Why Oyo, the 2nd highest Inflation state in Nigeria

Ibadan the heart of Oyo must have endured a lot, Let's make a quick reminder we are an Agric eCommerce company in Ibadan and have been in part of this semi macroeconomy🤔

What we experienced in the figure.

Is our economic problem not just starting? 🤔

We talked about the new reality we are experiencing in prices last week CLICK HERE TO SEE IT when we talked about the price increase or better put inflation will lead to devaluation of our currency, which already happen this week

AGRIC PRODUCE OVERVIEW

Some can ask why all this English, just tell us price and that is all. No, this is design main for our retailer's customer and you must know how our target audience is Ibadan people. Understanding the macroeconomy we guide your trade

When this devaluation has occurred some things will be more expensive, it should because the IE window has been cushioned this to this extent, not a true reflection of our currency value, don’t forget the poultry association wants to import maize. You can see this really matters

Let us move to the subject of the day. Ibadan, Oyo. The figure can out this last week we are behind Kogi, and have 20.17% inflation, wao. consider this doesn’t include that Shasha is the hotspot of Tomato, Pepper, and Onions. Been destroyed makes us ask if our economic problem not just starting?

Product update;

We have been talking about the Oyo crisis on the state of the product, January food inflation rose beyond prediction to 20.57%. Though Beans is relatively stable Oloyin ₦24,500, Drum ₦43,500. Rice came down a bit to ₦22,000 this week.
Palm Oil like we said last week is getting more available and like a rule of thumb in trade, you buy in the dip and sell in the high. For so many looking for a high, and have hurdle no more high for palm oil as production increase begin March. So flood the Palm Oil distribution

Other produce; Garri reaching a new height of ₦31,000 while cassava ton is now available for ₦55,000. We are doing this to cushion the scarcity so many garri processors are currently facing

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