EKO HOT BLOG reports that the price of rice, a staple food for millions of Nigerians, has surged by 98.47 percent over the past year, rendering this essential commodity unaffordable for many households.
The scarcity of paddy has been identified by industry experts as the primary factor driving the continuous increase in prices of local parboiled rice, impacting mills across the nation.
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A recent survey conducted by BusinessDay in selected Lagos food markets highlights the escalating concerns surrounding food security and affordability in the country. Here are the latest prices of various top local parboiled rice brands:
– Mama Gold Rice, favored among food sellers for its generous yield after cooking, now retails at an average price of N78,500 for a 50kg long grain bag.
– Royal Stallion Rice, a product of the Stallion Group, is currently priced between N77,000 to N80,000, with variations based on location and grain type.
– Big Bull Rice, produced by Wacot Rice Limited, falls within the price range of Royal Stallion.
– Mama’s Choice Rice, known for its cleanliness and minimal stone content, produced by the Olam Group, now commands prices ranging between N87,000 and N90,000 for a 50kg bag.
– Elephant Rice, originating from Rivers State and renowned as a leading brand in south-south Nigeria, is priced at N77,000 to N83,000.
– Mama’s Pride Rice, another Olam Nigeria product, ranges from N70,000 to N85,000.
– Pretty Lady Rice, esteemed for its non-sticky texture post-cooking and distinctive pink packaging, produced by Kaira Rice Mills Limited, costs between N72,000 and N80,000 for a 50kg bag.
– White Lily Rice, though less familiar, is currently priced at N83,000 for a 50kg bag of parboiled rice.
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In contrast, foreign rice varieties, primarily imported from Thailand and other Asian countries, are even costlier. A 50kg bag of any foreign brand is currently sold for between N90,000 and N95,000 in Lagos markets, depending on the brand and grain size.
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