At Lekki-Jakande Market, the week of June 1 was a rice buyer's week, with most grades flat or falling against a beans market that kept climbing.
Against Its Own Recent Prices
The clearest move was Royal Stallion, a 50kg bag easing to ₦60,000 from ₦70,000 in the week of March 16, down 14.3%. Imported short grain slipped to ₦58,000 from ₦60,000, down 3.3%, while imported long grain firmed to ₦60,000 from ₦56,500 in the week of January 26, up 6.2%. Three brands were first captured in June, My Choice short grain at ₦67,500 a bag, Vitali long grain at ₦65,000 and Caprice at ₦60,000.
Against Ajah, the Same Week
On the brands both markets carried, Lekki-Jakande was cheaper. A 50kg bag of My Choice short grain was ₦5,500 less than at Ajah Market, and imported short grain was ₦2,000 less. Vitali long grain was identical at both, ₦65,000.
Against the Rest of Lagos
Royal Stallion's dated backdrop runs wide, from ₦52,000 at Agege in February to ₦87,000 at Balogun in late January, with Mile 12 and Oyingbo at ₦65,000 in January. Imported short grain across Agege, Ayobo, Ikotun and Ipaja clustered at ₦54,000 to ₦56,000 in March and April. Lekki-Jakande's June rice sits in the middle of those historical ranges, neither the cheapest nor the dearest.
The Bigger Picture
Imported rice tracks the exchange rate the CBN monitors, and the easing across grades suggests steadier supply this season, a marked contrast to beans. Buyers can line up brands on the grain price index. Live prices: Lekki-Jakande Market.