Residents of Imo State are in for another round of chaotic season of price spikes in commodities as the Yuletide celebrations approaches in full gear.
Imoflash correspondents today went to Douglas market, Owerri, one of the major Markets in the state to find out the disparities in prices as the Christmas rush nears.
Most of the commodities have started sky rocketing, reasons according to the traders varies from; Increment in prices on the part of the Wholesalers, to every day raising cost of logistics, to instability in the FX market that affects Dollars, to the Covid 19 pandemic which have restricted importers from travelling to China to personally buy goods, rather, they now send money to middle men to help out in the purchase of goods, to the insecurity in the country, to the chief of all reasons, the Christmas Rush.
Imoflash team spoke to some traders who compared the prices before and the prices obtainable now, they warned that as the Yuletide approaches by the day, prices are expected to increase the more.
Mrs Comfort Nwankwo, popularly known as Nwanyi Owerri, while speaking to our team said that a bail of Children 'mix- mix' clothes that was sold for #90,000 before now goes for #125k,000 while another grade of bail that was selling for #120,000 now goes for #180,000. She complained of low patronage this season blaming it on the situation of the present day economic reality.
Mr Obioma Nnadi blamed the instability in the FX market for the increment in prices. Mr Nnadi who deals on female shoes told us that a pair of shoes that was sold for #3,500 now sells for #4,500. He complained of low patronage too.
When we spoke to Mr Goodluck Okoro, a tomatoes dealer, he said that the price of the commodity he sells have crashed.
He narrated that a basket of tomatoes was between #18,000 to #21,000, but, have reduced to between #13,500 to #15,000now.
For Pepper, Mr Okoro said that the prices are relatively the same,. a bag of pepper was and is between #12,500 to #13,500. Onions price cannot be said to be in the stagnant mood like pepper as it increased from #45,000 to #58,000.
Mrs Stella Mbaka who reluctantly spoke to us said that the prices of garden eggs are very unstable, she noted that the price depends on the time of the day.
"You can buy a bag #10,000 this morning and go back in the evening and buy for #6000, so the price of both white and green garden eggs are not stable". she said.
Solomon Iheme, a cosmetics seller noted that the patronage hasn't been bad, considering the fact that everyone wants to look good for the season. He took us on a ride on the before and current prices. All what he showed us increased.
As for the most stable food in the country, Rice, we gathered that the prices are almost the same for both local and foreign ones.
Don B enterprises that deals mainly on Vegetable oil told the team that prices are rumored to increase by next week, meanwhile, a 25Litres of Kings oil that was selling for #26,000 now sells for #30,000, 5 liters was #5200 and now is #6500.
For tin Tomatoes, it is the same story of price increment, same with spices and crayfish.
It is expected that as the day breaks towards the Yuletide season, prices will sky rocket more.
We also noticed that some marketers are hoarding commodities with the aim of selling with more profits as the birth of Christ approaches and into the new year.
