Borno and Yobe States Market Monitoring Report – Issue 24 (February 2019) - WFP-VAM
|Post date||Saturday, 16 March, 2019 - 10:21|
|Document Type||Monitoring Report|
|Content Themes||Agriculture, Cash and Vouchers, Markets, Food Security|
Monitoring the market prices of staple food items is crucial for understanding how changes in the cost of those items affect households access to food. On the basis of this, 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. In Yobe State, Damaturu, Bursari, Gujba, Potiskum, Jakusko, Geidam, Yunusari, Yusufari, Bade, Nguru and Gulani markets are monitored. Key highlights include:
• Overall, food prices have continued to decline or remain the same across most monitored markets in Borno and Yobe states. A downward trend in the prices of maize, imported rice, red beans and sorghum has been observed when compared to the prices in February 2018. This is mainly attributed to favourable market supplies and stock levels since the end of the 2018 harvest.
• Prices of maize flour also decreased significantly (-17% to –42%) during the past 3 months in most markets in Yobe and Borno States.
• The cost of the Survival Minimum Expenditure Basket (SMEB) for a family of 5 decreased by five percent from 18,071.13 Naira to 17,215.695 Naira in Maiduguri. Similarly, in Damaturu the cost of SMEB decreased by 18 percent from 15,532.65 Naira to 12,798.45 Naira.
• During the reporting period, most of the monitored markets were generally functioning with relatively stable conditions.
• In the short run, the purchasing power and food security situation of urban households, who mainly depend on local markets to cover their needs, is believed to have improved.