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Rice: Thai Merchants Slam $300m Rates On Nigerian Importers - Business - Nairaland

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Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by Islie: 7:50am On Oct 18, 2021
.........Self-sufficiency in rice production not realistic in 2022

Following scarcity of containers, a total of N290 billion ($579.75 million) will be paid to shipping lines as freight rates by rice importers before the end of the year. The affected rice importers, who have their rice trapped in Thailand and other Asian countries, are from Nigeria, Ghana, Togo and Republic of Benin.

Findings revealed that in the first week of October, 2021, the shipping lines imposed $150 on a tonne of parboiled rice valued at $405 because of scarcity of containers. Of the total amount, it was revealed by Thai Rice Exporters Association (TREA) that Nigerian rice merchants, who have ordered two million tonnes of the grain would pay $300 millon; Benin, $81 million for 540,000 tonnes; Togo, $56.25 million for 375,000 tonnes and Ghana, $142.5 million for 950,000 tonnes.

Also, it was gathered that the shift from container to bulk shipments had affected the cost of foreign rice importation into Nigeria and other West Africa countries from Thailand, Singapore India and other Asian countries in the last quarter of 2021.

Presently, a bag of foreign rice sells for between N29,000 and N30,000 for the long grain and small grain variety in Nigerian market respectively, while a bag of the local grain is sold between N22,000 and N25,000 depending on the quality.

Statistics by a global trade portal, Index Mundi, revealed that the country imported 1.8 million tonnes or 28 per cent of local consumption last year despite stringent measures by government as local production of the milled rice dropped from 5.04 million tonnes to 4.7 million tonnes in the period.

The Thailand exporters have complained that container freight costs from Asian origins such as Thailand and India were almost twice the levels break bulk ships loaded with rice arrived in West Africa amid clogged ports.

Thailand rice exporters have already cut the price of the grain from $507 to $405 in October, 2021, in order to enable them supply their cargoes to the West African buyers.

The development is coming as plan to achieve self-sufficiency in rice production by the Federal Government in 2022 becomes doubtful as the country still depends on 1.8 million tonnes of smuggled rice from neighbouring Benin to meet local consumption despite the agreement entered into by the Federal Government and the Republic of Benin, in Abuja, to end rice smuggling.

Government has been making substantial efforts for a decade to encourage rice cultivation in order to eliminate imports through subsidised loans, cheap fertiliser, free farmland and tax rebates, but it was gathered that some farmers refused to pay back their loans to the Central Bank of Nigeria (CBN).

According to Rice Farmers’ Association of Nigeria (RFAAN), Niger State chapter, some farmers have been dragged to court for defaulting in repayment of loans taken from CBN.

The association noted that farmers, who benefitted from the CBN special intervention project for rice farming were expected to return a certain amount of their harvests as loan repayment.

But the state coordinator of the project, Idris Makaranta, complained that they had refused to redeem the return expected from them from their last season harvest as agreed.

Makaranta explained at the inauguration of the centre coordinators of the state RIFAN/CBN Special Project in Bida that “from the 40,000 farmers, who participated in last season’s rice farming, we were supposed to recover between 300,000 and 400,000 bags of paddy rice, but we have only recovered about 100,000 bags.

“We have handed the defaulters over to court to recover our return for us, while anyone who has brought more than 60 per cent of the returns would be considered for dry season farming.”

It would be recalled that the Federal Government had made moves to attract N250 billion investments in rice production following plans to establish an additional 14 rice mills in the country. However, efforts to boost domestic production have been curtailed by smuggling through the porous borders.

Between January and April, 2021, the Federal Operation Unit, zone A of the Nigeria Customs Service (NCS) in Lagos seized 41,652 bags of 50 kilogrammes smuggled parboiled rice from Idiroko and Ipokia in Ogun State and Lagos. Also in Ogun State, 20,538 bags of rice were intercepted by the Service between March and April, 2021.

Meanwhile, the National Chairman of Rice Processors Association of Nigeria (RIPAN), Alhaji Mohammed Abubakar Maifata, had said that smuggling of foreign rice would soon come down to zero level, while the local rice would fill the gap conveniently if farmers received necessary support from government.

