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RICE DEALER PREDICTS PRICE FALL IN RICE

RICE DEALER PREDICTS PRICE FALL IN RICE

RICE DEALER PREDICTS PRICE FALL IN RICE

BY OMOKHUALE PUAH

A major rice dealer in Umuahia, Chief Anthony Ndubuka on Thursday has said with a high tendency, that the price of rice in Nigeria would fall in November.

Chief Ndubuka revealed this optimism in Umuahia, while explaining the effects associated with the increase in rice grains, on an interview with the News Agency of Nigeria (NAN),

He traced the exorbitance in the price of rice to the ban on rice importation by the Federal Government and the inability for the local rice producers, to fill in the gap. With this the price of these grains has absolutely gone beyond the reach of the common man. “Rice is a constant in many homes and a favorite for children in Nigeria, but most families no longer afford its price” he said.

Chief Ndubuka encouraged Nigerians, saying that rice grains would fall back to its former price as soon as farmers begin harvest, in a few month time.

In his words “I am very sure that this year’s harvest for grain farmers would be a bumper one. In November, the price of rice would definitely fall”, he said.

According to the Rice dealer, scarcity of rice grain was a serious challenge to rice farmers and rice manufacturers in the country, but currently many rice farmers have grasped the challenge and on this effect, there would be plenty of rice grains this year.

Chief Ndubuka also pointed out that the ban on the foreign importation of rice was meant to boost its local demand and production, but the scarcity of foreign rice which led to an increase in the demand of the local one, caused a shortage in the its local production, Due to un preventive measures by the government to bridge the gap.

He finally pleaded the Federal Government to provide incentives to rice farmers, so as to increase output and make them affordable.

In a report from NAN in Umuahia, a bag of local rice now sells for between N18, 500 and N20, 000 as against its N5, 000 and N6, 000, while the imported rice grains now sells for between N23, 000 and 25, 000 at against the prices of N8, 000 and N10, 000 respectively.

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