Mr Economics

17/08/2025

What is economics?

10/08/2025

❤️❤️❤️

"Should I sell?" "Should I sell??" I keep getting this question from people who did storage. And below is my suggestions.

When you do storage of agricultural commodities I want you to have a benchmark of expectations in terms of profits or losses. Yes, losses.

Let me use an example to explain. Let us say you stored cashew nuts or palm oil or ogbono or egusi or something else. What you should do is to set a target of profits you want to take and also the amount of loss you are ready to bear. You should have loss at the back of your mind because sometimes loss do occur in storage business.

Let us assume you bought a bag of cashew nuts for ₦100,000 you can say if it increases to
₦120,000 I will sell and take my profit. That means you set a 20% profit target. Remember we didn't factor in expenses here.

Let us also assumes you bought it at ₦100,000 you can say if falls to ₦80,000 you will no longer tolerate it and that you are selling. That means you set a 20% loss bearing target.

Now if you hit the target profit, you will sell. Or or you hit the target loss, you will equally sell. In this case you don't need to ask anyone whether to sell or not, because you have your own yardstick. Remember these two targets may or may not be achieved.

But if you store for storing sake, you will end up wondering when to sell.

So setting a target will help you stay focused. It allows you minimize losses and maximize profits.

The final word is "know how much profit or loss you are ok with and take it when it is achieved" "or "you can go greedy and gain all or lose all" the choice is yours.

10/08/2025

January this year, I bought a c0w for someone that costs more than a million naira. But now you can't get any that is as high as that no matter how big. Why? Because we are not in "season" now.

When it is time of season, they are usually costly. These times are usually "Ember months", January,March or April. Other times, they are usually cheap.

Why am I saying this? You will see someone telling you to send a picture of a c0w and how much it c0st that he or she will be buying in 2 or 3 months time. Oga, madam, it is not necessary. The price today won't be the same that time. And even the price today won't that of tomorrow.

So, gather your money and keep till you are ready. Whatever the market gives, you take. There I no two ways about.

Also let me remind you that what I do is dropshipping of c0w. I don't own a cow,I only create awareness about this market and connect with buyers.

10/08/2025

Good

Market update:yesterday being 9th of August 2024, at Eke Ozzi Market located in Enugu Ezike, Enugu state,each of these buckets of palm fruits was sold for the sum of ₦12,000.

Not everyone processes palm fruits into palm oil before selling. Some will just cut down the palm fruits bunch and detach the fruits and bring them to the market to sell.

These fruits are usually used to prepare ofe ekwu (Banga soup). And it is loved by people both home and abroad.

And the majority of people that patronize them are those living in Abuja and Lagos. It is sent to them on a waybill.

Would you like to have a taste of some? Are you missing ofe ekwu?

08/08/2025

Let me use this opportunity to explain Adani rice to you. I have received lots of questions concerning the Adani rice I posted about two days ago. Take your time to read it, you will learn a lot.

Is Adani rice stone free?

The answer is no. Adani rice has lots of stones and sometimes chaffs. What you should do is after buying at the market, you take it to a de-stoning machine that will remove the stones. That is the only time you will have a stone free rice. There are many de-stoning machines around the market.

Any time you buy Adani rice from a vendor in your place, the vendor has already de-stoned it.

What is a bushel?

What they call a "bushel"is the same thing they call "tin". If someone said he wants a tin of rice, he is also saying he needs a bushel of rice.

A bushel of rice contains 120 milk cups or 100 specialty cup.

How many kg is a bushel? A bushel is roughly 25kg. But it is not exactly 25kg. It is around 22kg but it is generally regarded as 25kg.

So we can roughly say that 2 bushels makes 50kg and 4 bushels makes 100kg.

They don't sell rice in pentas in that market. The minimum they sell is half bushel.

I hope this clarification is helpful?

30/07/2025

This market is located in Enugu Ezike of Enugu state.

Today, 28th July 2025, the price of 25 litres of palm oil came down to ₦57,000 in Eke Ozzi market located in Enugu state. Last week it was ₦62,000.

The reason was because today is lockdown or sit at home. If Eke day falls on sit at home day, people don't normally come to the market much. And because of that the number of palm oil that arrives the market are usually small. And also buyers are small too.

On a normal Eke day, the market is always full to the extent you find it hard to move from one place to another. But today people are scanty in the market.

If you are planning on buying palm oil, this information I am giving here will guide you to make best decision s to when to buy.

Also remember buying for storage will end this month. It it not advisable to buy from next month upwards.

Keep a date with me as I bring you the price of palm oil next Eke day. Bye bye. See you then.

30/07/2025

This market is located in Enugu state of Nigeria

Good morning and welcome to Obollo Afor market. This market at Obollo Afor in Udenu LGA of Enugu state holds every Afor day.

As always, today I will bring you price update of palm oil in the market. Remember I told you the other day that the price of 25 litres of palm oil at Eke Ozzi market was 57k. Today being Afor day of Obollo, I will bring you the update as regards the price in the market.

As we all know, price of palm oil is very volatile. It can be up today,and tomorrow it is down. It can as well be down today and be up tomorrow. Also prices differ in different markets. The prices can't be the same in all the markets.

Keep checking back on this page as I continue bringing you price updates of palm oil and other agricultural commodities. This page should be your go to when it comes to the prices of agricultural commodities.

Why I endeavour to bring you price updates is for you to make decisions on when to buy or sell palm oil. Without the knowledge of the prices,it will be difficult for you to make a decision.

Bye for now till I come back with price update.

14/05/2025

This is an eye opener

02/03/2025

This is for you.

01/03/2025

Today's question for you the economist.

28/02/2025

What is the answer? An what does each of the abbreviation mean?

27/02/2025

Attempt this question. I will be waiting for the right answer. See you in the comment section.