Price of local rice drops in Jalingo markets
The price of local rice has dropped significantly in some major markets in Jalingo, Taraba.
A survey conducted on Gadar Bobboji, Kasuwan Bera and Mile Six Markets on Wednesday shows that the price has dropped significantly.
NAN reports that a measure of the local rice sale between N650 and N750, two or three weeks ago, is now sold between N480 and N550.
Similarly, a local rice bag sold between N28, 000 and N30, 000 two or three weeks ago is now being sold between N23, 000 and N24, 000.
When contacted for comment, the leader of rice vendors in the Bobarji market, Alhaji Nura Mohammed, attributed the price decrease to the availability of the commodity in the market.
He said the plentiful harvest recorded by farmers in the state had contributed to the increase in supply.
Mohammed predicted that the price could fall later than the Yuletides if the current supply of rice to the market is maintained.
NAN however found that the price of foreign rice has slightly increased in the markets.
A measure of foreign rice costing N950 two weeks ago is now selling at N1, 000, while a bag of 50kg of foreign rice has risen from N18, 500 to N19, 000. (NAN)
A survey conducted on Gadar Bobboji, Kasuwan Bera and Mile Six Markets on Wednesday shows that the price has dropped significantly.
NAN reports that a measure of the local rice sale between N650 and N750, two or three weeks ago, is now sold between N480 and N550.
Similarly, a local rice bag sold between N28, 000 and N30, 000 two or three weeks ago is now being sold between N23, 000 and N24, 000.
When contacted for comment, the leader of rice vendors in the Bobarji market, Alhaji Nura Mohammed, attributed the price decrease to the availability of the commodity in the market.
He said the plentiful harvest recorded by farmers in the state had contributed to the increase in supply.
Mohammed predicted that the price could fall later than the Yuletides if the current supply of rice to the market is maintained.
NAN however found that the price of foreign rice has slightly increased in the markets.
A measure of foreign rice costing N950 two weeks ago is now selling at N1, 000, while a bag of 50kg of foreign rice has risen from N18, 500 to N19, 000. (NAN)
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