Prices of commodities in
and around Port Harcourt markets are gradually returning to normal as they were before the Christmas and new year festivities in Port Harcourt.
The Tide’s visit to markets in Port Harcourt revealed that most of the commodities whose prices went up during the Christmas period due to high demand have now come down.
It was discovered that the price of a bag of (50kg) rice that was sold for between N14,000 and N14,500 has now been reduced to N12,000 and N12,500.
Also, the cost of old-layer chicken that was sold between N1,500 and N1,600 has now come down to N1,300, while the price of a kilograme of frozen chicken that was sold for N850 has come down to between N800 now N700.
The same reduction could be said of other commodities like vegetable oil that rose from N1,350 to N1,500, has come down to N1,350, whereas various sizes of Garbage that received high level of patronage, has equally reduced.
Meanwhile, some traders in the market have attributed the reduction in prices of these commodities to low level of sales they are experiencing currently, as buyers are no longer calling at the market for purchase, as was the case during the Christmas and new year sales.
One of the traders, Mrs Faith Elenga who spoke on the issue, explained that there is a slow turn-around in business currently as she barely makes any sales for the day.
Elenga who deals on rice and other food stuff lamented that what she sells in a day now is not up to 20 per cent of her daily sales during the Christmas time, inspite of the reduction in prices.
For Mr Frank, who trades on condiments and seasonings among others, the market is fairly good, even though there is no more rush as they witnessed during the Christmas period. He opined that his sales is almost at equilibrium, as few customers still patronize him.