# After Sanwo-Olu launches its N5 billion Forward Contract supplies, Eko Rice will cost N33,000 for 50 kilogrammes. - Lagosbased Nigeria News

> Lagos State launched a N5 billion Eko Rice forward contract, listed on the Lagos Commodities and Futures Exchange, priced at N33,000 per 50 kg note with a 60-day tenor. The paddy comes from the state-owned Imota Rice Mill.

- Date: 2023-06-22 · published 2023-06-22T12:00:00.000Z
- Category: policy · region Nigeria · magnitude low
- Page: https://feedsoft.ai/events/8295-after-sanwo-olu-launches-its-n5-billion-forward-contract-supplies-eko-rice-will
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

This is a local Nigerian rice supply-management program with a small effect on global rice or feed prices. It has no clear global price implication.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2023-08-31 | [Global rice supplies tighten after India’s July export ban - India Seatrade News](https://feedsoft.ai/events/34190-global-rice-supplies-tighten-after-india-s-july-export-ban-india-seatrade-news.md) | -2.7% | -3.4% |
| RICE | 2019-12-09 | [Govt may ask FCI to sell 1.5 MT broken rice for grain-based biodiesel units \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/55669-govt-may-ask-fci-to-sell-1-5-mt-broken-rice-for-grain-based-biodiesel-units.md) | +1.7% | +4.3% |
| RICE | 2024-09-18 | [India considers easing export curbs on non-basmati rice as supplies improve](https://feedsoft.ai/events/28269-india-considers-easing-export-curbs-on-non-basmati-rice-as-supplies-improve.md) | -0.6% | -2.0% |
| RICE | 2023-07-20 | [Top rice exporter India bans most shipments as late monsoon hits crop \| India News - Business Standard](https://feedsoft.ai/events/35008-top-rice-exporter-india-bans-most-shipments-as-late-monsoon-hits-crop-india.md) | +1.3% | -0.6% |
| RICE | 2023-05-09 | [Global rice supplies tighten after India's July export ban](https://feedsoft.ai/events/36010-global-rice-supplies-tighten-after-india-s-july-export-ban.md) | -1.6% | -0.1% |

## Sources

- lagosbased.com: https://www.lagosbased.com/after-sanwo-olu-launches-its-n5-billion-forward-contract-supplies-eko-rice-will-cost-n33000-for-50-kilogrammes/

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