In March, a packet of the standard size was sold for N300, while a packet of the Super Pack and Hungry Man was sold for N500 and N700, respectively.
The demand for Indomie instant noodles has increased due to a drop in the price.
The demand dropped tremendously, following an increase in the price.
Some residents of the Federal Capital Territory (FCT), who spoke to journalists in Abuja on Sunday, attributed the drop in price to the low demand caused by the incessant increase witnessed over a short period.
In a market survey conducted by NAN on March 3, a carton of Indomie standard pack, which is the smallest size, was being sold for between N10,500 and N11,500. However, a carton of that same size is presently sold for between N7,400 and N8,000.
Also in March, a carton of the Super Pack was sold for between N17,800 and N18,700, and a carton of Hungry Man size was sold for between N16,800 and N17,500.
Presently, a carton of the Super Pack is sold for between N12,000 and N13,000, while a carton of the Hungry Man size is sold for between N11,500 and N12,500.
Also, in March, a packet of the standard size was sold for N300, while a packet of the Super Pack and Hungry Man was sold for N500 and N700, respectively.
Presently, a packet of the standard packs is sold for N250, while a packet of the Super Pack and Hungry Man is sold for N400 and N600, respectively.
However, in supermarkets, the prices are slightly higher for the single packets and the cartons.
A wholesaler in Garki Market, Zainab Ali, confirmed that the price of indomie had dropped significantly, attributing the drop in price to the low demand witnessed for some months.
“People from the company even came to the market to find out why people were not buying, and we told them it was too expensive.
“ So, I believe they went back to their drawing board and had no choice but to reduce the price,” she said.
Chinelo Nwosu, a public servant, said she stopped buying indomie a few months ago because of the high cost.
Ms Nwosu, however, said she was able to buy a small carton after she noticed the prices had dropped recently.
Similarly, Ola Fakeye, an electrician, attributed the drop in the price of indomie to the low demand.
“ It is a good thing the price has reduced; some people will start to buy again,” he added.
Helen Etim, a businesswoman, commended the manufacturers of Indomie for responding to the drop in demand by reviewing their prices downward.
Ms Etim, however, said many people could still not afford to buy indomie like they used to in the past.
“We pray things get better in Nigeria, many people cannot afford to eat a meal a day. Indomie, which you would say is cheap fast food, is no longer affordable,” she said.
Mohammed Hassan, a tea seller popularly known as “Mai shayi” in Wuse Zone 6, said patronage had increased compared to the last two months.
“More people are coming to buy, though some are still complaining that it is still expensive, so they buy smaller quantities, and some buy without eggs,” he said.
(NAN)