The chairman urged all stakeholders to join in the campaign against the activities of smugglers through advocacy and sensitisation to ensure attitudinal change on the part of the outlaws.

https://www.newtelegraphng.com/rice-thai-merchants-slam-300m-rates-on-nigerian-importers/

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by dawnomike(m): 8:17am On Oct 18, 2021
Ride home to be expected soon...
Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by dawnomike(m): 8:17am On Oct 18, 2021
Rice hike to be expected soon...
Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by Mrsoft3(m): 8:21am On Oct 18, 2021
We need to eat local rice more often, imagine the millons of dollars we are enriching other countries. How will our economy ever grow this way. It saddens me how we Nigerians can't encourage one another to become better and spend this money in the country. Presently there is scarcity of money, the flow is directed to places it is not needed that often.


We need to start buying and producing,this is the only way we can get better. Rome was not built in a day

Modified
Let me enlightened you on this quickly

See the north east states
Maiduguri,yobe Adamawa Bauchi are the largest producers of beans in Nigeria, it is a sad thing the insurgency that has affected this regions,farmers died,some where displaced and now staying in idps, the others remaining are scared of going to farm.

The Nigeria population is increasing everyday with no sustainable development or plan to ensure safety and good health.
Initially even with this states we still didn't meet up with production, in the space of 10 years the price of beans has increased dramatically and it all point out to the low supply and high demand.

Now fast forward to our present day, the north west and central are being ravage by bandits and herdsmen. Many where killed,many are being displaced. The rest put of fear won't go to farm. Many are being maimed and hands cut off this is the present situation up north, we are now left with lesser supply in the market, I tell you the level of food scarcity this country will face next year eyes has not seen neither has ear heard.

It is true naira fell furthermore to the dollars and cost of import goods increase, I wonder why Nigeria still imports fertilizer, aside that we don't even have the larger number of farmers going to farm, rain and climate change affected alot of harvest in the country...hike in price is inevitable,the risk of transporting grains in Nigeria has trippled, we must eat. What are we going to do.

58 Likes 1 Share

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by Mrsoft3(m): 8:22am On Oct 18, 2021
dawnomike:
Rice hike to be expected soon...


It's not suppose to be, it is our own greed that is causing all this, we should understand where we are presently financially.things are hard, wickedness has increase. We just need people to come to their senses and help one another grow.

24 Likes 1 Share

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by 22o62021: 8:35am On Oct 18, 2021
Them still dey impor foreign rice come this country

12 Likes

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by free2ryhme: 10:55am On Oct 18, 2021
Islie:
.........Self-sufficiency in rice production not realistic in 2022



https://www.newtelegraphng.com/rice-thai-merchants-slam-300m-rates-on-nigerian-importers/
Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by ATEAMS: 10:55am On Oct 18, 2021
Which of us will survive, which of us will survive the other

8 Likes 1 Share

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by Nobody: 10:56am On Oct 18, 2021
I've seen all kinds of monikers in NL...

But e get one wey dey always shock me

The moniker is EKWENSUBBQGRILLS...


I think the Mods gave the guy Life ban grin

The inspiration behind the moniker (the vulture griller) is one of the reasons why The Price of rice is Soaring high... they'll ( the BMCs) see bad thing and still support it because it suits their narrative...

22 Likes

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by Aidejay(m): 10:56am On Oct 18, 2021
torrrrh!

very soon, one bag of rice = 500k

in bull-harri we trust.

1 Like

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by slawormiir: 10:56am On Oct 18, 2021
Damnnn niggar
Isoright
Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by tutudesz: 10:56am On Oct 18, 2021
So all this rice farm up and down dey do watin undecided

2 Likes

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by Maxymilliano(m): 10:56am On Oct 18, 2021
Presently, a bag of foreign rice sells for between N29,000 and N30,000 for the long grain and small grain variety in Nigerian market respectively, while a bag of the local grain is sold between N22,000 and N25,000 depending on the quality.
shocked

And what exactly does Buhari achieved by shutting the borders apart from inflicting more hardship on the citizens

25 Likes

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by gurunlocker: 10:56am On Oct 18, 2021
But I thought Bubu said we are producing enough rice here? grin grin grin


Oh! I forgot his brothers are stopping people from going to farm and getting paid.

