Good news: RIFAN set to reduce Price Of Nigerian Rice To N12,000 Per Bag

Good news: RIFAN set to reduce Price Of Nigerian Rice To N12,000 Per Bag

Rice Farmers Association of Nigeria (RIFAN) is set to reduce the high cost of the most consumed staple in the country to N11,000 per 100kg bag of paddy rice and N12,000 per 50kg bag of milled rice.

National president of the association, Aminu Goronyo said it was not the first time that the association was making such a move in the country in a bit to curtail the rising price of paddy which currently sells between N18, 000 and N23, 000 per 100 kg, depending on the location across the country.

National women leader of the association, Nnenna Ejim, said the association had commenced the sale of paddy at N11, 000 in some locations.

In Taraba State, sources said the association had sold 3,600 tonnes (36,000 bags) collected from members as 30% equity of the 2019/2020 dry season recovery and sold to millers in the state.

The millers, are however, to sell the milled product for N15, 000 per 50kg in the market under the existing Memoranda of Understanding between the farmers and the association.

Some farmers said there might be variation in the prices in some locations because of other factors such as transportation.

Musa Akwaba, who has been a farmer for over 20 years, forecasts crash in the price as many farmers join in the cultivation of the crop. “Looking at the planting this year, almost every farmer is now planting rice. “So the possibility of hiking the price may not be there again,” he said.

Experts are of the view that since the federal government closed the borders, some persons have reportedly been engaging in hoarding, buying and storing both paddy and milled rice. One of them, Toyin Aina, said inadequate paddy was frustrating processors’ efforts to control the price of rice in the market.

 “In the market now, the price of N50 kg bag of rice ranges from N18, 000 to N19000 depending on the location, and you cannot blame the processors for that; it is the cost of the paddy they bought among other things. 

But the farmers said if the Anchor Borrower Programme introduced by the Central Bank of Nigeria was sustained, the issue of inadequate paddy in the country would be permanently addressed.

The Secretary of the Taraba State chapter of rice farmers Association, Mamman Rabiu, stated that “the essence of Anchor Borrower Programme is to ensure food safety and security.”

 A rice miller, Nuhu Hamza, said the decision of the farmers to reduce the price of the paddy was a welcome one, but worried if that would be enough for the price of milled rice to crash at the moment. He said at present, there was no enough paddy for all the processors to buy, making price regulation difficult