanuts) which account for 85 percent of the food basket. Important to point out that the SMEB applies to Maiduguri and Damaturu only.
• Market supply from the October to November harvested grains is contributing to increased access to staple food and is likely to lessen the pressure on the purchasing power of market-dependent households.