Red pepper (ata rodo) is a key ingredient in Nigerian and African recipes and delicacies. Its price has spiked by 17% to N7,000 per basket. The price of the other complement, tomatoes, has also jumped to N12,000 per basket.
There are recent reports of scarcity of both peppers and tomatoes. Some have attributed this price hike and shortages to the Ramadan fasting demand. We expect a normalisation of prices after the season.
The attached slides address these and other issues in the domestic and global commodity markets.
Enjoy your read!