Price of Yam in Nigerian Market Today
Yam is a starchy staple in the form of large tubers that are widely grown in humid tropical environments and is another major staple food in Nigeria.
In Nigeria, yam is prepared at numerous events like traditional marriages and is commonly prepared into several dishes such as roasted, boiled, fried, pounded yam. Yam farming is mostly carried out by low-income smallholder farmers in rural areas across the country.
Nigeria is the largest yam producer in the world, contributing to two-thirds of global yam production each year, and approximately half of all Nigerian households consume the crop regularly, according to a World Bank report.
But in recent times, the challenges, combined with the current economic situations across the country have pushed yam prices beyond the reach of the average Nigerian.
At Garki market in Abuja, a yam seller, Mallam Lawan, said “100 pieces of yam sold for N75,000 some months ago now sell between N100,000 and N120,000.”
Five tubers of big-sized yam rose from N5,000 to N9,000. One medium-sized rose from N600 to N900, he said.
The price of yam tuber rose significantly across markets in Lagos State, recording a 66.4% price increase in the space of two weeks. Also, the price of Olaola Poundo Yam recorded a 23.7% increase in the period under review.
This is according to the bi-monthly market survey carried out by the research arm of Nairametrics, Nigeria’s top online news platform which comprises of four major markets in Lagos state namely; Oyingbo, Daleko, Mushin and Mile 12.
According to the report, a big-sized yam tuber initially sold for an average of N1,413 two weeks ago has galloped to an average of N2,350. In the same vein, a medium-sized yam tuber rose from an initial average of N875 to sell at N1,300.
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