Prices of Milk And Cocoa Beverage Refill Packs Spike Around Lagos

Prices of refill packs for milk and cocoa beverages spiked in the last two weeks according to several market reports.According to data gathered from various markets the price of Dano and Three Crowns refill now sell for N800 each compared to N700 and N650 respectively two weeks ago. These products both went for N600 and N700 respectively in September 2016. We also observed price increases for Loya refill (7%) and Coast refill (8%) with both now selling for N750 and N700 respectively.

Milo, Bournvita, Ovaltine and Nescafe also recorded spies of about between 6%-7% in the period under review further reducing the purchasing power of most Nigerians. Most Nigerians rely on these beverages for their breakfast and will either have to reduce the amount of usage or chip in further at their disposable income to afford them.