Borno and Yobe States Market Monitoring Report – Issue 27 (July 2019) - WFP-VAM
|Post date||Thursday, 22 August, 2019 - 23:07|
|Document Type||Monitoring Report|
|Content Themes||Agriculture, Cash and Vouchers, Markets, Food Assistance, Food Security|
This market price bulletin presents a snapshot of 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. 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:
• Even with the onset of the lean season, adequate market supply of staple food commodities has contributed to stability or reduction in the prices in July 2019 compared to April 2019. This is attributed to favourable market availability of supplies from 2018 harvest carryover stock. Traders and farmers who usually stock and sell during the cultivation period are releasing such stocks to earn income to hire labour, purchase inputs such as fertilizer, pesticides and seeds.
• In July, price of peanuts and red beans recorded a significant decrease compared to the past 3 months (April 2019) across most markets in Borno and Yobe States. For instance, the following decrease have been recorded for peanuts in Monday (-23%), Abbaganaram (-21.%), Kasuwan Shanu (-20%) and Budum(-17%) and for red beans in Potiskum (-48.3%), Nguru (-33.3%), Damaturu (-21.8%) and Geidam (24.2%).
• Between June and July 2019, the cost of the Survival Minimum Expenditure Basket (SMEB) for a family of 5 decreased by 2 percent from 16,491.93 Naira to 16,141.81 Naira in Maiduguri following decrease of food prices. However, in Damaturu, during the same period it increased by 1 percent from 11,679.15 Naira to 11,799.38 Naira. The slight increase of SMEB can be attributed to an increase in the retail price of maize flour and red beans indicating the onset of the lean season.
• Most conflict-affected households remain at heightened risk of food insecurity as depleted stocks at household level and diminished purchasing power limits access to available supplies in the market.