Some Lagos consumers are enjoying relief from lower rice prices, while others continue to struggle with rising costs of their preferred brands.

Traders and consumers, who spoke to journalists in separate interviews on Sunday in Lagos, reported mixed price movements across markets.

While some rice varieties have become cheaper, others have risen again, forcing households to adjust their food budgets.
A 50kg bag of agric rice, including People’s Choice, now sells for N55,000, down from between N60,000 and N65,000 between July and September.

Similarly, a derica of My Choice rice is sold between N1,000 and N1,100, compared with between N1,300 and N1,500 previously.
Chioma Chigozie, a consumer and fashion designer on Vaughan Street, Costain, said the reduction in My Choice rice prices had brought some relief to her household.

She expressed hope that prices would decline further to enable households to afford the staple food more easily.
A rice trader at Okerube Bus Stop, Ikotun, Daniel Nwachukwu, said the reduction in some Agric rice prices had made the varieties more affordable.

Mr Nwachukwu said a 50kg bag of Agric rice, including People’s Choice, now sold for about N55,000, compared with between N60,000 and N65,000 previously.

He said customers welcomed the reduction and hoped the trend would continue as the festive period approached.
At Eko Idumota, a food seller, Precious John, said rice prices eased slightly in August, encouraging more customers to buy the commodity.

Ms John said the reduction brought some relief to sellers and consumers, noting that customers were more willing to purchase rice when prices fell.

The Lagos State chairman of the Rice Farmers Association of Nigeria, Raphael Hunsa, said the reduction in rice prices might not necessarily hurt farmers.

Mr Hunsa described the development as a welcome relief, noting that agricultural produce prices could rise or fall, depending on production costs and prevailing market conditions.

“In Nigeria, nothing goes up and comes down. We thank God that the price suddenly came down,” he said.

He explained that lower input and production costs could reduce rice prices, while higher production expenses could push prices upward.

Mr Hunsa said government support for rice farmers through tractors and agricultural inputs would help cut production costs and sustain lower prices.

He added that improved access to farm machinery and inputs would enable farmers to produce more efficiently and contribute to market stability.

However, not all consumers have benefited from the reductions, as traders reported price increases for several other rice brands.
Samuel Igwe, a foodstuff trader on Oroku Street, Costain, said BHOG and Yummy Gold rice, which was sold between N56,000 and N57,000 per 50kg bag between July and September, is now sold between N61,000 and N62,000.

Mr Igwe said a 50kg bag of Cap Rice, which previously cost between N60,000 and N65,000, now costs between N70,000 and N77,000.

He added that the variety had become scarce, making it harder for customers to get it at lower prices.

Mr Igwe said other varieties, including Nigerian rice, Three Brothers, African Choice and Elephant Gold, which were previously sold for about N48,000 per 50kg bag, are now sold between N54,000 and N55,000.

He said the recent increase in rice prices followed a period of relative stability between July and September.
Mr Igwe attributed the earlier price reduction to the arrival of newly harvested rice in the market, which increased supply and contributed to lower prices.

He also linked the reduction to an inflow of rice through the borders, which increased the quantity available in the market and helped ease prices.

Another trader at Ebutero Korodom Market, Kehinde, said rice prices had declined previously but increased again because of scarcity and high demand.

Similarly, an anonymous trader at the market said Big Bull rice, which sold for about N55,000 in August, now costs N58,000.
The trader added that My Choice and Mr Rice rose from about N53,000 to N60,000.

The varying prices mean that while some households are benefiting from lower costs, others must spend more or adjust their food budgets to cope with rising prices.

Sustained reductions in production and transportation costs, alongside improved supply, could help ease rice prices further and improve consumers’ access to the staple food.
(NAN)