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Food Inflation and Price 0f Rice 2014-2022

 Food Inflation and Price 0f Rice 2014-2022

The Meals and Agriculture Group states that the typical value of a 50 kilogram find of rice changed into N2,500 in 2000. The Nationwide Bureau of Statistics states that the typical value of a 50 kilogram find of rice in 2014 changed into N10,000.

A 50 kg find of rice sold for a median of N26,000 on the tip of June 2020, per surveys conducted by SBM Intelligence.

The Meals and Agricultural Group studies that the value of the most unique customary food in Nigeria and the total world has elevated from N2,500 to N26,000 in factual twenty years. A 20-year rise of 1,000%.

Set up of 50kg Rice/find in the last 10 years

2013: N12,000   2014: N10,000    2015: N10,000

2016: N13,000   2017:   N16,000   2018:   N18,500

2019:  N19,500   2020:  N26,000    2021:  N25,000

2022:  N31,000   2023:   N55,000

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