Why is West African jollof so expensive?
Latest research by SBM Intelligence shows that the average cost of cooking a pot of jollof rice in Nigeria, rose by 9.7 per cent, while in Ghana's Accra and Kumasi the price peaked at nearly 300 cedis in the first quarter of this year, reflecting the impact of inflation on food prices in these countries. Kelechi Ogu, Research Analyst at SBM Intelligence, joins CNBC Africa to unpack why the cooking price of West Africa's most sought-after meal is fast eroding households.
Tue, 25 Apr 2023 12:36:40 GMT
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AI Generated Summary
- The average cost of cooking jollof rice in Nigeria rose by 9.7 percent in the first quarter of this year, reflecting the impact of inflation on food prices in the country.
- In Ghana's cities of Accra and Kumasi, the price of preparing jollof rice reached nearly 300 cedis, highlighting the financial strain on households in the region.
- As inflation continues to put pressure on food prices, policymakers and consumers need to understand the factors driving the surge in jollof rice costs and its implications for affordability.
West African jollof rice has long been a staple dish in many households, known for its rich flavors and vibrant colors. However, recent research by SBM Intelligence has revealed a concerning trend - the cost of cooking a pot of jollof rice has been on the rise in countries such as Nigeria and Ghana. In the first quarter of this year, the average cost of preparing jollof rice in Nigeria increased by 9.7 percent, while in Ghana's cities of Accra and Kumasi, the price peaked at nearly 300 cedis. This surge in prices has raised questions about the affordability of this beloved dish and its implications for households in the region. Kelechi Ogu, a Research Analyst at SBM Intelligence, recently sat down with CNBC Africa to shed light on the factors driving up the cost of West African jollof and how it is impacting families across the region. As inflation continues to put pressure on food prices, understanding the dynamics behind the rising cost of jollof rice is crucial for policymakers and consumers alike.
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