The price of garri has crashed by about 37.5 percent in most markets in Lagos.
A survey conducted at Oyingbo, Iddo, Ikosi, Mile 12 and Ikorodu markets revealed that a paint measurement of the food item, which sold for N400 for a greater part of 2018, now costs N250, according to the News Agency of Nigeria.
The traders attributed the price drop to increased supply and involvement of more people in cassava cultivation and garri production.
Monisola Adebiyi, a garri seller at Ikosi market, said in dry season, the price of garri usually increases due to seasonal effects that often lead to scarcity.
“Cassava farming increased tremendously in various parts of the country, some families even use their backyard to cultivate it and they bring the excess to market for sale, “ she stated.
“I guess this renewed interest in garri production was as a result of the price of a paint measurement of garri that increased to about N1, 200 in 2017 and became unaffordable by many Nigerians.
“Most people see it as a worthwhile venture and invested massively in it since then, and now the market is oversaturated with the commodity. I foresee further price reduction,” she said.
Another seller at Ikorodu market, Selimo Jobele, said the reduction in the price of the product would save many Nigerians from the discomfort of hunger, as purchasing power of the consumers had been on a decline.
