Lagos markets flooded with tomatoes as prices drop sharply amid seasonal oversupply

NAIRAMETRICS

The price of tomatoes in Lagos and other parts of Nigeria has significantly dropped due to a glut caused by the ongoing harvest season.

Farmers and traders have attributed the price crash to the surplus supply, which occurs annually between January and March.

A tomato glut refers to a situation where an excess harvest of tomatoes leads to a price drop.

According to reports by the News Agency of Nigeria, the price of a 50kg basket of tomatoes now sells for as low as N10,000 to N12,000, depending on the species. In the northern part of the country, a 25kg plastic crate is priced between N6,000 and N7,000.

In Lagos, the price of a big basket of tomatoes has fallen to N13,000–N15,000, compared to the N140,000–N150,000 price range recorded in May 2024. This represents a decrease of approximately 90% over an eight-month period.