Business

Why rice price is decreasing in Nigeria – Millers

According to the Association of Rice Millers, the countrywide drop in rice prices is caused by the reopening of the Nigeria-Nigeria border.

This was revealed in a statement by Jonathan Joshua, chairman of African Rice Millers in Nasarawa.

Joshua, who also serves as the national head of Nigeria’s Association of Small-Scale Agro Producers, stated that rice prices should continue to decline after harvesting begins in two months.

“Some mills that shut down production owing to the scarcity of paddy last year and early this year are now reopening as they can quickly source the grain from neighboring countries due to the reopening of the Nigeria-Niger border.

“We expect paddy prices to drop further when farmers commence harvesting in two months,” he said.

According to ZINGTIE, rice prices fell by 19% in March 2024 despite growing inflation, recorded at 33.20 percent.

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post.

Jonathan Nwokpor

Recent Posts

I am done – Chidimma Adetshina quits pageantry

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

18 hours ago

See what Hisbah did to 60-year-old man for posting photos of women he had affairs with on Facebook

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

18 hours ago

Non compliance: CAC publishes names of companies stricken-off register

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

18 hours ago

BREAKING: Labourer killed, three injured as Police, soldier clash in Ebonyi

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

18 hours ago

VIDEO: Man left heartbroken as girlfriend marries a Caucasian man after ending their 2-year relationship

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

1 day ago

VIDEO: Man calls his daughter in the university to permit her to have a relationship

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

1 day ago