Beans Drum Price Moves Higher
The mean price of Beans Drum sold by the Derica increased by 2.3% in Lagos during the week of July 24, according to the FoodPrices weekly market data.
The average price rose from ₦967 on July 17 to ₦989 on July 24. This represents a ₦22 increase in the mean price across the nine markets included in the survey.
The increase placed Beans Drum Derica among the products that recorded notable upward movements during the week.
Agege Records The Cheapest Price
The market survey showed differences in the price of Beans Drum across Lagos.
Agege Market recorded the cheapest price at ₦800 per Derica, while Ile-Epo Market recorded the highest price at ₦1,200.
The ₦400 difference between the two markets means that shoppers purchasing the same quantity may face different costs depending on their chosen market.
Beans Prices Move In Different Directions
Not every tracked beans variety moved in the same direction during the reporting week.
While Beans Drum by the Derica increased by 2.3%, Beans Oloyin by the Derica declined by 2.1%, moving from ₦1,078 to ₦1,056.
Beans Drum sold by the Paint also recorded a decline of 1.5%, with its mean price moving from ₦4,322 to ₦4,256.
The different movements highlight why the FoodPrices tracker measures individual food varieties and units separately.
Market Averages Provide A Wider Picture
The ₦989 figure represents the mean price across nine surveyed Lagos markets. It should not be understood as the exact price charged by every seller.
The gap between Agege and Ile-Epo shows that market-specific prices can differ considerably from the overall Lagos mean.
The weekly data is sourced from the Ministry of Agriculture and Food Systems market survey.
Consumers and businesses can continue monitoring food-price changes through https://foodprices.ng/real-time-prices.