Urban Retail Price Tracker - Strong Demand Push Commodity Prices Up


Wednesday, April 04, 2018 /01:28 PM/ARM Research 

Our Urban Retail Price Tracker—the PURP index—recorded an increase of 0.66% MoM to 104.6 pts in the month of March (vs -2.4% MoM in February). Prices were broadly higher across all segments. From our findings, we observed retailers took advantage of higher consumption associated with the Easter festival to increase prices across our coverage spaces. Similar to February, sales volumes climbed higher across board due to the festive period.

The brewery sector reversed its downward trend in March with prices increasing 1.18% MoM. Amongst products within the segment, Trophy 5.37% witnessed the largest increase in price. Likewise, prices of premium brands under our coverage expanded albeit modestly. Feedback from retailers revealed a higher volume during the month – the highest this year.

The consumer sector saw mixed retail price changes with an overall expansion of 0.21% MoM in March. Feedback from retailers revealed volumes were largely flat in the month. Notably, Closeup 2.0% MoM witnessed the largest increase in price.

The commodities basket increased 0.67% MoM in March. Despite the downward trend in prices of palm oil -2.4% MoM and vegetable oil -1.45% MoM, higher price of rice 5.35% MoM saw the overall commodity basket expand during the month. Feedback from retailers linked the increase in price to lower supply (majorly imported rice) in the market and high demand ahead of the Easter celebration.

The cement sector sustained its price increase for the second consecutive month with prices up 0.88% MoM. Our findings also revealed a lower margin (Feb – 13%, Mar – 12%) for retailers in March.

Prices in the oil & gas sector expanded moderately by 0.04% MoM in March. In the review period, prices of lubricants expanded 1% MoM while cooking gas -2.1% MoM sustained its downward trend.

Proshare Nigeria Pvt. Ltd.

Download Full Report

Proshare Nigeria Pvt. Ltd.

Related News

  1. Commodities Markets Diverged From Stock Markets and Inched Upwards
  2. Domestic Commodity Prices Such as Rice (10%) Have Increased In The Days Leading Up To Easter
  3. Nigeria is the Largest Producer of Yam in the World, With an Annual Production of 44.1 MT
  4. Cocoa Prices Down Slightly by 0.04% to $2,557 per MT
  5. Nigeria Produces 250,000 Tonnes Of Coconut Annually and is Ranked 18th in the World
  6. Nigeria Aggregate Demand for Rice In Excess Of 6mn Tonnes
  7. Nigeria Produces 3.93MT of Sweet Potato; The Largest Producer in SSA
  8. Kebbi State is Set to Produce 2.5mmt of Rice in 2018
  9. Nigeria is The World’s Third Largest Producer of Gum-Arabic
  10. Cocoa is Nigeria’s Fourth Largest Source of Foreign Exchange
  11. Nigeria’s Wheat Import is Estimated at $2bn
  12. 5 Record Breaking Gemstones Even Billionaires Can''t Buy
  13. Cocoa Prices Above $2000 per mt; Good for Exporters
  14. Nigeria Currently Produces 990,000tons of Palm Oil
Related News