Local Rice Price Rise 73% In 12 Months – NBS - Politics (2)

Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,153,008 members, 7,817,973 topics. Date: Sunday, 05 May 2024 at 12:46 AM

Local Rice Price Rise 73% In 12 Months – NBS - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Local Rice Price Rise 73% In 12 Months – NBS (7334 Views)

Akinwumi Adesina: Tackle 73% Debt Service To Revenue For Economy To Grow / NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa / Nigeria’s Excess Crude Account Depletes 73% In Three Weeks (2) (3) (4)

(1) (2) (Reply) (Go Down)

Re: Local Rice Price Rise 73% In 12 Months – NBS by Dnet9dnet: 8:46pm On Jan 04

Our own rice oh

Re: Local Rice Price Rise 73% In 12 Months – NBS by bewisemasses: 8:47pm On Jan 04

We love analysing problems but never solving them

Re: Local Rice Price Rise 73% In 12 Months – NBS by bablon20(m): 8:49pm On Jan 04

Too bad

Re: Local Rice Price Rise 73% In 12 Months – NBS by Exceed15: 8:52pm On Jan 04

KwuoteYourFada:
APC supporters 2016-17: Our darling daddy Buhari isn't wrong to close the borders for foreign rice o

All of Una wey vote APC na Ogun and Amadioha go strike Una

And all 30k stipends on NL wey dey make mouth then. Useless people

1 Like 1 Share

Re: Local Rice Price Rise 73% In 12 Months – NBS by oguns222: 8:54pm On Jan 04

CodeTemplar:
use your own language. If the harvest skull now, you go shout.

Lolz. Still, yorubas are now shouting ebi n PA won.

Re: Local Rice Price Rise 73% In 12 Months – NBS by Elidrisy20: 8:56pm On Jan 04

Thunder scatter buhari and tinubu

Re: Local Rice Price Rise 73% In 12 Months – NBS by Inspirer1: 8:59pm On Jan 04

FG should please open the land borders for importation of rice

Re: Local Rice Price Rise 73% In 12 Months – NBS by MeetZickz(m): 9:01pm On Jan 04

I think the main issues are the middle men not the farmers although if you look at the cost of production u will be surprise that's the farmers are even trying.. u c dose middlemen who buys from the farmers are the ones causing this hyper inflation on the commodities...

oz4real83:
Local production of rice and restricting importation of foreign rice were policies that were supposed to promote and build the Nigerian economy. Unfortunately, excessive greed among local farmers and failure of govt have made this impossible. Nigerians cannot continue to die in silence because of greedy farmers and bad govt policies. The govt should completely remove any form of restriction on rice importation so that Nigerian farmers will have strong competition, this is what will bring down the price of rice, it happened before, rice was cheaper when foreign import removed arrogant attitude from Nigerian farmers

Re: Local Rice Price Rise 73% In 12 Months – NBS by deji17: 9:03pm On Jan 04

Local rice price abroad is equivalent of N135,000 per 50 kg. Rather than sit in one corner and be expecting price to fall, the best strategy is to join producers to make money.

1 Like

Re: Local Rice Price Rise 73% In 12 Months – NBS by deji17: 9:04pm On Jan 04

Inspirer1:
FG should please open the land borders for importation of rice

Where would you get the foreign currency to buy the Rice?

Re: Local Rice Price Rise 73% In 12 Months – NBS by Nicepoker(m): 9:05pm On Jan 04

saintopus:
This is what I don't like. Foreign rice cheaper than local rice.

Its not good at all. What's the need for growing our own, if it's more costlier than the foreign ones

. Cost of production here is high

Re: Local Rice Price Rise 73% In 12 Months – NBS by just2endowed: 9:24pm On Jan 04

MeetZickz:
I think the main issues are the middle men not the farmers although if you look at the cost of production u will be surprise that's the farmers are even trying.. u c dose middlemen who buys from the farmers are the ones causing this hyper inflation on the commodities...

its because there is short in supply largely because of insecurities from bandit and agberos.

if u know how much agberos collect from a trailer of rice as they are entering lagos state, u will shake ur head. some trailer end up paying almost 250k before they reach the market. this illegal tax will be added to the selling price definitely

