₦airaland Forum

Rice is £115 million , ask arsenal....
By the way please drop updates on beans

That's just to tell you that the $/naira isn't the whole story. Greed plays as much role. Is it not the same Nigeria where pos businesses feasted on their fellow countrymen when everyone was in pain?

IyaTola:
Welcome to Nigeria. The reason for the increase for FOREIGN rice is as a result of the increase in $/naira, but I am wondering why local rice is expensive despite the fact that it is produced locally.

RealEzee:
Nigerians r enjoying rice at a cheap price compared to those in jupiter where it is 250k per 50kg bag
Lets us bear,its only for a while

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😁😁😁😁 I know you wan kill am.

happney65:
This is true. Very very true. It will pass the 50K mark on or before December
On Bulabalus's wrinkled scrotum we shall all stand..

Be so rich that you would not be wondering the current price of rice.
You just go to the market,ask for the price ,pay and take your 50kg bag of rice home .
Anyway,thanks for the info.

IyaTola:
Welcome to Nigeria. The reason for the increase for FOREIGN rice is as a result of the increase in $/naira, but I am wondering why local rice is expensive despite the fact that it is produced locally.

The reason is more than that. The ban on the importation of rice is the reason, main reason. As soon as Buhari banned rice importation, the prices began to rise and never stopped again.

Viccur:
Reason the notion of "buy naira to grow naira" is a pipe dream. I believe the local rice dealers/farmers are simply taking advantage of the situation of the country to cash in. They could have moderated the prices to ease affordability. No meaningful difference in both local and foreign prices.

Oga the local farmers are not cashing out as you think. The highest profit margin is made by the millers and with the cost of fuel, it's not even that profitable.

lavylilly:
Local rice they were selling for between 10-15k per 50kg bag in 2017 skyrocketed to over 28k in 2019 & currently selling at 38-49k

Truth is, many Nigerians are not really angry about corruption and stealing of public funds, they're only angry that they're not the ones benefiting from the corruption.

My thoughts exactly, I supported Peter Obi but sometimes I wish that the tribunal will upheld Tinubu's election just so these people can have sense by force. It baffles me why people think about tribalism when it comes to their well being. I have no sympathy for anyone that voted Tinubu. A man who acts before thinking

ivolt:
When we tell some people that local production by itself have little effect on price of some goods.
They will never agree.

If not for the border closure, foreign rice would have been cheaper than local ones.
Cement price did not go down due to local production but they blame Dangote's monopoly
even though it is not really a monopoly.

Is there also a local rice monopoly?

There is only one way to bring down the price of goods, reduce production cost when possible.

Well, you should look into the issue very well before you make conclusion.
Local rice was far cheaper than foreign rice, albeit stony and not well polished before Buhari closed the border against foreign rice. When he did, Nigeria was not producing enough locally to meet demand thus scarcity of rice occurred which pushed up the price. By the time scarcity abated due to influx of foreign rice around 2022, the price of foreign rice remained same or almost same with local rice which is what we're still having till today.
So the way out is to bring down the price of local rice by increasing its availability over and above that of foreign.

IyaTola:
Welcome to Nigeria. The reason for the increase for FOREIGN rice is as a result of the increase in $/naira, but I am wondering why local rice is expensive despite the fact that it is produced locally.

Welcome to the land of excessive greedy people.

[quote author=IyaTola post=125022355][/quote]Why is Nigeria still importing foreign rice? This is the root cause of Nigeria's poverty, the country imports everything, Wheat, PMS, rice even water is imported by Asians into a country that produces nothing.

PureFace1:
Investment in local rice production is not enough

The demand is still higher than supply, when local rice production is really very surplus and there are many competitors there is no way the price won't come down.

you guys dont know that supply will continue to reduce when the government have not address the issue of bandit and herdsmen killing farmers and farming communities in middle belt and north that are mostly hit.

Buhari didnt see much problems in that, Tinubu is following same way.

if we can get all farmers to thefarm and assume there is nothin like insecurities. price will come down.

BTW, where is Buhari rice prymaid he launched in Nigeria?

.... You won't see deceitful liars and defenders of corruption here... Hellanus, shitStuffNg, and co.

Long grain rice in ilorin kwara state; I bought it 45k on Monday in a general market not even supermarket.

Kukutente23:
Well, you should look into the issue very well before you make conclusion.
Local rice was far cheaper than foreign rice, albeit stony and not well polished before Buhari closed the border against foreign rice. When he did, Nigeria was not producing enough locally to meet demand thus scarcity of rice occurred which pushed up the price. By the time scarcity abated due to influx of foreign rice around 2022, the price of foreign rice remained same or almost same with local rice which is what we're still having till today.
So the way out is to bring down the price of local rice by increasing its availability over and above that of foreign.

That is not the full picture.
Local rice of the same quality as foreign rice is expensive to produce and
the foreign rice producers have achieved economies of scale.
When Buhari closed border, foreign rice didn't completely disappear,
it just became more costly because of the extra importation cost; bribery,
seizure and others.

My post is about comparison of the price of imported vs foreign rice not general inflation.
The reason the price didn't crash despite foreign influx is inflation.

Your solution is neither feasible nor sustainable. Who should increase availability?
Farmers or government?
Assuming you could magically increase availability and have a rice glut and temporary price crash.
Commercial rice farmers will simply shift to another industry because it will
no longer be profitable for them and the market will readjust itself.

