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Current Garri Market Price In Nigeria
The garri market in Nigeria has seen significant fluctuations in 2024, with prices soaring to levels that have made this staple food increasingly unaffordable for many households. As of August 2024, the price of garri, which is derived from processed cassava tubers, varies significantly depending on the region, quality, and market dynamics.
In many parts of Nigeria, a 50kg bag of garri is currently priced between ₦22,000 and ₦26,000. However, in some areas like Jos, Plateau State, the price has escalated dramatically, reaching as high as ₦72,000 for a 100kg bag. This sharp increase has been attributed to several factors that have disrupted the balance of supply and demand in the garri market.
One of the primary reasons for the rising cost is the reduction in cassava production. The demand for cassava is not limited to garri alone; it is also used to produce other products like starch, chips, and flour. This competition for raw cassava has resulted in a significant drop in the volume available for garri production. According to estimates, the national demand for garri is around 1,000,000 tonnes annually, but the supply falls far short, with only about 250,000 tonnes available.
Additionally, the methods of garri production remain largely manual and labor-intensive. Despite efforts by institutions like the Federal Institute of Industrial Research Oshodi (FIIRO) and the International Institute of Tropical Agriculture (IITA) to introduce modern processing techniques, many garri producers continue to rely on outdated practices. This inefficiency in production contributes to the higher costs of garri, as producers struggle to keep up with demand.
Economic factors, including inflation, high transportation costs, and the devaluation of the naira, have also exacerbated the situation. These economic pressures have made it more expensive to produce and distribute garri, leading to higher prices in the market.
In summary, the current garri market in Nigeria reflects broader challenges within the agricultural and economic sectors. With prices at an all-time high, garri is no longer the affordable staple it once was, leaving many Nigerian households struggling to cope with the increased cost of this essential food item. As the situation continues to evolve, consumers and producers alike will need to adapt to the changing realities of the garri market.
