Nigerians Stock Up Massively as Tomato Prices Crash Across Markets

• After months of buying tomatoes at very high prices, Nigerians now have cause to rejoice as the prices have crashed massively
• Checks from traders and farmers show that tomatoes have crashed by up to 90% compared to the prices as at May 2024
• Farmers and growers association have advised consumers to consider buying and preserving the product for the rainy days

Legit.ng journalist Ruth Okwumbu-Imafidon has over a decade of experience in business reporting across digital and mainstream media.

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.

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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.

Consumers are advised to stock up

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.

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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;

“This tomato glut usually leads to almost 50 percent post-harvest losses because we lack storage facilities, cold rooms, and other technologies to preserve the tomato and other vegetables. Presently, we only have a few functioning tomato processing facilities to help reduce our post-harvest losses we witness annually.”

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.

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FG moves to crash food prices

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: Legit.ng