₦airaland Forum

The price of rice has came down by 46% in major expoting countries like Thailand, China, and India after closure of Nigeria's border.

The decision of the closure of the borders by federal government is aimed at tackling snuggling activities, especially of rice after the country had injected huge amounts of money in local rice and food production.

The move had taken a toll on rice-exporting countries. The price of the commodity dipped by a joint 46 per cent in one month in countries like Thailand and India.

Source:
https://www.thenignews.com/2019/10/border-closure-price-of-rice-drops-by.html?m=1

Na wa oo

Nigeria , we can eat rice

I remember when rice was only on Sundays ,

Now Na every day thing

Bad market

False reporting... Are u trying to claim d dip in price was due to Nigeria's border closure

even rice don cheap for Benin republic

even rice don cheap for Benin republic. we dey buy rice now at the rate of 3,450

Hmmm

We don subsidize for other country nationals yet, na we the government wan use take enrich our shylock rice farmers by fire by force abi?

What happened to putting a price cap ?

eTECTIV:
False reporting... Are u trying to claim d dip in price was due to Nigeria's border closure

Its very possible.

Nigeria imports more rice legally than the whole of European Union, add the smuggled ones then do the maths.

No credible news site to corroborate this info though I'm certain the rice exporting Asian countries will certainly be affected by the drop in demand

dominique:
No credible news site to corroborate this info though I'm certain the rice exporting Asian countries will certainly be affected by the drop in demand

You spoke like a patriot

Very true.

The government needs to keep the borders closed but then they should find something to do about the price of the local rice cos it's really appalling buying local rice this expensive, if local rice can be as low as 10k then anyone found smuggling rice into the country should be jailed at least 10years.

dominique:
No credible news site to corroborate this info though I'm certain the rice exporting Asian countries will certainly be affected by the drop in demand

Not necessarily. My understanding is that like everything else in this country, na dumping. Rice wey do tey for storage and needs to be disposed of. So it is procured at very low price