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PRICE OF RICE SET TO FALL - Food - NAIRAWAY

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PRICE OF RICE SET TO FALL by nairaway(m) : 3:35 pm On Oct 11, 2016



The Federal Government on Monday declared that price of rice would start to fall from November this year. It stated that more Nigerians had returned to their various farms, adding that at the next harvesting season next month, the price of rice would start to crash.

This came as government said the delay in the approval of the 2016 budget had made it impossible to implement the capital expenditure in the agricultural sector.

The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, said this while addressing members of the Senate Committee on Agriculture and Rural Development at the headquarters of the ministry in Abuja.

Ogbeh, who stated that the government could not be involved in the importation of rice as speculated in some quarters, stressed that his ministry would not encourage rice importation because it would be detrimental to local production.

He said Federal Government was against rice smuggling and noted that the Seme border had become a notorious route for the smuggling of contraband products into the country.

“We will not encourage rice importation and there is no way our ministry or government can be involved in importing rice when we are working hard to be self-sufficient in local production. By November when the full-scale harvest starts, rice prices will fall.”

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