BUA Foods Maintains Rice Prices Across Nigeria

BUA Foods has announced that its rice products, BUA Rice, would maintain their rice prices to support efforts at making rice more affordable in Nigeria.

BrandNewsDay reports that in a remarkable display of commitment to the Nigerian agricultural sector and the economy, Bua Food made this known via a statement to its distributors, noting that due to the strong sales potential from the company’s newly upgraded 200,000 tonnes per annum rice mill in Kano using locally sourced rice paddy.

According to the company, the decision to maintain prices is a result of the little reliance on FX for rice production. Before the BUA Foods business integration which saw its listing in 2022, the BUA Group Chairman, Abdul Samad Rabiu, had stated that BUA’s goal would be to focus on areas where raw materials can be sourced locally across all its business areas including rice to promote food security in Nigeria and support the government in National development.

According to a key distributor in Kano, he said distributors were excited by this development and were sure that BUA Foods in its usual fashion would crash the rice prices further as it had consistently done with its other food products like flour, sugar, and pasta.

By prioritizing local agricultural resources, BUA Foods is not only supporting Nigerian farmers but also contributing to the nation’s self-sufficiency in rice and sugar production through backward integration.

BUA Foods’ steadfast commitment to its vision has gained recognition and appreciation from stakeholders across the industry. The company’s efforts to bolster the Nigerian agricultural sector have garnered praise, positioning BUA Foods as a leader in the drive towards sustainable food production.

The upgraded rice mill and the parboiling plant will further enhance BUA Foods’ rice production capacity, enabling the company to meet the growing demand for its high-quality rice products whilst remaining committed to delivering excellence and ensuring that consumers have access to top-notch rice that is locally produced.

As BUA Foods continues to make significant strides in advancing the Nigerian rice industry, the company remains focused on building strong relationships with farmers, empowering local communities, and contributing to the overall development of the nation’s agricultural landscape.