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Rice-producing states in Nigeria report unsold paddy and milled rice because few buyers or millers are available. Local rice prices are falling, with a bushel in Ebonyi selling for N5,000 compared with N9,000 three years ago.
Off-taker arrangements remain a constraint.
Oversupply in Nigeria's rural rice markets is a local issue with negligible effect on global rice or feed grain prices.
businessday.ngCaleb OjewaleMay 31, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
