Why price of rice crashed in Nigeria – Millers

The Association of Rice Millers have attributed the decreasing rice prices in Nigeria to the reopening of the Nigeria-Niger border.

Jonathan Joshua, chairman at African Rice Millers, highlighted that mills previously shut down due to paddy scarcity are now reopening, benefiting from easier access to grains from neighboring countries.

With expectations of further drops in rice prices in the coming months as harvests commence, consumers may see relief amidst rising inflation.

“Some mills that shut down production owing to the scarcity of paddy last year and early this year are now reopening as they can quickly source the grain from neighbouring countries due to the reopening of the Nigeria-Niger border.

“We expect paddy prices to drop further when farmers commence harvesting in two months,” he said.