Nobody invest in rice farming to feed people, they do it profit.
Well, there is one other way to reduce price of rice. Local subsidies.

seunlayi:
It's not yet time to complain, the shege is just starting, I told some APC neighbours early June that fuel will soon hit ₦900, ₦1000 /dollar, rice ₦50k, they called me names

We need that government that they say Democracy is better than the best of it. Our politicians can't stop this problem, Democracy in West Africa is a curse, the best man will turn into a beast after swearing in

It is the the system not any man if you become Nigeria president tomorrow nothing will change

IyaTola:
Welcome to Nigeria. The reason for the increase for FOREIGN rice is as a result of the increase in $/naira, but I am wondering why local rice is expensive despite the fact that it is produced locally.

greed is the major reason,too much gain,\profit...an average black is the most greediest muthafaka on earth

DKM123:
LMAO! The "rice in more expensive in Jerusalem" cronies will soon land in thier dirty suits and portfolios carrying thier 30k stipends in 5naira denominations.
The most usel#ss set of people in the whole wide world. At least Tiiifnuubu is "smart" enough to squeeze the country so his 100th generation will not need to work unlike this 30k stipends mor0ns.

no mind dem

Shebi I tell una make una eat ewa , agbado , dodo and garri una no gree , una go eat Rice and Drinkwater with Timbre


[quote author=IyaTola post=125022355][/quote]

haleeberry:
Long grain rice in ilorin kwara state; I bought it 45k on Monday in a general market not even supermarket.

Oja Oba? So how much. Is the small grain rice.

Flour sells at 36000 it was 29500 2 month ago
Sugar sells at 45000 it was formerly 37000
Local Rice is 45000 formerly 36000
Corn is 60000 formerly 25000
And we just learnt diesel increased 2 days back expect more increase
Tinube more grease to ur elbow
Businesses are closing

Lass lass we go survive

ivolt:
That is not the full picture.
Local rice of the same quality as foreign rice is expensive to produce and
the foreign rice producers have achieved economies of scale.
When Buhari closed border, foreign rice didn't completely disappear,
it just became more costly because of the extra importation cost; bribery,
seizure and others.

My post is about comparison of the price of imported vs foreign rice not general inflation.
The reason the price didn't crash despite foreign influx is inflation.

Your solution is neither feasible nor sustainable. Who should increase availability?
Farmers or government?
Assuming you could magically increase availability and have a rice glut and temporary price crash.
Commercial rice farmers will simply shift to another industry because it will
no longer be profitable for them and the market will readjust itself.

Nobody invest in rice farming to feed people, they do it profit.
Well, there is one other way to reduce price of rice. Local subsidies.

#fact because how is the foreign rice getting into the market yet we have customs manning the borders.

ivolt:
That is not the full picture.
Local rice of the same quality as foreign rice is expensive to produce and
the foreign rice producers have achieved economies of scale.
When Buhari closed border, foreign rice didn't completely disappear,
it just became more costly because of the extra importation cost; bribery,
seizure and others.

My post is about comparison of the price of imported vs foreign rice not general inflation.
The reason the price didn't crash despite foreign influx is inflation.

Your solution is neither feasible nor sustainable. Who should increase availability?
Farmers or government?
Assuming you could magically increase availability and have a rice glut and temporary price crash.
Commercial rice farmers will simply shift to another industry because it will
no longer be profitable for them and the market will readjust itself.

Nobody invest in rice farming to feed people, they do it profit.
Well, there is one other way to reduce price of rice. Local subsidies.

Local rice of same quality is expensive to produce truly. And you're right about the economy of scale issue.
But there's no foreign influx at the level of pre- border closure yet as we speak. Foreign rice is still scarce in the market compared to pre-2020 or so when borders were closed.
The demand for rice is still high. And thinking rice farmers will simply abandon their farms and face something else shows you don't understand farming.
As to the question you asked, it is the govt that needs to increase rice availability by ensuring rice is farmed all year round and inputs for high yield rice become easily accessible and affordable. That's how the Thailand and Philippines of this world became major rice exporters from being importers and now export to China.
Rice is and can be profitable within reasonable price. Note: of all the local staples presently, rice is now the most expensive per kilo and it was not so before now. The subsidy you talk about should be in form of farming inputs and off-taking.
The commodities boards and agric agencies need to be strategic about rice if we want meaningful change

Dem go explain taya!
No evidence.

tctrills:
Oga the local farmers are not cashing out as you think. The highest profit margin is made by the millers and with the cost of fuel, it's not even that profitable.

Both entities are complicit brova

By December, Price of 50kg rice will be 80,000naira only

I bought at Idiroko for 33,000 yesterday.

Is the border now open? Why are these foreign rice still in sales

Una just dey suffer poor masses

IyaTola:
Welcome to Nigeria. The reason for the increase for FOREIGN rice is as a result of the increase in $/naira, but I am wondering why local rice is expensive despite the fact that it is produced locally.

Rice is produced locally

Fuel is imported.

If I sell my local rice cheap, where will I see money to use buy fuel and produce more rice?

dodato:
Global rice prices surge close to 12-year highs and could rise even more

Country Price (USD/kg)
USA 4.50
Japan 3.90
South Korea 3.80
Bhutan 2.70
Nigeria 0.87 - 0.96
… …
Tunisia 0.52

Rice prices surged to their highest in almost 12 years on the back of India’s rice export ban and adverse weather conditions that could impact production, said the United Nations’ food agency.

Price of rice about 12 years ago was just as high at the international market but still quite affordable in Nigeria that same period.

Maybe APC needs to consult PDP how they did it.

Hunger dey pepper many of us
It’s well

HateBigots:
.... You won't see deceitful liars and defenders of corruption here... Hellanus, shitStuffNg, and co.

Pls stop quiting me senselessly. I am not helinues the agbado zómbie