The decrease in rice prices nationwide has been attributed to the reopening of the Nigeria-Niger border, according to the Association of Rice Millers.
In a statement, Jonathan Joshua, chairman of African Rice Millers in Nasarawa and also the national president of the Association of Small-Scale Agro Producers in Nigeria, highlighted this factor.
Joshua mentioned that the price of rice is anticipated to decline further over the next two months with the beginning of the harvest season.
He added, “Some mills that had ceased production due to paddy scarcity last year and in the early months of this year are now resuming operations as they can easily acquire grains from neighboring countries following the reopening of the Nigeria-Niger border.”
“We anticipate a further drop in paddy prices once farmers start harvesting in the next two months,” he emphasized.
Despite a 33.20% inflation rate recorded in March 2024, rice prices have seen a 19% decrease, as reported by NewsNow.