Re: Local Rice Price Rise 73% In 12 Months – NBS by Nazgul: 9:52pm On Jan 04

oz4real83:
Local production of rice and restricting importation of foreign rice were policies that were supposed to promote and build the Nigerian economy. Unfortunately, excessive greed among local farmers and failure of govt have made this impossible. Nigerians cannot continue to die in silence because of greedy farmers and bad govt policies. The govt should completely remove any form of restriction on rice importation so that Nigerian farmers will have strong competition, this is what will bring down the price of rice, it happened before, rice was cheaper when foreign import removed arrogant attitude from Nigerian farmers

Oga there are no greedy farmers anywhere. What we're experiencing in Nigeria today is a simple economics of demand and supply.

The local farmers being the sole producers of rice for our huge population, could not meet up with the market demand, so rice became scare thus making sellers inflate the price.

When foreign rice was in the market, there was surplus, anyone could easily import rice provided you had the financial resources to do so. This made the price very competitive. But with the banning of foreign rice, and local farmers not being able to meet up with the huge demand, the price would definitely keep rising.

The only solution to this is to open the borders and lift the ban on rice importation. Only then would we experience a significant drop in the price.

2 Likes

Re: Local Rice Price Rise 73% In 12 Months – NBS by adecz: 10:43pm On Jan 04

Two years ago,Emefiele scammed
everyone with his fake pyramids.

Local rice was selling at around N20k
per bag until CBN 'intervened' and destroyed
the system with fake loans that he and
his officials simply embezzled.

https://www.premiumtimesng.com/news/headlines/506516-buhari-says-price-of-rice-to-fall-after-launch-of-pyramids.html?tztc=1

1 Like

Re: Local Rice Price Rise 73% In 12 Months – NBS by Free2Fly: 12:08am On Jan 05

CodeTemplar:
Let it reach N2500 per kg.
Rice farmers will emerge until prices crash again.
The pain is the bandits and thugs taxing rice farmers and retailers.

You get any sense at all?

Re: Local Rice Price Rise 73% In 12 Months – NBS by nnamdi640: 1:06am On Jan 05

CodeTemplar:
use your own language. If the harvest skull now, you go shout.

Ebi ti pa wa ooo! As it was said when Tinubu visited Lagos this last month

Re: Local Rice Price Rise 73% In 12 Months – NBS by oz4real83(m): 3:51am On Jan 05

Nazgul:

Oga there are no greedy farmers anywhere. What we're experiencing in Nigeria today is a simple economics of demand and supply.

The local farmers being the sole producers of rice for our huge population, could not meet up with the market demand, so rice became scare thus making sellers inflate the price.

When foreign rice was in the market, there was surplus, anyone could easily import rice provided you had the financial resources to do so. This made the price very competitive. But with the banning of foreign rice, and local farmers not being able to meet up with the huge demand, the price would definitely keep rising.

The only solution to this is to open the borders and lift the ban on rice importation. Only then would we experience a significant drop in the price.

is there any difference between what you wrote there and mine?

Re: Local Rice Price Rise 73% In 12 Months – NBS by Nazgul: 5:57am On Jan 05

oz4real83:
is there any difference between what you wrote there and mine?

Don't mind me jare sleep be de my eyes.

Re: Local Rice Price Rise 73% In 12 Months – NBS by TruthsFM: 6:04am On Jan 05

Inflation on the rice is much

Re: Local Rice Price Rise 73% In 12 Months – NBS by SaturnNick(m): 6:26am On Jan 05

Too bad for the local man

Re: Local Rice Price Rise 73% In 12 Months – NBS by Konquest: 8:59am On Jan 05

treesun:

https://punchng.com/local-rice-price-rise-73-in-12-months-nbs/

(1) (2) (Reply)

ACF Boss Accuses Northern Elders Of Betrayal. / NATIONAL EMBARRASMENT! Obama Jets Out To Kenya, Leaving Buhari Behind In U.S.A. / Senate Passes 112 Toll-Free National Emergency Number, Awaiting Buhari’s Assent

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 31
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.