Looking for a resource that shows you the price per Bag of Rice in Nigeria?
Read this article to get started.
A typical food staple on every continent is rice. Rice is a staple food in the diets of the majority of peoples and civilizations around the world. It is a grass species known scientifically as Oryza sativa that is gathered for its seeds, which are used to make cereal grains. In Nigeria, rice is not only a staple food that can be consumed anywhere at any time, but it is also a ceremonial food that is frequently served at celebrations and ceremonies including weddings, naming ceremonies, funerals, and birthdays. But how much exactly does a sack of rice cost in Nigeria?
Jollof, white rice, fried rice, Banga rice, coconut rice, and other varieties of rice are some of the ways it is made in Nigeria. Different sack sizes, including 50kg, 25kg, 10kg, and even 5kg, are used to package rice. Depending on the produce’s brand, color, and quality, these have varying pricing. Rice has always been expensive in Nigeria, as far back as I can remember. This fluctuation may be due to seasonal factors or exchange rates (at the time, Nigeria was still a significant rice importer). Although times have changed significantly, rice is still more expensive than Nigerians would want.
READ – HOW TO START RICE FARMING BUSINESS IN NIGERIA.
The Global Rice Market
China is the largest rice grower in the world. You might envisage the market with a population of roughly N1.5 billion. Strangely, China does not export the most rice worldwide. Despite producing roughly 30% of the world’s rice, the nation is not well-known for exporting the commodity. Additionally, it is the largest rice user in the world.
Thailand is the greatest rice exporter in the world. It exports 30% of the world’s rice production and ranks sixth among the top six rice producers, only below Vietnam, India, and the United States. Nigeria is currently far from any of these indices. However, rice is a staple in the nation. The Rice Farmers Association of Nigeria (RIFAN) reports that while 5.8 million tons of rice are produced there each year, Nigeria consumes roughly 7.9 million tons of rice annually.
The numbers are truly alarming. More than 17 million tons of rice were imported into the nation between 2011 and 2015. To partially meet the 5.2 million tons consumed in 2016, 2.3 million tons were imported. In Nigeria, rice shipments are projected to cost $5 million a day, and the food item accounted for roughly 1.25% of the nation’s budget in that year. Since 2017, the situation has significantly improved, and the Nigerian government assures both rice growers and consumers of a new lease on life.
As of the day this page was created, these are the costs for the various rice products available in the nation. For updates on these prices and other commodity prices in Nigeria, keep watching this page.
Price of Ofada Rice in Nigeria
Nigerian brown rice is a type of rice that is frequently grown in the region and in some other regions of the country. It is named after the town of Ofada in Ogun state. It is amazing because sometimes rice is seen as a luxury item that is sold in upscale bars and restaurants all around the nation.
- Ofada rice (1kg) == N2,050 – N3,000
- Ofada rice (5kg) == N7,000 – N10,000
Current Prices of Rice in Nigeria
- Rice (50kg bag) price in Abuja == N30,000 – N35,000
- Rice (50kg bag) price in Lagos == N32,000 – N35,000
- Rice (50kg bag) price in Jos, Plateau State == N31,500 – N35,000
- Rice (50kg bag) price in Ilorin, Kwara State == N32,000 – N35,000
- Rice (50kg bag) price in Ibadan, Oyo State == N33,000 – N35,500
- Rice (50kg bag) price in Port Harcourt, Rivers State == N33,000 – N35,000
- Rice (25kg bag) price in Lagos == N16,000 – N18,000
- Rice (25kg bag) price in Sokoto, Sokoto State == N15,500 – N17,500
- Rice (100kg bag) price in Sokoto, Sokoto State == N60,000 – N70,000
Now that you know the price per bag, are you ready to get into the rice wholesale and retail business?
How To Download The Rice Production Business Plan Template
Above is a part of the rice production business plan template in Nigerian. In case you need the complete business plan, follow the procedures to download it.
Pay the sum of N5000 (Five thousand naira only) to the account detail below:
Bank: GTBank
Name: Oyewole Abidemi (I am putting my name and not our company account so you know we are real people and you can trust us)
Ac/No: 0238933625
Type: Saving
Thereafter, send us your email address through text message to +234 701 754 2853. The text must contain the title of the business plan you want and also your email address. Immediately after the confirmation of your payment, we will send the rice farming business plan in Nigeria to your email address where you can easily download it.
