Comparing The Cost Of Food Items In The Market Between Pre-covid 19: The Effect Of Covid-19 on The Nigerian Economy

Hi friends,
Due to the cost of food items in Nigeria economy today, we can know longer get some food items stock in our homes today.but it's all depending, for instance we all know that Rice is a common and widely eaten food source across Nigeria today.not only in Nigeria but other African countries as well as Asia,it is a food source for over half of the human population in the world it is the third highest world production. Rice is the seed of the grass species oryza sativa (Asia Rice)or even less it is commonly oryza glaberrima (African Rice).in other words Rice can be Grown Anywhere but at certain conditions or environment either, there are factors such as rainfall environment the temperature and also the soil texture is very important. Rice has cultural roles in many countries of the world, it belongs to the carbohydrate food class and it is a major source of energy for every 100grams of rice it's a 130 calories.it also contains substantial amounts of proteins, it can be prepared in different ways most commonly is by boiling.

https://www.betaprices.com/50kg-bag-of-rice-in-nigeria

in 2020 the Federal Government of Nigeria closed Nigerian border in other to stop the influx of foreign rice into the country which it banned this was made to encourage local production and improve on their local farming although the move disrupted lots of other business and was not well planned, nevertheless Nigeria aim is to produce Rice that will be suitable for it's population and probably join heavy farms output such as china and India. The Average price of a 50kg bag of local rice in Nigeria is 20,000 while the Average price of 50kg bag of foreign rice in Nigeria is 27,000,A cup of rice in the market goes for 100 to 150 depending on whether it is local or foreign.

https://www.thecable.ng/covid-19-foodstuff-prices-almost-double-q1-2020/amp A derica of rice will go cost between 500 to 600 According to the Federal Government decision to close the country land borders increased the cost of legal trade which translated to high price of staple commodities As a result, it's said more Nigerians switched to locally made rice for their meals. In our world today there are so many things that is happening today that we can't even predict what will happen in the next few hours or days and there are so many people who can't even afford a 1 square meal per day because of the rate at which food items are so expensive not only rice but other food items like beans ,garri onion,yam and even snacks that we consume everyday for instance biscuits and drinks though there are different kinds of biscuits the ones sold for N10 is N20 if we go to the market with a particular amount of money we end up buying few food items because of the Covid-19 As at March 2020, the price of Nigerian rice in most market gad risen to the pre-August 2019 levels of imported rice but crucially there has not been a commensurate increase in the quality of the Nigerian rice between August 2016 and March 2020 the price of a 50kg bag of local rice rose from 11,500 to 18,500 while a bag of imported rice increased from 18,500 to 27,500 in the tail of the Covid-19 pandemic induced panic buying by the Nigerian consumers on garri such as a 100 percent increase increase in price was recorded in Anambra 122 percent in ibadan and 114 percent increase in Port Harcourt. since the move to limit the influx of foreign rice in Nigeria, various Farmers are now going into rice farming making the cost of each bag in the market to re reasonably come to the point of equilibrium. Some of these are sponsored by Government programs the average price of a 50kg of local rice is now 20,000 there are different sizes of rice b sold in the market the most commonly bought is the 50kg bag and can be filled with 12 or 13 paint buckets of rice for also 50kg rice it will require 25 to 35 mudu to fill up a bag of rice now most Nigerians prefer foreign rice due to the fine processing of the Rice and was one of the mostly imported goods in the country till the government clamp down.and as the name implies some of these rice brands are available only in certain regions of the country and it requires an online contact or traveling there to get certain rice product, inflation in prices of rice is recently attributed to worsening crisis in the country prices are affected by many variables and there might be steep increase in above prices in the future. Food price inflation is not likely to improve anytime soon if the predicament facing part of the country remain unresolved.this will keep going even if economic activity gradually picks up with the easing of lockdown restrictions, insurgency conflict and displacement had been topical for six years in northern Nigeria Displacement of farming communities led to a decline in the cultivation of arable farm land, resulting in lower yield per hectare of agricultural land.

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The effect On cost of food items Covid-19 pandemic

• the closing of businesses
• restraints to travel
• salary cuts
• restraints to church and other events.etc
  Covid-19 pandemic has a fire effect on global economics. Rising infection rates have led to social distancing directives persistent lockdown and a looming high unemployment situation economic activity, has shrunk dramatically and with it the food supply value chain globally. as at July 2020, one mudu of beans cost N 305.48 while 50kg of beans was N 12,750 the increase continued in July 2021, with the one mudu of beans costing N 900, while 50kg of beans had risen to N 45,000 between July 2020 to January 2021 the cost of a 1kg and onion rose from N 180.56 to N 411, while one bag of Onion climbed from 17,000 to 21,500 in July 2020 garri was N 247.62 while 50kg is now 11,500.https://punchng.com/beans-tomatoes-rice-record-253-123-51-price-hike/?amp

Conclusion:
The price of most food items in Nigeria is constantly changing and also most of the figures are reducing and increasing due to the market structure and other factors, the government in Nigeria tries to put more effort as to see that the production capacity of local producers meets up with the market and continually to more rice is a staple food source for most families in the world and everyday millions of people eat rice too other to Help give them energy for the days task, So many local food vendors offer rice as their main menu and also bags of rice to help their business. Thanks so much visiting my blog Take care and stay safe. 🥰