Friday, March 16, 2018 /4:50 PM /FDC
Rice is a widely consumed staple in Nigeria with aggregate demand in excess of 6mn tonnes. Recently, there have been government assertions of self-sufficiency in rice. The domestic price has been declining but there is a wide divergence between imported, rural, urban prices and brands.
An interesting and noteworthy development is that the global price of rice is increasing whilst the domestic price is plummeting.