Here’s why the price of rice will be dropping soon to N6,000

The price of a 50kg bag of rice will soon be reduced between N6,000 to N7,000. This revelation was made by members of Rice Farmers Association of Nigeria(RIFAN). The group led by the Chairman Rice Processors Association, Alh. Mohammed Abubakar and President Rice Farmers Association of Nigeria(RIFAN) Mall. Aminu Goronyo visited the Minister of Agriculture, Chief Audu Ogbeh in Abuja.

Alhaji Abubakar lamented that the price of rice is an issue bothering farmers and producers as farmers are determined to bring down the cost to its barest minimum in no time. Abubakar also revealed that miller’s have agreed to reduce the cost of paddy rice from N150,000 to N110,000 as its currently being sold in the market.

“If price of rice comes down we are sure rate of smuggling will reduce, once we get the cost of paddy to come down, we assure the price of rice will come down”
our quality now at par with any in the world, quality is no longer a challenge but issues of smuggling is no 1,2 and 3 issues affecting farmers, adding that rice smuggling if not checked by the Nigerian customs kills the industry and moral of the farmer”

On his part, RIFAN President Mallam Aminu Goronyo announced that the actual and real price will be reduced because a bumper harvest is being expected this year.
“We have sat down with the miller’s and agreed that we are going to work together for the interest of Nigerians.

“You have been buying a bag of rice at N18,000,but soon it will be between 13/15 thousand naira. That bag that you buy for 13/14,000,you will buy it for N6/7000 in the nearest future”
“We are looking at the price coming down to as low as N6000 for 50Kg God willing in the next few months”
“our major challenge is the cost of production and the Minister has promised to bring that cost down to the barest minimum.