SAFAR 18 1431 A.H.
TUESDAY FEBRUARY 2, 2010.
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Price of rice drops in Benue
The price at which local rice is sold at rice mills in Otukpo town, Otukpo LGA of Benue state, has dropped due to low patronage, according to an investigation by the News Agency of Nigeria.
The investigation, conducted on Sunday, revealed that the price of ``grade one’’ local rice has dropped from N3, 500 to N2, 800 per bag.
The price of ``grade two’’ local rice has gone down from N3,000 per bag to N2,600, while the price of ``grade three’’ local rice has dropped to N2,000 as against its former price of N2,400.
Madam Ogodo Ameh, a dealer at one of the mills, attributed the situation to low patronage.
``Our decision to reduce the price of local rice is due to lull in business,’’ she said, adding, ``even with the reduction in price, business is almost at a standstill.’’
Another dealer Mrs. Aladi Ochankpa, who bemoaned the situation, said she has stopped milling rice due to the low patronage.
“The demand for rice has considerably reduced, and we are worried as selling rice is the only source of our income,’’ she said.
Mr. Amos Enekola, who also deals on local rice, told NAN that they were forced to reduce the price of local rice immediately after the Christmas celebration to attract buyers.
He said experience had shown that during this time of the year, there is always a general lull in trade.
Mrs. Grace Ogbe, a consumer, said that the harsh economic situation in the country is responsible for the drop in the price of local rice even as she urged the government to support rice farmers by providing them with more processing machines.
“If well processed, local rice will attract more patronage than foreign rice,’’ Ogbe said.
