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.