# Rice To Hit ₦‎50,000 Per Bag, Find Out Why - Daily News Reporters

> Nigerian traders expect locally parboiled rice to reach N50,000 per 50kg bag before December following flood damage across many states. Paddy prices have jumped from N200,000 to N300,000 per tonne in three weeks, and diesel costs have nearly tripled.

- Date: 2022-10-29 · published 2022-10-29T12:00:00.000Z
- Category: weather · region Nigeria · magnitude low
- Page: https://feedsoft.ai/events/7736-rice-to-hit-50-000-per-bag-find-out-why-daily-news-reporters
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Flood losses and higher diesel costs tighten Nigerian rice supply and raise import demand, supporting global rice prices and feed-grade alternatives.

## Read by commodity

- RICE: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2022-10-29 | [Rice To Hit ₦‎50,000 Per Bag As Floods Ravage Farms – 36NG](https://feedsoft.ai/events/7733-rice-to-hit-50-000-per-bag-as-floods-ravage-farms-36ng.md) | +7.3% | +11.2% |
| RICE | 2026-05-13 | [El Niño fears push rice importers to build stocks as Thailand watches drought risk](https://feedsoft.ai/events/19304-el-nino-fears-push-rice-importers-to-build-stocks-as-thailand-watches-drought.md) | +7.7% | +2.4% |
| RICE | 2019-07-29 | [Food to get costlier: Inflation may rise as poor monsoon rains hit rice, food grain output - Economy News \| The Financial Express](https://feedsoft.ai/events/58050-food-to-get-costlier-inflation-may-rise-as-poor-monsoon-rains-hit-rice-food.md) | -4.0% | -10.0% |
| RICE | 2024-04-07 | [Bangkok Post - Rice exporters predict higher prices in Q2](https://feedsoft.ai/events/10811-bangkok-post-rice-exporters-predict-higher-prices-in-q2.md) | +6.6% | +16.0% |
| RICE | 2024-06-21 | [Explainer: Why food prices will remain high in India \| Reuters](https://feedsoft.ai/events/29727-explainer-why-food-prices-will-remain-high-in-india-reuters.md) | -6.9% | -20.9% |
| DIESEL | 2022-10-29 | [Rice To Hit ₦‎50,000 Per Bag As Floods Ravage Farms – 36NG](https://feedsoft.ai/events/7733-rice-to-hit-50-000-per-bag-as-floods-ravage-farms-36ng.md) | -7.9% | -32.0% |
| DIESEL | 2022-06-30 | [Peak hurricane season looms with no room for U.S. refining outages \| Reuters](https://feedsoft.ai/events/41117-peak-hurricane-season-looms-with-no-room-for-u-s-refining-outages-reuters.md) | -7.9% | -8.5% |
| DIESEL | 2026-01-23 | [US energy sector braces for winter storm as crude and natural gas output fall \| Reuters](https://feedsoft.ai/events/4761-us-energy-sector-braces-for-winter-storm-as-crude-and-natural-gas-output-fall.md) | +8.1% | +12.1% |

## Sources

- dailynewsreporters.com: https://dailynewsreporters.com/rice-to-hit-%e2%82%a650000-per-bag-find-out-why/

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