Home AGRICULTURE Rice Farmers Give Hope Of Price Crashing To N6,000 Per Bag Soon

Rice Farmers Give Hope Of Price Crashing To N6,000 Per Bag Soon

RiceRice farmers, millers and processors have given hope to Nigerians, announcing that the price of a 50 kilogram bag of rice will soon crash to N6,000.
According to them, the current market price of rice, which is about N15,000 per 50kg bag, will drop to between N6,000 and N7,000 in a couple of months, as a result of bumper wet season harvest.
Speaking on the sidelines of a meeting between rice farmers/processors and the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, at the ministry’s headquarters, in Abuja, the National President of the Rice Farmers Association of Nigeria (RFAN), Mr. Aminu Goronyo, said that operators had resolved to reduce price of rice to N13,000 per 50kg now.
He stressed that the price would further drop to N6,000 in a few months.
“This is just the beginning, the actual price of rice will come down because we are expecting a bumper harvest this year. We have sat down with the millers and have agreed that we are going to work together for the interest of Nigerians. I think you have been buying a bag of rice at the cost of N18,000, but today the price is between N13,000 to N15,000, meaning that the price is coming down.”