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Farmers, mills and rice processors announced on Wednesday that the price of a 50-kg bag of rice will fall to the lowest N6,000 in the next few months.
According to them, the current market price of rice, which is around N15,000 per bag of 50kg, will fall between N6,000, and N7000 in a few months, leaving sheltering wet season harvesters to rice farmers.
Speaking at the margins of the meeting between rice / rice processors and the Minister of Agriculture and Rural Development, Mayor Audu Ogbeh, at the headquarters of the ministry in Abujia, National President, Rice Nigeria Farmers Association, Mr. Aminu Goronyo, told reporters that operators decided to reduce the price of rice at N13, 000 per 50kg, but stressed that the price for the next few months would still fall to the N6,000.
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