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Dec 5, 2023 · According to the AFEX Wet Season Crop Production Report for 2023, this has led to an over 37 per cent increase in the price of the commodity so far in 2023. Impact on business. Some rice dealers ...
Jan 25, 2024 · The report stated, “Selected Food Price Watch for December 2023 shows that the average price of 1kg Rice local sold loose stood at N917.93. “This indicates a rise of 81.35 percent in price on ...
Nov 19, 2023 · The report noted that sorghum prices will increase by 20% in the coming farming season, while cocoa prices will increase by around 70% year-on-year. Backstory. Food prices especially rice have been increasing rapidly in Nigeria in the past few years. In the latest inflation report by the NBS, food inflation reached 31.5%.
Oct 30, 2023 · 10 months ago. in Agriculture, Business, Inflation. The average price of 1kg of loose locally sold rice surged by 60.59%, climbing from N471.42 in September 2022 to N757.06 in September 2023. Additionally, on a month-to-month basis, the average price for this item saw a 2.48% increase from N738.74 in August 2023.
Jan 9, 2024 · This, according to the AFEX 2023 Wet Season Crop Production Report, has led to a supply gap of 2 million MT as well as over 37 per cent increase in the price of the commodity in 2023. Uchenna Daniel of the Green Grain Nigeria Company pointed out that the ABP was implemented by the government to support rice farmers and increase local rice production.
Oct 2, 2023 · In August 2023, the NBS Food Price Watch report shows that there was a continuous increase in food prices for the month. For example, the average price for 1kg of Rice locally sold loose in August 2023 according to the report was N738.74. This reflects a substantial 62.68% year-on-year increase from August 2022 (N454.10).
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Is the price of rice increasing in Nigeria?
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The US data show a significant increase in production between 2015 and 2017, which then slowed before another jump in 2020 when production reached a high point of 5.04 million tonnes. The Nigerian ...
