The National Onion Producers, Processors and Marketers Association of Nigeria has predicted a slight increase in onion prices during the upcoming festive season due to rising demand. According to the association’s Kaduna State Secretary, Mr. Amir Adamu, the current price of onions varies by state, with old onions selling for around 50,000 to 60,000 per bag in Kaduna, while fresh onions from Sokoto sell for 80,000 to 100,000 per bag.
The price disparity is attributed to the high demand for the Sokoto variety and its current availability. Adamu noted that other states, such as Kebbi, are yet to harvest their onions, which may lead to further price increases. Historically, a bag of old onions sold for between 30,000 and 40,000 up north, but the current high demand has driven prices up.
As the Christmas celebration approaches, onion prices may further increase due to the rising demand for the produce. Currently, a bag of onions sells for between 100,000 and 130,000, compared to the previous price range of 70,000 to 100,000. Adamu stated that prices may drop from January next year when onions from Kebbi State are ready for harvest, but the possibility of a significant price drop is low.
The onion market is subject to fluctuations in demand and supply, and the current trend is expected to continue until the new harvest. The National Onion Producers, Processors and Marketers Association of Nigeria’s prediction highlights the need for stakeholders to monitor the market and adjust their strategies accordingly. As the demand for onions remains high, especially during the festive season, consumers can expect to pay a premium for the produce.
The onion industry is a significant sector in Nigeria’s economy, and fluctuations in prices can have a ripple effect on the market. The association’s prediction serves as a reminder of the importance of understanding the dynamics of the onion market and the factors that influence prices. As the industry looks to the future, stakeholders will be closely watching the market trends and adjusting their strategies to meet the changing demands of consumers.