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Wednesday, June 19, 2024

Why There’s Drop In Price Of Rice Nationwide — Millers

Rice millers

The Association of Rice Millers has cited the reopening of the Nigeria-Niger border as the reason for the decrease in the price of rice rice nationwide.

Chairman at African Rice Millers in Nasarawa, Jonathan Joshua, made this known in a statement on Sunday.

Joshua, who doubles as the National President of the Association of Small-Scale Agro Producers in Nigeria, disclosed that the price of rice will drop further in the next two months once harvest begins.

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He explained that the mills that shut down due to the dearth of paddy have now resumed operation as they sourced for grain in neighbouring countries.

“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 neighbouring 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.

Rice prices went down by 19 per cent despite rising inflation which stood at 33.20 per cent in March 2024

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