BUA Foods has informed distributors of its rice products that it would maintain prices of its BUA Rice to support efforts at making rice more affordable in Nigeria.

According to a statement by the company, this is due to the strong sales potential from the company’s newly upgraded 200,000tonnes per annum rice mill in Kano using locally sourced rice paddy.

According to the company, this decision to maintain prices is as a result of the little reliance on FX for rice production. Prior to 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 areas where raw materials can be sourced locally across all its business areas including rice in order 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.

Published Date: June 22, 2023