Rice Millers Declare Surplus Rice Supply for Christmas Period, 50kg Bag Now N32,000

The Abakaliki Rice Mill Owners Association has assured consumers of a surplus rice supply during the Christmas season, thanks to the bumper harvests recorded in 2023.

The association’s chairman, Linus Nkwuda, said on Thursday in Abakaliki that the rice yields were abundant and would meet the high demand for the festive period.

Nkwuda also said that the increased production would result in lower prices, making the staple food more accessible for the people. He said that the prices of rice varied depending on the quality and the species, but they were generally lower than the previous year.

“We are experiencing bumper harvests. So, we expect more rice in the market for consumers this season. We hope to have a good supply to the market; we cannot predict the cost for tomorrow.

“Right now, the prices are fluctuating on a daily basis. Currently, a bag of 25kg of the highest grade is sold between N17,000 and N19,500.

“We had a reduction in price in the month of October because it was sold between N18,000 and N17,000.

“A 50kg bag is sold between N38 and 32 depending on the grade; there are different species of rice in the market. We have Mass, CP, and R8, among others,” Nkwuda explained.

He added that the price was also influenced by the market forces, especially during celebrations like Christmas. He said that having more customers in the market would increase the price, but with high supply, the price would go down.

“According to him, the market forces always determine the cost, especially during celebrations like Christmas. But I hope there will be surplus supply to the market this year, 2023,” the rice miller association chairman said.

He urged the consumers to patronize the locally produced rice, which he said was nutritious, delicious and healthy. He also commended the government for supporting the rice farmers and millers in the state.

(NAN)

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