The recent drop in rice prices across Nigeria has been attributed by the Association of Rice Millers to the reopening of the Nigeria-Niger border. Jonathan Joshua, chairman of African Rice Millers in Nasarawa and national president of the Association of Small-Scale Agro Producers in Nigeria, highlighted in a statement that this move has facilitated easier access to paddy, the key ingredient for rice production.
Joshua mentioned that the prices of rice are expected to further decrease in the next two months as the harvest season begins. “Some mills that were forced to halt production due to paddy scarcity last year and earlier this year are now resuming operations. With the border reopened, they can swiftly acquire grain from neighboring countries,” he stated. Joshua emphasized that the influx of paddy supply would likely push prices downward once farmers commence harvesting.
Despite the surge in inflation, which soared to 33.20 percent in March 2024, rice prices have notably declined. According to research, there has been a 19 percent decrease in prices, offering relief to Nigerian consumers. The association of millers foresees a continued drop in rice prices as production scales up in the upcoming months.
