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Rice hits N10, 000 per 50kg bag at Lagos market

The price of a 50-kilogramme bag of imported rice hits N10,000 at the Mile 12 market in Lagos, for the week ending Friday, Nov. 21.…

The price of a 50-kilogramme bag of imported rice hits N10,000 at the Mile 12 market in Lagos, for the week ending Friday, Nov. 21.

This is contained in the commodity index made available to the News Agency of Nigeria (NAN) by Novus Agro Nigeria Ltd in Lagos on Friday.

The index showed that one bag of the commodity sold for N9,167 last week, recording a N833 increase.

Meanwhile, there is reduction in the prices of the 60kg bag of white garri, 100kg bag of maize and 100kg bag of onion, against the preceding week prices.

A 60kg bag of garri, which cost N5,667 in the previous week, now costs N5,500, showing a N167 reduction.

A paint bucket measurement of gari, however, remained at the same price of N300.

A 100kg bag of maize also recorded a decrease from N5,417 last week to N5,000 in the week under review.

Also, a 100kg bag of onion which sold at N15,500, shed N500.

A 100kg bag of groundnut, sorghum and soya beans remained the same at N17,000, N7,000 and N13,500 respectively. (NAN)