As scarcity of imported rice hits major Nigerian markets, Dr. Cosmas Maduka, President of Coscharis Group, has revealed that his company caught some dealers repackaging its locally grown Coscharis rice brand into foreign bags.
Speaking in an interview with some national dailies, Maduka said his Coscharis Farms Limited has stopped two of their dealers from further carrying out any transaction with them.
“We stopped two of our dealers from carrying out any transaction with us. They would carry our rice and re-bag them into a foreign bag and sell. So, you may not be seeing our brand in the market because of things like this. We are selling our rice to our distributors today at N14,500; the foreign smuggled rice is selling at N25,000,” he said.
The Coscharis Group boss recently unveiled his ultra-modern rice processing mill in Igbariam, Anambra State.