The Korinya market is experiencing significant price hikes, with the cost of essential commodities soaring in recent days.
Today, a bag of groundnut is being sold for an eye-watering ₦40,000 to ₦50,000, a dramatic increase from the ₦25,000 to ₦30,000 seen in the previous market.
This represents a staggering 100% jump in prices, leaving many buyers and traders reeling.
The price of garri has also seen a notable rise. A half bag of this staple now costs ₦50,000, compared to ₦45,000 in the last market session, marking over a 10% increase.
These sudden spikes are likely to impact the purchasing power of consumers and the profit margins of businesses.
Prospective businessmen and traders should take note of these developments as they plan their market activities.
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local