Local Rice Prices Plummet in Enugu Markets: A Welcome Relief for Residents

Local Rice Prices Plummet in Enugu Markets: A Welcome Relief for Residents

In a welcome development, the prices of de-stoned local rice have dropped significantly in Enugu markets, causing a surge in demand for the commodity. The price drop, which ranges from six to 10 per cent, has been attributed to the harvest season for local rice, and residents are taking advantage of the reduced prices to stock up for the yuletide season.

According to traders in Ogbete Main Market and Garki Market, Enugu, the price of a 50-kg bag of de-stoned local rice has dropped from N84,000 in November to N78,000, while a five-litre paint container now sells for N6,500, down from N7,500. The price drop has led to a significant increase in sales, with many retailers and hawkers selling out their stocks quickly.

Traders and dealers in the commodity are attributing the price drop to the harvest season, which has resulted in an increase in supply. "The harvest season has brought in a lot of local rice, which has led to a decrease in prices," said Rose Nwakwo, a trader in Ogbete Main Market. "We are selling out fast, and I advise residents to buy as much as they can before the prices go up again."

The price drop has come as a relief to many residents, who are taking advantage of the reduced prices to stock up for the yuletide season. "I am buying as much as I can because I know the prices will go up again soon," said Eunice Madu, a grain seller in Mayor Market. "The de-stoned local rice is very popular, and many people are turning to it because of its improved processing and de-stoning qualities."

For many residents, the price drop is a welcome relief, especially during the yuletide season when food prices tend to increase. "I am very happy that the price of local rice has dropped," said Edwin Okoh, a buyer. "I can now afford to buy more than 50kg of rice for my family, which is a big relief."

The increase in demand for local rice is also a boost to the local economy, as it supports local farmers and traders. "The demand for local rice is a great opportunity for our local farmers and traders to benefit from the yuletide season," said Chidi Orji, a trader in Garki Market. "We are happy to see the prices drop, and we hope that it will continue to drop in the coming weeks."

As the yuletide season approaches, residents are advised to take advantage of the reduced prices to stock up on local rice. With the harvest season in full swing, it is expected that the prices will continue to drop, making it a great time to buy. Whether you are a retailer, hawker, or buyer, the price drop of local rice is a welcome relief, and it is expected to bring joy to many families during the yuletide season.