The Federal Competition and Consumer Protection Commission (FCCPC) visited markets in Osun on Friday on a fact-finding mission to ascertain factors responsible for the hike in food prices.

FCCPC officials visited Olufi Market in Ayedaade Local Government and Ifon Market in Orolu Local Government.

The FCCPC met with market leaders and traders in the two markets it visited to find out the reasons for the daily increase in food prices.

Janet Odo, FCCPC South-West zonal coordinator, said the visit was to interact with traders’ associations and marketers to ascertain factors responsible for the continuous hike in food prices.

Ms Odo said the commission’s surveillance revealed that wholesalers and retailers were allegedly engaging in conspiracy, price gouging, hoarding and distorting competition in markets across the country.

“We have been able to gather some facts in the two markets visited and they will be collated, reviewed and used as a point of advice to the federal government.

“The commission’s priority remains to unlock the markets and address key consumer protection and competition issues affecting the prices of commodities in the food sector,” she said.

In her response, Bukola Ogunyinka, leader of the Olufi market women’s association, said the hike in food prices was not the fault of market traders.

Ms Ogunyinka said that since the removal of fuel subsidies, the prices of food items have steadily increased.

“We are not the ones inflating the prices. We sell what we buy. A bag of brown beans we bought for N120,000 last week is now N160,000; the government should do something about this,” she said.

Earlier, Muniru Adeyeye, leader of the market men’s association, also denied the allegation that traders were inflating the prices of food items.

“We are not the ones inflating the prices of food items. The removal of fuel subsidy, which is reflected in the cost of transportation, is responsible for this.

“I have never experienced this kind of inflation since I was born. The government should act fast,” he said.

Mary Adetoye, who was in the market to buy food items, said food was becoming out of the reach of the poor.

Ms Adetoye appealed to the government to urgently intervene in the skyrocketing prices of food items.

Munirudeen Adeniyi, a rice seller, said the hike in food prices was due to the closure of some land borders.

(NAN)