# Rice Prices Surge 20.5% as 50kg Bag Hits ₦112,000 — NBS

> Nigeria's NBS reported that the average retail price of a 50kg bag of local rice rose 20.5% in March 2026 to ₦112,000, while imported rice rose 3.06%. Other staples such as eggs, beans and garri also rose.

- Date: 2026-06-01 · published 2026-06-01T12:00:00.000Z
- Category: report · region Nigeria · magnitude low
- Page: https://feedsoft.ai/events/10157-rice-prices-surge-20-5-as-50kg-bag-hits-112-000-nbs
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

Domestic price inflation in Nigeria reflects local supply and currency pressures rather than global benchmark moves. The effect on world rice and feed prices is minimal.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2024-12-13 | [India's rice stocks surge to record high, boosting export prospects](https://feedsoft.ai/events/26923-india-s-rice-stocks-surge-to-record-high-boosting-export-prospects.md) | -4.0% | -4.2% |
| RICE | 2023-08-10 | [Global rice prices soar close to 12-year highs, according to UN FAO](https://feedsoft.ai/events/34649-global-rice-prices-soar-close-to-12-year-highs-according-to-un-fao.md) | -3.2% | +1.2% |
| RICE | 2020-11-30 | [Economists project weaker rice prices in 2021](https://feedsoft.ai/events/50238-economists-project-weaker-rice-prices-in-2021.md) | -3.6% | -5.4% |
| RICE | 2018-10-03 | [U.S. could ship more rice in 2018-19 — if prices decline](https://feedsoft.ai/events/12052-u-s-could-ship-more-rice-in-2018-19-if-prices-decline.md) | +6.7% | +1.7% |
| RICE | 2026-03-31 | [US rough rice stocks rise 3% as milled rice inventories surge 23% \| Feed & Grain](https://feedsoft.ai/events/20258-us-rough-rice-stocks-rise-3-as-milled-rice-inventories-surge-23-feed-and-grain.md) | -1.5% | -6.6% |

## Sources

- theeconomictimes.com.ng: https://theeconomictimes.com.ng/2026/05/07/rice-prices-surge-20-5-as-50kg-bag-hits-%E2%82%A6112000-nbs/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.