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Price of Rice Crashes As Ramadan Draws Near

rice

The report on prices of selected food released by the National Bureau of Statistics (NBS) in May indicated that the price of rice dropped by 7.22 per cent in April.

According to the report published on its website, NBS said the price fell from N418.71 in March to N250.30 in April per kilogramme indicating a 7.22 per cent reduction.

The Bureau also released the current prices of some other products including eggs.

It said that the average price of 1 dozen of medium size Agric eggs decreased month-on-month by 1.71 per cent to N518.66 in April 2017 from N527.69 in March 2017.

The Bureau said that the average price of 1 kilogramme of tomatoes increased by 6.36 per cent.

It means that the price increased from N268.64 in March to N285.72 in April.

An independent check shows that the price of 50 kilogramme bag of imported rice dropped from N28,000 it sold in May last year to N15,500 at the popular Garki Market in Abuja.

bags-of-rice
The slight increase in the price of tomatoes has been attributed to the season.

Malam Adamu Abubakar, a tomatoes dealer at the market, said that rainy season was not good for cultivation of the northern brand.

He explained that only the Southern brand with heavy seeds can thrive, but not sufficient to meet the demand.

Price of onions has dropped with a small basket which sold for between N800 and N900 in March selling for between N400 and N500 in May.

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