Agribusiness
Local rice floods markets as frozen food sellers lament low patronage
Various brands of locally-produced rice has gained huge momentum in most major market in Nigeria leading to prices of the commodity slightly dropping
According to the latest household survey, the continuous rise in the price of foreign rice due to the border closure has brought about a huge increase in the various brands of local rice in major markets visited across Lagos State.
Findings in various markets showed that foreign rice now sells for an average of N28, 000 from N27, 750 being sold a fortnight ago.
Also, the latest household survey showed that frozen food sellers are now witnessing low patronage, as Nigerians are increasingly switching to locally bred chicken in the markets.
A carton of frozen Turkey is currently sold for N15,000, Chicken lap for N12,000, Orobo Chicken for N14,000, full Chicken – N13,000, and Gizard sells for N15,000.
Meanwhile, prices of local chickens vary according to type and size. The least size of broilers is sold for N3, 500, breeders for N3, 500, layers for 2,000, and “Akuko” sells for N3, 000.
A visit to Daleko market in Lagos State revealed that scarcity of foreign rice has worsened; rather, there is a significant number of new brands of locally made rice.
A seller in the market disclosed that buyers now purchase the locally made rice as they continue restocking inventories to meet up with high demand.
One of the traders interviewed spoke on the condition of the local rice, “Although the rice is still not perfect, there is significant improvement, compared to earlier when we had to sort out stones from the rice.”
A seller in the market called on the Government to intervene following the constant price hiking perpetrated by the farmers. According to her, “traders borrow money from banks to get these commodities and it is not fair if they have to lose part of their profits because of the greedy nature of some poultry owners.”
