Business
THE price of de-stoned local rice has dropped marginally by between six and 10 per cent in Enugu markets, causing many residents to shift patronage to the brand.
The News Agency of Nigerian (NAN) reports that dealers in the commodity attributed the positive development to the harvest season for local rice.
A trader at the popular Ogbete Main Market, Mrs Rose Nwakwo, said that a 50-kg bag now goes for N78,000 as against N84,000 in November.
Another dealer at Garki Market, Enugu, Mr Chidi Orji, said that a five liter paint container goes for N6,500 as against N7,500.
Orji urged the residents to buy as much as they could before the price would shoot up again.
NAN also observed that most rice retailers and hawkers, who sell in cups and bushels, are currently stockpiling the commodity.
Mrs Eunice Madu, a grain seller in Mayor Market, said that she was only stocking bags of the brand for the Yuletide.
“I must confess we are selling out almost all our available bags of de-stoned local rice, popularly known as ‘Abakaliki rice’, ahead of the Yuletide.
“Most people are turning to it due to its price drop and improved processing and de-stoning qualities,” she said.
Meanwhile, a buyer, Mr Edwin Okoh, expressed joy over the price drop, saying that his salary could get him more than a 50-kg of the brand for his family.
“It is a thing of joy that the price has gone down to some extent, at least I can get more than a bag for me and my extended family during this Yuletide,” he said. (NAN)
A.I
Dec. 20, 2024
Tags: Mr Chidi Orji Mr Edwin Okoh Mrs Eunice Madu Mrs Rose Nwakwo
