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Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg - Business - Nairaland

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Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by Ra88: 6:06pm On Nov 15, 2018
Nigeria’s rice imports will jump 13 percent next year to 3.4 million metric tons, making Africa’s most populous country the world’s biggest rice importer after China, according to the U.S. Department of Agriculture.

“China and Nigeria are projected to remain the largest rice importing countries in 2019, followed by the EU, Cote d’Ivoire, and Iran,” the USDA said in its latest Rice Outlook released Tuesday. “Nigeria and Egypt are projected to account for the bulk of the 2019 import increase.”


The forecast growth is a setback for the Nigerian government, which plans to stop rice imports by the end of this year to save foreign currency. Production had increased more than 50 percent since 2012 to 3.7 million tons last year. Domestic demand rose 4 percent to 6.7 million tons in the 2017-18 year that ended in May.

President Muhammadu Buhari wants to diversify Nigeria’s economy away from hydrocarbons, and agriculture is one of the sectors he has bet on. The economy of Africa’s biggest oil producer is still recovering from a slump in 2016, after the crash in crude prices.


Rice farmers in Nigeria have reported a drop in output since last year due to a combination of higher input costs, insecurity and widespread flooding in the main growing regions. At the same time, people are giving up traditional coarse grains in favor of rice in the country of almost 200 million people.

“The rain has not been favorable to rice farmers this year,” Mohammed Sahabi, chairman of the Rice Farmers Association of Nigeria in Kebbi, one of the main rice-growing states, said by phone. “We lost more than 20,000 hectares of unharvested rice this year in Kebbi alone.”

Current global production exceeds consumption by 2.3 million tons, according to USDA, with 2018-19 “global ending stocks” projected to reach 163 million tons, 17.8 million tons more than previously forecast.


https://www.bloomberg.com/news/articles/2018-11-14/usda-sees-nigeria-rice-imports-increasing-to-3-4m-tons-in-2019

2 Likes

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by SarkinYarki: 6:07pm On Nov 15, 2018
Buharis lies Bursted again !!!

121 Likes 5 Shares

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by Jax1: 6:15pm On Nov 15, 2018
The criminal liars in APC should understand that they would need more lies to cover up initial lies they told us about rice production

169 Likes 7 Shares

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by psucc(m): 6:21pm On Nov 15, 2018
Lies can travel billion miles but it takes a snap for the truth to overtake

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Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by yomi96(m): 6:22pm On Nov 15, 2018
Ogun state governor, Ibikunle Amosun in January 2018 launched its own rice, mitros Rice with the Central Bank supporting the project with millions of Maura.

Fast forward to October 2018, the rice is nowhere to be found and even market women in Ogun said they haven't set their eyes on the rice.

Where is Amosun's mitros Rice? Where is tanko almakura's rich. Apc is fool of lies and deceit, they have no shame

115 Likes 6 Shares

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by Frankiss44(m): 6:23pm On Nov 15, 2018
No matter how far and how quick lies travel.. Truth will eventually catch up with it... Over to you awon zombies

94 Likes 2 Shares

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by Sonoyom(m): 6:23pm On Nov 15, 2018
Buhari's government is filled with lies

93 Likes 2 Shares

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by lilbest4(m): 6:25pm On Nov 15, 2018
Buyer
What about the pyramids?

33 Likes 1 Share

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by Jonadull: 6:25pm On Nov 15, 2018
SarkinYarki:
Buharis lies Bursted again !!!

Sai Baba till 2023

3 Likes 1 Share

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by YorubaAssasin: 6:26pm On Nov 15, 2018
So we can't produce our own food, abi? Dang it! undecided

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Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by Sholaco: 6:27pm On Nov 15, 2018
And so? Jobless people
Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by Histrings08(m): 6:27pm On Nov 15, 2018
I thot we stopped importing rice since we start this regime

30 Likes

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by Admin401(m): 6:28pm On Nov 15, 2018
Lol, even with no money, we are still the highest buyers. What would happen if everyone was rich?

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Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by Legend007: 6:28pm On Nov 15, 2018
how is this figure accurate?

