Prices of tomatoes have finally plunged, thanks to the harvest season abundance.
Reports from traders and farmers reveal that the excess tomatoes in the market caused a major crash in prices.
A 50kg basket of tomatoes now sells for as low as N10,000 to N12,000 in some states in Nigeria.
The big basket of tomatoes that sold for as high as N150,000 in May 2024, now sells for N13,000 to N15,000.
This crash in tomato prices is happening even when prices of other food items like rice, beans, garri and egg, are still on the rise. The TRIBUNE reports that this crash in prices is a regular occurrence seen between January and March every year, as the dry season allows for abundant tomato harvest.
Traders in Lagos state have confirmed the drop in tomato prices, noting that despite economic challenges, many are already taking advantage of the affordable price to stock up.
With this new crash in prices, Nigerians can breathe a sigh of relief as the high food inflation was already causing much worry.
According to Mr. Rabiu Zuntu, the Chairman of the Kaduna State Chapter of the Tomatoes Growers and Processors Association of Nigeria, this is a perfect time for Nigerians to buy many tomatoes and preserve them ahead of the rainy season.
Zuntu noted that the absence of good preservation technologies and storage facilities in Nigeria usually leads to the loss of a bulk of the product during this harvest season. Sometimes, as much as 50% of the product is lost during the glut period.
Speaking to NAN, he said;
He advised consumers to buy and preserve during this period, as prices are bound to push up by the end of the dry seasons again.
He suggested some reliable preservation methods consumers can use like boiling, blending, storing in airtight containers, or even burying them underground in a humid temperature to preserve freshness.
In a recent development, the federal government recently launched Operation Empty The Stores initiative to crash down food prices so that consumers can afford them.
It will also boost food production across all the states, as equipment and input will be distributed to farmers through the Ministry of Agriculture and Food Security.
The announcement was made during a one-day workshop themed “Building Partnership with The Media for Food Security” held in Abuja recently.
According to the presiding Minister Marcus Olaniyi Ogunbiyi, this initiative will be a core part of President Bola Tinubu’s renewed hope agenda.
Source: TimesNow.com.ng