The price of crayfish has skyrocketed by 180 per cent in major markets in Lagos State, making many consumers resort to rationalising the popular seafood due to low purchasing power.
A paint bucket of crayfish sold for N4,000 and N5,000 in early 2024, now costs between N12,500 and N14,000.
Similarly, a measurement that once went for N40,000 now sells for N75,000 to N80,000.
A ‘Derica’ cup, formerly N1,000, now sells for N3,000 to N4,000.
Also, a basket of crayfish currently goes for between N260,000 and N350,000.
The traders and consumers who spoke to journalists in separate interviews on Sunday in Lagos expressed concerns over the price hike of the popular seafood staple.
The treasurer of Oyingbo Foodstuff Market Association, Lagos, Abigail Onu, said the high cost was because crayfish were currently out of season.
“Crayfish is scarce and expensive during the off-season, affecting both quantity and quality, with partially filled bags and reduced freshness.
“At the moment, a measurement of crayfish costs between N75,000 and N80,000, depending on the type. In contrast, when in season, that same measurement can drop to as low as N40,000.
“Dealers are struggling to meet demand. The majority of our dealers don’t even have crayfish to sell,” Ms Onu said.
She noted that the price hike began in February but was not new to the market.
“It is a trend that repeats every year; from June, the crayfish season begins, and buyers can expect better quality and significantly lower prices,” she said.
A crayfish seller at Oyingbo Market, Ugomma Maduekwe, attributed the development to the off-season and increased export demands.
“The export of crayfish is impacting local supplies, as many buyers now export in bulk to markets offering higher prices, reducing availability in domestic markets
“It means we have less for local consumers, and that’s affecting prices,” Ms Maduekwe said.
Another trader at the Alimosho Market, Idaya Mashika, highlighted poor storage conditions as a challenge for sellers.
“Crayfish spoils easily when not stored properly, especially in this kind of humid weather. If you lose a bag, that’s tens of thousands gone. We sell at higher prices to cover the risk and potential losses,” Ms Mashika said.
She added that traders were being cautious with supply because of spoilage.
“Most of us don’t stock too much anymore. We buy in smaller quantities, and that makes prices unstable,” she added.
A consumer, Adebanke Agbo, said she had to reduce the amount of crayfish she buys.
“I used to cook with crayfish in nearly every meal. Now, I measure it carefully. I still buy it because no seasoning cube can give that traditional taste that crayfish gives, but it’s getting harder to afford,” Ms Agbo said.
Another consumer, Oluyemisi Akewushola, said nothing can replace the taste you get from cooking with crayfish.
“I had to buy a derica of crayfish at the Oyingbo Market for N3,000 when I couldn’t afford to buy a small paint bucket that was going for N12,500.
“I bought it for N10,000 last month, now it’s N12,500. And I heard it might go up again. I can’t stop using it completely, so, I just buy less and make it stretch,” she said.
