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Home | Price of Rice To Surge By 32% in 2024

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Price of Rice To Surge By 32% in 2024

Daily Report Nigeria
Daily Report Nigeria
Published: June 14, 2025
Last updated: June 14, 2025
1 Min Read
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Price of Rice To Surge By 32% in 2024 | Daily Report Nigeria
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According to AFEX’s recent wet season crop production report, the price of rice in Nigeria is projected to increase by 32 per cent in 2024.

The leading African commodities player’s report, however stated that rice production is expected to rise by approximately 4 per cent.

It said: “While there is an expected increase in production by approximately 4 per cent, we anticipate a potential surge in the price of paddy rice by up to around 32 per cent,”

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AFEX attributed the projected production increase to the absence of a flood in 2023.

Also Read: NBS Reveals Three States With Highest Inflation Rate

Meanwhile, DAILY REPORT NG reports that a 50kg bag of rice jumped to an average price of N55,000 from N12,000 ten years ago.

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
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