Palm Oil Finally Drops – Plus Post-Sallah Price Slumps You Can Bank On

CTN Market Watch: Week 24 – 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 24.

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

· Palm oil futures down 6% – Indonesia export flood continues. Local palm oil finally dropping as predicted.
· Wheat prices down another 2% – Russian rains improved. Flour may ease slightly by Week 26.
· Rice prices flat – India tax fully absorbed. Imported vs local gap remains wide.
· Sugar prices up 3% – Brazil cane fire damage. Local sugar heading higher.
· Crude oil at $84/barrel – diesel now ₦1,150–₦1,250 in some areas. Small relief.

What this means for you:
Palm oil is now dropping – buy small quantities weekly. Post-Sallah means ram and frozen meat are on sale. Sugar is the new worry – buy ahead of future increases.

Week 24 market snapshot (June 8 – June 14)

· Palm oil down 5–8% in Lagos and South-South – first real drop in three months.
· Tomatoes still low but harvest ending – prices may rise again by Week 26.
· Local rice demand surging – more millers active, prices stable for now.
· Ram prices crashed after Sallah – best time to buy cheap meat.
· Beans finally paused – no increase this week.

6 prices dropping this week (post-holiday slump):

1. Palm oil – down 8% in Warri and Port Harcourt
2. Ram and goat meat – down 25–35% from Sallah peak
3. Sweet potatoes – down another 10%
4. Fresh pepper – down 10%
5. Cabbage – down 15% (Plateau harvest peak)
6. Frozen chicken – down 7% (post-Sallah demand drop + diesel relief)

Best post-Sallah buys right now:

· Ram meat (fresh, 1kg): ₦3,500–₦4,500 – down from ₦6,000+ during Sallah
· Frozen chicken (1kg): ₦4,800–₦5,300 – best price in 2 months
· Local rice – still stable, stock up
· Onions – still low, buy for storage

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

Southwest (Lagos, Ibadan, Abeokuta)

· Tomatoes (1 basket): ₦16,000–₦20,000 – Idi-Oro – last chance at this price
· Ofada rice (50kg): ₦62,000–₦66,000 – Mushin – still dropping slightly
· Frozen chicken (1kg): ₦4,800–₦5,300 – Agege – down 7%, best time to stock
· Palm oil (1 litre): ₦3,600–₦4,000 – Mushin – finally down
· Bread (600g sliced): ₦1,600–₦1,850 – flat this week
· Fresh ram meat (1kg): ₦3,800–₦4,800 – Agege abattoir – post-Sallah bargain
· Fresh pepper (paint rubber): ₦3,200–₦4,000 – Mile 12 – cheap now

Southeast (Enugu, Onitsha, Aba)

· Garri (white, 2kg sack): ₦2,200–₦2,600 – Ogbete – down from cassava harvest
· Abakaliki rice (50kg): ₦65,000–₦70,000 – Ogbete – stable, buy now
· Palm oil (1 litre): ₦3,800–₦4,300 – Ogbete – down 5%
· Goat meat (1kg): ₦4,500–₦5,000 – Relief Market – down 30% from Sallah
· Frozen chicken (1kg): ₦5,000–₦5,400 – Ogbete cold rooms – cheaper now
· Oil bean seed (ukpaka, 1 cup): ₦1,200–₦1,500 – New Market – stable
· Plantain (bunch): ₦2,800–₦3,300 – Ogbete – down again

North (Kano, Kaduna, Abuja)

· Onions (1 big bag, 50kg): ₦75,000–₦82,000 – Kurmi – lowest of the year
· Sweet potatoes (1 heap): ₦700–₦900 – Dei-Dei – cheapest food right now
· Beans (oloyin, 1 mudu): ₦2,200–₦2,500 – Singa – paused
· Ram meat (1kg): ₦3,200–₦4,000 – Kurmi abattoir – cheapest meat nationwide now
· Sugar (1kg): ₦1,900–₦2,200 – Kurmi – up again, buy now
· Flour (50kg): ₦49,000–₦53,000 – Kurmi – slight drop
· Groundnut oil (1 litre): ₦3,600–₦4,000 – Wuse – stable

South-South (PH, Warri, Uyo)

· Palm oil (1 litre, native thick): ₦3,200–₦3,600 – Effurun – biggest drop, best price
· Fresh catfish (medium, 1kg): ₦4,000–₦4,500 – Mile 1 Diobu – down 5%
· Plantain (bunch, ripe): ₦2,800–₦3,200 – Iwofe road – down again
· Smoked bonga fish (big piece): ₦600–₦750 – Uyo main – stable
· Local rice (50kg): ₦64,000–₦68,000 – Uyo – cheapest in South
· Frozen chicken (1kg): ₦4,900–₦5,300 – Warri cold rooms – post-Sallah dip
· Fresh ram meat (1kg): ₦3,500–₦4,500 – Mile 3 PH – stock up now

Price trend analysis for Week 24 – what’s up, what’s down

· Palm oil down 8% – first drop in 12 weeks. Buy small, not bulk.
· Ram/goat meat down 30% – post-Sallah crash. Best meat bargain of the year.
· Tomatoes still down 15% from peak – but harvest ending. Buy and freeze stew.
· Frozen chicken down 7% – diesel relief + post-holiday demand drop.
· Eggs (1 crate): ₦4,000–₦4,400 – down 5% from feed relief.
· Sugar up 5% – global crop concerns. Stock up now.
· Local rice stable – still best value.
· Bread flat – first week with no increase in two months.

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Shopping tip of the week
Buy ram meat now. After Sallah, prices crash because butchers need to clear unsold stock. A kilogram of ram meat that cost ₦6,500 on Sallah day now sells for ₦3,500–₦4,500. Buy in bulk, portion into freezer bags, and freeze. You get high-quality protein for 30–40% less than normal prices. This post-holiday window lasts only 7–10 days – act fast.