Nigeria has banned importation of rice. This means there are no more containers of foreign rice being declared at the ports.

Now I know foreign rice are still being smuggled through the land boarders, usually done with small vehicles carrying few bags, but how Bloomberg put a figure to smuggling and even project a rise in the figure for the coming year is what I dont understand.

Something definitely doesn't make sense with the news.

7 Likes

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by engrfcuksmtin(m): 6:28pm On Nov 15, 2018
This can not be true, PMB have done enough in Agriculture. Is corruption of the past government that makes it to look like he has done nothing. In addition to the fact that Bloomberg is corrupt grin

22 Likes

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by GrammarNazi1(m): 6:28pm On Nov 15, 2018
SarkinYarki:
Buharis lies Bursted again !!!
Buhari's lies busted again!

15 Likes 1 Share

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by AlphaStyles(m): 6:28pm On Nov 15, 2018
we have up to 200million people and ravaged by civil wars and love parties of course we gonna eat a lot of rice

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Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by chicoMX(m): 6:29pm On Nov 15, 2018
APC na scam las las

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Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by evy800(f): 6:29pm On Nov 15, 2018
And someone was claiming some months back that Thailand has shut down many rice factory because Nigeria has become self reliant in rice production...chaii

58 Likes 5 Shares

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by mrskillz: 6:29pm On Nov 15, 2018
Too much lies, then you start looking like lai Mohammed.

We can't wait to hear his defence on this.

... Expecting a funny response as usual

10 Likes

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by azraeljaheel: 6:29pm On Nov 15, 2018
rice on Sunday /banker/
rice and bean monday evening
rice and spag on wednesday
rice and boli on thursday
rice friday
saturday iya fatimo rice and beans


why we no go be the biggest buyer





the zombie just turn men dem to living dead



#atiku19

15 Likes 1 Share

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by nairaman66(m): 6:29pm On Nov 15, 2018
Nigeria- The Mumu of Africa!!

6 Likes

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by Emmafe(m): 6:29pm On Nov 15, 2018
See award o

Check my signature for phone deals

1 Like

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by Racoon(m): 6:29pm On Nov 15, 2018
Another APC government propaganda bursted.

5 Likes

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by awa(m): 6:30pm On Nov 15, 2018
APC will blame PDP for this

7 Likes

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by Giovanni2332(m): 6:30pm On Nov 15, 2018
How can this be is a pure lie . We a re producing so many that we export to EU and the world . Is too big to be seen with your eyes and I don't think USDA stats can capture it because is enormous.

Tufiakwa Lai Asi Mohammed

22 Likes

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by potent5(m): 6:31pm On Nov 15, 2018
After all the gragra by Bubu and ogbe. Shame on APCshiit.

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Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by BlackPeni5: 6:31pm On Nov 15, 2018
APC is known for so many lies that the devil would look at himself in the mirror and admit defeat.

Dem go import rice, change the package come call am made in Naija.

These people don see us finish.

10 Likes

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by Abbeyme: 6:31pm On Nov 15, 2018
if you believe this news, aye

1 Like

Re: Nigeria Is Biggest Rice Buyer In 2019, Behind China - Bloomberg by ladiesreject(m): 6:31pm On Nov 15, 2018
All these farmers association people, where are they that we don't get to see them?
I want to become a member of that association.
At least I have upto 2 hectares of rice farm, 7 hectares of beans farm and just 3 plots of sorghum farm. I think I'm qualified to be a member.

PS.
Nigeria will continue to import all what they consume until the government decides to make farming attractive. Farming in Nigeria is hard labour (I know what we're going through).

Even after the hard labour, somebody will just price your goods as if he's doing you a favour buying it.

The agro industries that are supposed to be in the north to buy from farmers and process it are all in the south.
Who wants to suffer?

If the government of this country will invest in agriculture, I will not even hunt for any white collar job cos I know how much I'll get from my farm. But what do we have today? Absolutely nothing! Let them keep importing every food they need till the end of time. Useless country.

12 Likes 4 Shares

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