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Kano Residents Lament High Cost of Rice Despite Mass Production

– Most residents in Kano have cried out over the high cost of rice in the state

– Kano residents also lamented that the popular staple food is gradually becoming unaffordable

– Merchants attributed the high cost to the increase in the price of paddy and introduction of middlemen in the business

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Despite the mass production of rice by farmers in Kano, residents have lamented the high cost of the staple food in the state as it is gradually becoming unaffordable to the common man.

According to Daily Trust, rice merchants attributed the recent high cost to the introduction of middlemen in the business and a hike in the price of paddy as well.

A market survey showed that a bag of locally milled rice which cost N16,000 as at January 2020 is now sold between N22,000 to N24,000 per 50kg. A bag of paddy now goes for N16,000 as against the N9,500 price back in January.

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Meanwhile, Musa Idris a small-scale rice mill owner explained that the hike in paddy is gradually forcing many mini rice mills to increase their rice price or stop production because they lack the capacity to buy and process at such a high price.

Kano residents lament high cost of rice despite mass production by farmers

Kano state residents are lamenting over the high cost of rice.
Source: Original

Bala Sani Maitan, a rice paddy merchant, on his part said most of the merchants were purely businessmen who buy and store paddy just to mop it out of the market and sell at an exorbitant price after creating artificial scarcity.

The Kano state commissioner of commerce and industry, Alhaji Ibrahim Mukhtar, noted that the government was aware of the development and measures are already being taken to address the issue.

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Earlier, reported that Governor Mohammed Abubakar of Jigawa state blamed the high cost of food in the country on past leaders describing them as chronic importers.

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He said this at the virtual inauguration of 12 projects across six geopolitical zones of the country by Dr. Ali Pantami, minister of communications and digital economy, on Thursday, August 21, in Abuja.

According to him, food was expensive in Nigeria because there were no policy direction or any form of substitution to importation.

In a related development, the Nigeria Bureau of Statistics (NBS) released the Consumer Price Index (CPI)/Inflation report for the month of July 2020, with the country’s headline inflation rising to 12.82 per cent from 12.56 per cent in June.

According to the report, food inflation also rose to 15.48 percent in July from 15.18 percent in the previous month. The report indicates that core inflation rose to 10.10 percent from 10.13 percent in June.

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