25kg Short-Grain Rice Records A Small Decline
The mean price of imported short-grain rice in the 25kg bag recorded a 0.7% weekly decline in Lagos during the week of July 24.
The FoodPrices weekly tracker lists the current mean price at ₦26,722 across nine markets, with the product recording a 0.7% reduction from the previous week.
Sabo Market Yaba Records The Lowest Price
The market-level data shows that the cheapest recorded price for the 25kg bag was ₦25,500 at Sabo Market Yaba.
Ajah Market recorded the highest price at ₦28,500.
The ₦3,000 difference between the lowest and highest recorded market prices highlights the variation that can exist across Lagos.
Short-Grain Rice Shows A Downward Movement
The 0.7% decline was smaller than some of the reductions recorded for imported long-grain rice during the same week.
Imported long-grain rice in the 25kg bag declined by 3.8%, while the 50kg bag fell by 3.2%. Imported long-grain rice sold by the Derica also recorded a 3.5% decline.
The smaller movement for the 25kg short-grain bag shows that different rice varieties and units do not necessarily experience the same weekly price changes.
Consumers And Businesses Monitor Bulk Prices
A 25kg bag represents a larger purchase than the smaller Derica and Paint measures tracked in the weekly data.
For consumers and businesses buying rice in larger quantities, even modest changes in the mean price can be useful to monitor when planning purchases.
The reported ₦26,722 is a mean across nine Lagos markets and does not represent a fixed price for every seller.
The data comes from the Ministry of Agriculture and Food Systems market survey. Live prices can be followed at https://