Palm oil price remains stable in Enugu amid lockdown

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Close up of palm oil seeds, selective focus.

The price of palm oil and other foodstuffs in Enugu metropolis following the lockdown against coronavirus has remained stable.

A survey conducted round markets by reporters in some neighborhoods in Enugu metropolis on Monday, revealed that the price of palm oil had not gone up in spite of the pandemic.

Some palm oil dealers who spoke with reporters, ascribed the price stability to massive local production by rural dwellers. They also applauded the Nigerian government for providing various forms of agro-based supports to hundreds of farmers across the nation.

The dealers also said that the boundary closure following the spread of coronavirus had triggered availability and price stability of the oil.

Survey reports also shows that 70cl bottle of palm oil remains between N300 and N350 while 25 litres container is still sold for N12,000.

The survey also reveals that price of 20 litres of the product ranges between N9,000 and N9,500.

Mrs Cathrine Nzekwe, a palm oil dealer at abakpa nike market, said that “the price of palm oil has not witnessed any rise in the market since the lockdown commenced. She also commended the efforts of rural farmers across the country while expressing her satisfaction on the precautionary measures being taken by the government towards covid-19 outbreak.”

“The massive production of palm oil in Enugu and the boundary closure have continued to make palm oil available even as it is difficult for dealers from other states to come into Enugu and buy the product due to the inter state lockdown,” Cathrine said.

At Mayor Market, another dealer, Mrs Eunice Agbo, said that no significant change in palm oil price had been experienced in both the rural areas and the urban centres.

“As we speak, a 25-litre keg is sold for N12,000 or N12,500 in the urban market; same quantity is sold at N10,000 in the rural markets. This is insignificant,” Agbo said.

Also speaking with reporters was, Mrs Oguguor Madu, a dealer at Garki Market, described the stability in palm oil prices as a good omen.

Madu called on the government to support producers and dealers with modern preservation techniques to ensure safe storage of the product and stability in its price after the lockdown period.

A Buyer at Mayor Market, Mrs Evelyn Nnubia, said she had been buying palm oil in Enugu metropolis at the same price before and during the lockdown.

“I am surprised that the price of palm oil did not increase as other foodstuffs in all the markets”.

She also advised food sellers in the country and across the globe to emulate and not hike the prices of food at this period of lockdown.