₦airaland Forum

Rice prices could crash next month.

The Lagos State Government has intensified efforts to inaugurate the 32 tonne per hour Imota Rice Mill in Ikorodu. Staff recruitment is ongoing ahead of the commissioning.

Lagos State Government has handed over management of the facility to WACOT Rice Limited, a subsidiary of TGI Group, a private investor, for efficient running.

The private firm is to provide operational support and manage the mill for 9 months in the first instance through Joint Venture. The partnership is subject to renewal subsequently...

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https://naijaphilia.com/blog/2022/11/25/naija-biz-imota-rice-mill-may-crash-rice-prices-from-dec-2022/

Meagre 32 tonnes per hour?

Nigerians consume rice like water.

Same way dangote fertilizer crash price?

DFPS:
Same way dangote fertilizer crash price?

Do your arithmetic properly. 1 tonne = 32
bags. 32 tonnes = 640 bags and
15,360 bags per day if they produce for
24 hours, with shifts and all that. This
will give you an average of 460,800
bags per month. That's definitely not
meagre.

Why does Nigeria Government like situating processing companies far from the source of Raw materials?Not that we have a Swift means of transportation yet.It would have made sense if the railway station connect the entire nation and they being the sole carrier of raw materials. It will leave trailer drivers jobless but, it's the bane of most developed advance economies.

BJanta:
Do your arithmetic properly. 1 tonne = 32 bags. 32 tonnes = 640 bags and 15,360 bags per day if they produce for 24 hours, with shifts and all that. This will give you an average of 460,800 bags per month. That's definitely not meagre.

where them wan see that kind rice mill? before you argue, I farm rice