Prices Of Fresh Tomatoes Per Basket Per Kg In Nigeria (July 2024)

Tomato prices in Nigeria have skyrocketed in recent months, reaching N120,000 in some parts of Lagos and N100,000 in other states. This represents a staggering increase of over 300% when compared to the prices in January this year 2024.

The price increase has been attributed to various factors, including insecurity, high transportation costs, and inadequate security for farmers.

The current fresh tomato prices per basket per kg in Nigeria will be discussed in this post together with the elements behind the price rise and the effects of the current price increment on the Nigerian economy.

Also see: Cost Of Fresh Pepper Per Basket In Nigeria (July 2024)

Current Prices of Fresh Basket of Tomatoes in Nigeria

The following is a list of the prices available for fresh tomatoes in Nigeria as of July 2024:

• From our market survey, It costs between N120,000 and N160,000 to purchase a basket of tomatoes weighing 50 kg in Lagos, Abuja, Benin, Asaba, and other southern cities. while the price ranges from N90,000 to N120,000 in the northern states like Adamawa, Taraba, Nasarawa etc.
• For retail, a small waste bin basket of tomatoes is sold between N15,000 to N20,000, this same basket used to be sold for between N3,000 to N4000 as of January 2024.
• For Unit sales, about 5 pieces of average-size tomatoes now sold for between N1,500 to N2,000 from what used to be sold for between N300 to N500 as of January 2024.

Per Kilogram Prices of Fresh Tomatoes in Nigeria

The price of tomatoes per kilogram has also witnessed a significant increase, which can be attributed to the recent high basket prices.

Our study data indicates that prices per kilogram might range anywhere from N2,500 to N4,000, depending on the location and the quality of the product.

Factors Responsible For The Price Hike

Since the second quarter of 2024, the price of tomatoes in Nigeria have been on the rise; however, the recent boom can be linked to several factors, including the following:

Insecurity: 

The absence of proper security for farmers has resulted in a decline in the output of tomatoes, which has led to a shortage, which in turn has led to an increase in the price of tomatoes.

High cost of transportation:

Tomatoes have become more expensive for customers as a result of the high cost of transportation, which has led to an increase in costs associated with the production of tomatoes.

Lack of suitable storage facilities:

 As a consequence of the absence of adequate storage facilities, a significant quantity of tomatoes has been thrown away, which has further reduced the supply and led to an increase in costs.

Inflation

The recent inflation rate increase of 33.69% as reported by the National Bureau of Statistics (NBS) would generally affect the price of all commodities in the market, so tomato is not an exception. 

Impact Of The High Cost Of Tomatoes On Consumers And Businesses

There is a widespread impact being felt throughout Nigeria as a result of the spiraling prices of fresh tomatoes.

Consumers: Tomatoes are an important component of the diets of a significant number of Nigerians daily.

Due to the high prices, some households are forced to restrict their use of tomatoes or find other products. This is because the high prices create a strain on household budgets.

This can have a detrimental effect on the amount of food consumed as well as one’s general health.

Businesses: Businesses that rely significantly on tomatoes, such as restaurants and food vendors, are also experiencing the effects of the economic downturn.

They may be forced to boost menu pricing or reduce portion sizes as a result of increased tomato expenses, which may affect both consumer satisfaction and profitability overall.

Implications Of The Price Hike On The Economy

It is anticipated that the rise in the cost of tomatoes will have significant repercussions for the economy of Nigeria, including the following:

• Increase in the prices of other food items: it is anticipated that the cost of other food items, such as pepper, onions, and garlic, will also increase, which will further exacerbate the food crisis that is now occurring in Nigeria.
• Decrease in the purchasing power of citizens: The citizens’ purchasing power will be further reduced as a result of the increase in the costs of tomatoes and other food items, which will make it more difficult for them to obtain essential food items.
• An increase in the cost of living: The rise in the costs of food items will lead to an increase in the cost of living, which will make it difficult for citizens to afford the materials that are essential to their daily lives.

The Way Forward: Solutions To Bring Down The Price Of Tomatoes

It is necessary to take multiple steps to address the problem of fluctuating tomato prices.

These are some possible solutions to consider:

Enhanced Storage Facilities:

Investing in cold storage facilities and employing appropriate post-harvest management practices will help reduce the amount of tomatoes that go bad and increase their shelf life, which in turn can lead to more constant pricing throughout the year.

Improving Transportation Infrastructure:

The development of improved road networks and logistics systems has the potential to mitigate the expenses associated with transportation and guarantee a more seamless supply of tomatoes from fields to markets.

Providing Assistance to Local Production:

During the dry season, the government’s actions and investments in local tomato growing can assist in increasing domestic production and reducing reliance on imports.

Price stability may be achieved as a result of this mechanism.

Encouraging Direct Sales:

By facilitating direct sales channels between farmers and consumers, it is possible to circumvent the need for middlemen, which could result in cheaper pricing for tomatoes for consumers.

Tips for Buying Tomatoes During Price Fluctuations

Although the present costs of tomatoes may appear to be overwhelming, the following are some suggestions for customers who are budget-conscious:

• Consider Purchasing from Local Markets: If you want to avoid the middlemen and possibly receive better pricing, you should consider purchasing straight from local farmer’s markets.
• Purchase in Smaller amounts: If you are on a limited budget, it is best to purchase in smaller amounts to reduce the amount of tomato that goes bad.
• Examine the Available Options: Explore the possibility of using other similar products, such as tomato paste, puréed peppers, or even native vegetables, such as ewedu or ugu, which can impart a flavor profile comparable to that of the original recipe.:

Conclusion : Price Of Fresh Tomato Per Basket Per Kg In Nigeria (July 2024)

Fresh tomato prices in Nigeria have risen significantly in recent months, with a basket of tomatoes now costing up to N160,000 in some sections of Lagos and other cities and up to N120,000 in the northern regions.

Price increases are linked to various issues, including instability, expensive transportation as a result of fuel subsidy removal, and general inflation the country is experiencing.

The price increase has far-reaching consequences, including higher prices for other foods, a decline in citizens’ purchasing power, and an increase in the cost of living. The government must take immediate action to solve the situation and guarantee individuals have access to basic food goods at reasonable costs.