12 Likes 1 Share

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by Ayomi90: 10:57am On Oct 18, 2021
22o62021:
Them still dey impor foreign rice come this country
Rice production in Nigeria would have been sufficient ND if not shld be close, but Fulani herdsmen chased farmers out of the farm so what do u expect?

9 Likes 1 Share

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by EjaikreTheViper(f): 10:57am On Oct 18, 2021
It shall never be well with Buhari and his foolish supporters!

Cc:

10 Likes 1 Share

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by Think9ja(m): 10:58am On Oct 18, 2021
Ok
Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by babyfaceafrica: 10:58am On Oct 18, 2021
Then we eat abakalaki eyes or kebbi rice.. Na by force to chop Thai rice
Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by Kondomatic(m): 10:58am On Oct 18, 2021
Mrsoft3:
We need to eat local rice more often, imagine the millons of dollars we are enriching other countries. How will our economy ever grow this way. It saddens me how we Nigerians can't encourage one another to become better and spend this money in the country. Presently there is scarcity of money, the flow is directed to places it is not needed that often.


We need to start buying and producing,this is the only way we can get better. Rome was not built in a day
It's not about telling us what we need to do.

Nigerians eat local rice a lot. Majority of Nigerians eat local rice today, that's for those than can afford good local rice.

When you say "we need to start eating local rice" you give them impression that the whole of Nigeria markets are saturated with local rice that nobody wants to buy.

The price difference between foreign and local is little, our locally produced rice is very expensive and it's getting worse since we prefer we'll fed cows to well fed humans.

23 Likes 1 Share

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by temitope27(m): 10:58am On Oct 18, 2021
No wahala
Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by jibbish(m): 10:58am On Oct 18, 2021
And December still wan detty
Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by CuntDestroyer: 10:58am On Oct 18, 2021
There are currently 500,000 shipping containers moored off the coast of California waiting to discharge their cargo.

500,000 shipping containers! Let that sink.

This huge clog in shipping is due mainly to the outrageous laws passed by the Governor of California that effectively banned most of American trucks from the streets of California citing environmental emissions. The law wants to see zero emmision trucks plying the roads of california. Trucks that don't even exist. So what most trucking companies which are yet to upgrade to the latest 2021 models, is rely on local truckers to lift from the ports and then head down state borders where the trucking companies who are barred from California then take the containers to their final destination elsewhere in the US. The issue here is that there are not just as many compliant trucks in California to maintain this baton system. The current idiot California governor has also banned the use of diesel powered lawn mowers and gardening tools and mandated only electric tools to be used. There is also a law that wants Farmers to stop using diesel tractors. Can you imagine? When you pry deeper, you will see this isn't about saving the enviroment but bankrupting small and medium businesses, destroying the agricultural sector (which the US used in conquering hunger in the first time in human history) towards seeing a total collapse of the US.

Then there was the Evergiven incidence that saw to the Suez Canal being blocked for close to 3weeks. This caused a major clog in shipping as you are aware that the Suez Canal in Egypt is very critical for global trade as it connects Asia to Europe.

Another thing to factor is that there are literally thousands of sailors and crews stranded in ships with no pay from their employer for months.

If you begin to dig into the current chaos surrounding global shipping you have to first know who owns majority and if not all shipping companies.

It comes back to the same people who own virtually all central banks. They not only own the shipping companies but also underwrite their activities.

These very powerful cabal wants to destroy the global economy and they are doing it on a Kinetic scale waging war on every aspect of your life under the guise of Covid and Climate Change.

These same people want to bankrupt global shipping as we know it in place of the CCP Silk road initiative that seeks to connect every part of the world via a single road network.


To understand why this is very crucial to them, by abolishing international shipping in place of their single belt road initiative, they seek to monopolize travel and movement of goods towards maintaining absolute and total control of your right to free movement. Couple that with a single currency and with China as the sole industrial and Military power, the Globalists who created the Red Dragon through the Trilateral Commission are bent on seeing the US economy and society destroyed.


What you are seeing now is the cold phase of World War 3. The same reasons why WW2 was fought, is what is being accelerated and advanced today at breakneck speed - The International Judean's quest to enslave the entire planet as part of their Satanic Racist Ideology as a divine race.

