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Oluwafemi Awodele
1 week ago
Overview
The price of a 50kg bag of rice has dropped to an average of N54,000 following rumours of alleged deadly rice in circulation. The drop is also a result of the oversupply of the staple from India, according to a report by S&P Global.
It was gathered that the price of the commodity dropped from N58,000 in April, as demand for rice reduced in the last few days due to claims that people died after buying rice in Badagry, Lagos State, and Idiroko in Ogun State.
The demand for rice dropped lately when parents and relatives sent voice messages to their loved ones, warning them against buying or consuming rice this time because it was alleged by another sender on WhatsApp that over 70 persons had died in the past few days after buying or consuming the said rice.
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