COMMODITY NEWS: PRICES OF RICE CRASHES IN KANO

Prices of Imported and Local Rice have fallen in Kano, following the foreign exchange has crashed.

At the Singer Market in Kano on Sunday, a Bag of 50kg of Imported rice, which used to cost between N13,800 and N14,500 now sells for 12,500.

A 50kg bag of Local Rice costs N11,000 as against its previous price of N12,500.
A measure of foreign rice, which used to cost N850 and 900, now goes for N700,just as the price of a measure of the Local Rice dropped from its previous value of N650 and N700 to N500.