Rice Tax Has Landed – Here’s What to Buy Instead + 6 Prices Dropping

CTN Market Watch: Week 22 – Where to shop smart this week

Column summary intro:
Welcome to CTN Market Watch – your weekly companion for finding quality goods at reasonable prices across Nigeria. Each week, we break down current market trends, highlight the best spots to buy staple foods, vegetables, protein, and household items, and help you avoid price gouging. Plus: global price moves that affect your wallet. Here’s what’s happening in Week 22.

Why keep coming back to CTN?
Because we don’t just give prices — we tell you where to go, when to buy, and what’s coming next week. No other platform breaks down local and global market shifts this clearly, this fast, and this free. Bookmark this column.

Global market brief – how the world affects your shopping this week

· India’s rice export tax took effect June 1 – imported rice up 8–12% already. Local rice now better value.
· Wheat prices up another 4% – Russia and Ukraine both reporting poor yields. Flour and bread pain continues.
· Palm oil futures down 2% – Indonesia eased some restrictions. Local prices may pause but won’t drop much.
· Sugar prices up 6% – Thailand drought deepening. Stock up now.
· Crude oil at $88/barrel – slight dip but diesel still above ₦1,300/litre.

What this means for you:
Imported rice is now officially expensive. Switch to local rice (Ofada, Abakaliki) – it’s cheaper and healthier. Bread will hurt for months. Sugar is on a rocket – buy 2–3 months worth if you can.

Week 22 market snapshot (May 25 – May 31)

· Imported rice jumped ₦5,000–₦8,000 per 50kg bag this week. Local rice is now the smart choice.
· Bread hit ₦1,600–₦1,800 for 600g loaf in many cities.
· Tomatoes still dropping – good supply from Plateau and Taraba.
· Palm oil prices paused but remain high – no major drop expected.
· Beans up another 8% – cheapest now in North-Central only.

6 prices dropping this week (yes, really):

1. Tomatoes – down another 15%
2. Sweet potatoes – down 10%
3. Plantains – down 8% in South-South
4. Local rice (Ofada, Abakaliki) – stable while imported rises
5. Onions – still low, buy for storage
6. Fresh pepper – down 12% with tomato harvest

What to buy instead of expensive imported rice:

· Ofada rice (local brown rice) – ₦65,000–₦70,000 per 50kg – more filling, no polishing chemicals
· Abakaliki rice – ₦68,000–₦72,000 per 50kg – available in Enugu and Abuja
· Mama Gold (local parboiled) – ₦72,000–₦75,000 per 50kg – still cheaper than foreign

Best buys by region – what to pay (reasonable cost guide)

Southwest (Lagos, Ibadan, Abeokuta)

· Tomatoes (1 basket): ₦22,000–₦26,000 – Idi-Oro – best price in months
· Ewedu leaves (bunch): ₦250–₦350 – Oyingbo – cheap and plenty
· Imported rice (50kg): ₦85,000–₦90,000 – Daleko – up sharply, avoid
· Ofada rice (50kg): ₦65,000–₧70,000 – Mushin – better value
· Frozen chicken (1kg): ₦5,200–₦5,700 – Agege – still climbing
· Palm oil (1 litre): ₦4,000–₦4,400 – Mushin – paused but high
· Bread (600g sliced): ₦1,600–₦1,800 – everywhere – painful

Southeast (Enugu, Onitsha, Aba)

· Garri (white, 2kg sack): ₦2,500–₦2,900 – Ogbete – cassava shortage easing
· Crayfish (ground, small paint rubber): ₦1,500–₦1,800 – Ariaria – stable
· Oil bean seed (ukpaka, 1 cup): ₦1,200–₦1,400 – New Market – supply low
· Goat meat (1kg): ₦5,800–₦6,300 – Relief Market – now a luxury
· Abakaliki rice (50kg): ₦68,000–₦72,000 – Ogbete – best buy in the region
· Palm oil (1 litre): ₦4,100–₦4,600 – Ogbete – no relief

North (Kano, Kaduna, Abuja)

· Onions (1 big bag, 50kg): ₦85,000–₦92,000 – Kurmi – still low, buy now
· Sweet potatoes (1 heap): ₦900–₦1,100 – Dei-Dei – cheapest protein substitute
· Beans (oloyin, 1 mudu): ₦2,000–₦2,300 – Singa – up but still reasonable
· Groundnut oil (1 litre): ₦3,600–₦4,000 – Wuse – high
· Flour (50kg): ₦48,000–₦52,000 – Kurmi – will hit ₦60,000 soon
· Sugar (1kg): ₦1,700–₦2,000 – Kurmi – buy now

South-South (PH, Warri, Uyo)

· Fresh catfish (medium size, 1kg): ₦4,000–₦4,500 – Mile 1 Diobu – high
· Plantain (bunch, ripe): ₦3,200–₦3,700 – Iwofe road – down 8%, good news
· Palm oil (1 litre, native thick): ₦3,400–₦3,900 – Effurun – still best price nationally
· Smoked bonga fish (big piece): ₦650–₦800 – Uyo main – up slightly
· Local rice (50kg): ₦67,000–₦71,000 – Uyo – switch from imported

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Price trend analysis for Week 22 – what’s up, what’s down

· Imported rice up 12% – avoid completely if you can.
· Local rice stable – best value protein+carb combo now.
· Tomatoes down another 15% – preserve, stew, dry, freeze.
· Bread up 10% – no end in sight.
· Eggs (1 crate): ₦4,200–₦4,600 – feed costs still high.
· Sugar up 8% – global drought effect arriving.
· Palm oil paused – but still 40% higher than three months ago.

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Shopping tip of the week
Switch to Ofada rice. Yes, it takes longer to wash and cook. Yes, it has a different taste. But at ₦65,000–₦70,000 per 50kg versus ₦85,000+ for imported, you save ₦15,000–₦20,000 per bag. One bag lasts a family of 5 about 6–8 weeks. That’s ₦1,000–₦1,500 saved every week. Soak for 2 hours before cooking to reduce cooking time and gas cost.