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HURRAY! Rice to sell for N6,000 per bag

HURRAY! Rice to sell for N6,000 per bag
October 04
16:40 2017
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Aminu Goronyo, national president, Rice Farmers Association of Nigeria, says in the next few months, a 50kg bag of rice will be sold at the rate of N6000.

Goronyo made this statement on Wednesday on the sidelines of a meeting between rice farmers, processors and Audu Ogbeh, minister of agriculture, at the ministry’s headquarters in Abuja.

He attributed the anticipated crash in prices to wet season bumper harvest by rice farmers.

He said operators have resolved to reduce the price of a 50kg bag of rice, which is currently priced within the range of N15,000 to N17,000, to N13,000.

“This is just the beginning. The actual price will still come down because we are expecting a bumper harvest this year; we have sat down with the millers and agreed that we will work together for the interest of Nigerians,” he said.

“At one time, people were buying a bag of rice at the cost of N18,000 but they are now buying it at between N13,000 and N15,000. The price is coming down.

“In the next few months, God willing, the price of a 50kg bag of rice will come down to N6,000. It is achievable, it will be a reality,’’ he said.

Mohammed Abubakar, chairman, Rice Processors Association of Nigeria (RIPAN), said the associations had signed a memorandum of understanding (MoU) to slash the prices of both paddy and processed rice.

“We have agreed at N110,000 per tonne of paddy. In the market, rice will come around N13,000 to N13,500 per 50kg bag,” he said.

“Before now, we were buying paddy at N140,000 and N150,000 per tonne and we are selling our rice at N16,000 per 50kg bag.

“If this MoU works, we hope to sell a bag of rice at N13, 000 to N13, 500, depending on where you are in the country.”

Ogbeh commended the associations for their decision to slash the price of locally produced rice.

The minister, who noted that the biggest challenge facing rice farmers in the country was smuggling, said the move would aid efforts to stamp out rice smuggling into the country.

“Let me express the appreciation of President Muhammadu Buhari and the Vice-President, Prof. Yemi Osinbajo, to both farmers and millers because nobody can calculate what you have done to rescue our country that was very close to disaster,” he said.

“What you have done is going to save us from a lot of difficulties. What we want to promise you is that we will help you ease the burden of rice farming.

“Last year, we procured 80,000 threshers; this year, we will procure another 2,500 threshers and we are bringing in small reapers for distribution to rice farmers.

“The equipment will enable them to cut the rice, thresh it, winnow it and put it in sacks; It will take away all the stress which makes rice farming very difficult so that you can keep to the price of N110, 000 per tonne of paddy that we agreed.

“If we are able to keep these prices stable and we are able to contain smuggling, I hope you will keep us informed when there are any challenges confronting you because no country can claim to be strong if its citizens are hungry.

“Let everybody know that the price of rice for this Christmas will be good enough for us to eat rice, chicken and fish.”

The federal government had banned the importation of rice to improve local production and some states like Lagos and Kebbi have jointly produced rice for commercial activities in their states.

Data made available by the National Bureau of Statistics show that export activities in the agricultural sector has been on the rise in 2017.

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November 16, 2018USDGBPEUR
INTERBANK306397354
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KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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