4 Likes 1 Share

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by MondayOsunbor(m): 11:00am On Oct 18, 2021
Islie:
.........Self-sufficiency in rice production not realistic in 2022



https://www.newtelegraphng.com/rice-thai-merchants-slam-300m-rates-on-nigerian-importers/


According to Rice Farmers’ Association of Nigeria (RFAAN), Niger State chapter, some farmers have been dragged to court for defaulting in repayment of loans taken from CBN.

when we know na federal moi-moi why pay back??
Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by einsteine(m): 11:00am On Oct 18, 2021
2 million tonnes is 40 million bags of rice. Nigeria eats a lot of rice and there's no way we can compete with Asian countries on it. The correct thing to do is to focus on crops where we have significant advantage (Sweet potatoes, cassava, Yam, Oil Palm, Rubber, Cocoa) and use it to earn revenue rather than force ourselves to produce substandard rice at high cost while earning illegal millions for customs operators because we have placed an ineffective ban on foreign rice.

But I guess our leaders do not believe in the principle of comparative advantage.

21 Likes 1 Share

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by erniok(m): 11:01am On Oct 18, 2021
Mrsoft3:
We need to eat local rice more often, imagine the millons of dollars we are enriching other countries. How will our economy ever grow this way. It saddens me how we Nigerians can't encourage one another to become better and spend this money in the country. Presently there is scarcity of money, the flow is directed to places it is not needed that often.


We need to start buying and producing,this is the only way we can get better. Rome was not built in a day
The local rice sells almost at par with the foreign one. What happened to the promise that it'd be far cheaper than foreign rice. Bring the price down to what the populace can afford and see reduction for foreign rice. Also note that some of the said stone free rice local rice have little amount of stones in them.

14 Likes 2 Shares

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by Temptee101(m): 11:03am On Oct 18, 2021
gurunlocker:
But I thought Bubu said we are producing enough rice here? grin grin grin


Oh! I forgot his brothers are stopping people from going to farm and getting paid.

Audio production

Farmers are worse off under his regime. They don't even have access to their farms anymore let alone having enough money for improved seedlings.

9 Likes 1 Share

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by Rebuke: 11:03am On Oct 18, 2021
Smh. This mumu government just came and poured suffering on Nigerians for no reason. Now yhu see yhur life outside?

We were enjoying our imported rice jeje o but they said they wanted to encourage local production and started banning everything......without first putting things in order.

Yhur fulani bandits are busy killing farmers that would have at least tried their best in farming and the empty brain government said they are encouraging local production.

Unfortunately, when this brainless government finally allows importation of food items as before, some of those food stuffs will never get back to their old prices as before.


Tell me, when are we going to be buying a bag of rice for 13k again and when is tomatoe paste going to be sold for 30Naira again?

Useless government with useless and wicked policies, damaging our economy.

Posterity will never forgive everyone involved in this government that has made life difficult for Nigerians.

5 Likes 1 Share

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by MrOON: 11:03am On Oct 18, 2021
Ok

1 Like

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by Jeferious: 11:04am On Oct 18, 2021
Omo container freight costs just dey shock and vex me at the same time this year. $15,000 for 40 feet, #3.5M as duty. If person spend more than #11M just on freight and import duty, how much come be the cost of goods wey dey inside the container?

God help importers this year angry

9 Likes 1 Share

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by Bluffly: 11:05am On Oct 18, 2021
Islie:
.........Self-sufficiency in rice production not realistic in 2022



https://www.newtelegraphng.com/rice-thai-merchants-slam-300m-rates-on-nigerian-importers/

If Self sufficiency is unrealistic, how is Thailand meeting up with these request from more than 4 countries

2 Likes

Re: Rice: Thai Merchants Slam $300m Rates On Nigerian Importers by dandig(m): 11:06am On Oct 18, 2021
22o62021:
Them still dey impor foreign rice come this country
See ehn I was shocked on seeing this ..The FG staged a manhunt and closed borders. The FG has been holding on to local contents. Rice was the number 1 case fight....How come we are seeing this news. Haven't we been waiting enough for 2tenures with the hope that we are working on growing and selling only local rice....

1 Like

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