Tag: Rice

News

Rice production falls to 8.3MT despite interventions – Report

Nigeria’s rice production has dropped to 8.3 million tonnes for the 2024/2025 cycle, down from 8.9 million tonnes the previous year, despite ongoing government efforts to boost agricultural output. This decline has raised concerns as the Federal Government continues to implement interventions focused on improving food security and combating hunger nationwide. Data from the United […]

Economy

Price of rice crashes by over 20% in major markets

The price of rice has fallen by 20-30% within two months on major markets, amid rising food price inflation in Nigeria. This will be a relief to Nigerian households that spent N88,000 on a 50 kg bag of rice as recently as February. The report noted that analysts surveyed some markets in Lagos and found […]

Rice price to surge by 32% in 2024 – Report
Business

Rice price to surge by 32% in 2024 – Report

The AFEX Wet Season Crop Production Report for 2023 projects that the price of paddy rice will rise by 32% in the 2023–2024 crop production year, while the production output is expected to grow by 3.6%. According to The Times, the report clarified in its outlook for rice production that, in contrast to 2022, when […]