How To Determine The Price of Plantain in Market

Factors that affect the price of Plantain in Market

These factors may either increase the price of Plantain in the market or decrease it. These are :

1. The sizes of your plantain. (Big or Small sizes)

2. The season you harvest your Plantain

3. The market you choose to sell your Plantain

4. Inflation in the country

On different occasions I have explained all these factors before, but people are keep asking for it later, that is why I will need to explain a bit on this page.

1. The size of your plantain took a lot , This will determine the amount you will sell your plantain in market. The biggest size and full, if I say full, that mean those who have 20-30 fingers fruits. This is also call No 1. Most buyer go for this kind of plantain. They choose to buy it at any amount you call it.

For smaller sizes, there are some buyers who can't afford to buy big bunches, they go for smaller or medium sizes. The price for these will be determine by market force. How many numbers of trucks come to market to sell and buyers capacity..Demand and supply will determine.

This is where we need efforts of ministry of commence and industry to wake up from there slumber, they should introduce weight scale method for us. So that there will be win-wun situation like fish and other frozen products.

2. Season.

This another major factor, this is because we have glutting period and scarcity period of plantain. This is not only peculiar to plantain alone. Also on other crops too.

During glutting period, majority of farmers on cultivated on upland harvest there produce toward any of the year. This will lead to massive produce of plantain. Damand and supply will set in, where products is more than demand, automatically the price will fall down in the market.

This is between late October till early February of everything year. If you notice, you will see that around this period, people will be eating roasted plantain. When it March till October of every year the demand for Plantiain will be minimal this because only those farmers who have farm on swamp area will be have plantain this period and only small portion of upland. This price of plantain will be on higher side. Only few people can consum or eating roasted plantain around this period because the price is on higher side. The peak of this is May/June. People will rather go for corn to eat than Plantain or roasted plantain.

The only factor that may affect this is level of rainfall. Like last year in southern part of Nigeria rainfall was poor between July till October. This really affect farm produce which affect the harvest from that region. Till the price of foods community in on higher side.

3. Market

This is another factor that affect the price you sell your Plantain. When you are planning your farm you will need to think of market where you intend to sell your products. This market must not be too far from your farm because of transport fare.

Because you choose market where you sell your and you need to consider those people that are patronizing the market, if they have financial muscle to buy your goods. For example if you choose to sell your goods at Mile 12 in Lagos and another farmer choose to sell his or her market at Ajah market in the same Lagos. They will sell the same product at different price. People reside in Lekki, VGC and Ajah will have financial muscle to buy it any price you choose to sell it while people in Mile 12 will keep dragging the price with you.

In short both of them will end up sell at different price. This is also applicable to other local market too depend on people patronizing them.

Another example is Bidija market in Ibadan, you can't compare the price you sell your products with Mushin market in Lagos.

4. Inflation In country

There is general inflation in country as a result of poor management of economy system from government. The price of all commidiity has been sky rocket, where plantain is not left out. Ever since 2010 I started plantain farming business, no matter the sizes or how big it may be, a dozen have never sold for 50k. This can be observe this year. To my surprise I sold a dozen 50k at Mile 12 market. You too can findout today. Visit Mile 12 market at Owode-Elede along ikorodu road Lagos. Be there very early hour around 6-7am ask for how much they sold No 1 dozen. You will be surprised to hear the price they will tell you.

I think this as a result of inflation in our economy also due to lack or rainfall by middle of last year which force those who has upland farm out of market. I am very sure that these and some of this may lead to high cost of farm produce....