Naija247news reports that Lagos residents are enjoying a significant drop in tomato prices as the ongoing harvest season has led to a surplus of supply in markets across the state. The price crash has brought relief to households struggling with the high cost of living but raised concerns among farmers about potential losses.
Thank you for reading this post, don't forget to subscribe!Naija247news gathered that major markets, including Mile 12, Oyingbo, and Balogun, have been flooded with fresh tomatoes from farming hubs in the northern regions of Nigeria. The increased supply has caused a sharp decline in prices, with a basket of tomatoes that previously sold for ₦15,000 now going for as low as ₦6,000.
According to Naija247news, traders attribute the price drop to the seasonal glut triggered by the peak harvest period. Many farmers are rushing to sell their produce before it spoils, creating a competitive market that has forced prices down. The situation is further compounded by limited storage facilities and inadequate preservation technologies, which prevent farmers from storing surplus produce for later sale.
Naija247news understands that while consumers are benefitting from the reduced prices, farmers and wholesalers are facing financial challenges. Many farmers lament that they are unable to recoup their production costs, with some forced to sell their tomatoes at a loss. Wholesalers, on the other hand, are grappling with spoilage as they struggle to offload large quantities before the tomatoes perish.
Naija247news reports that the glut has reignited calls for government intervention to improve post-harvest management in the agricultural sector. Experts have urged authorities to invest in cold storage facilities, value-added processing, and efficient transportation networks to reduce wastage and stabilize prices.
According to Naija247news, some farmers’ associations are also advocating for the establishment of tomato-processing plants to convert excess produce into paste and other products, ensuring farmers have alternative revenue streams during periods of surplus.
Naija247news gathered that despite the challenges, many Lagos residents are taking full advantage of the lower prices, stocking up on fresh tomatoes and preparing homemade sauces in bulk. However, experts caution that prices are likely to rebound once the harvest season ends, urging consumers to plan accordingly.
This situation, Naija247news understands, highlights the need for long-term agricultural reforms to balance supply and demand, protect farmers’ livelihoods, and ensure price stability in Nigeria’s food markets.
