Nigeria’s border closure is hitting hard on India, Thailand others

The rice exporting countries are heavily reliant on the Nigerian market

Reports say the wholesale price of top exporting countries fell on product glut resulting from a decline in exports

A report by Business Day indicates that the closure of Nigeria’s land borders aimed at curbing smuggling activities, especially of rice, has taken a toll on rice-exporting countries. According to the report, the price of the commodity dipped by a joint 46 percent in one month in countries like Thailand and India. President Muhammadu Buhari had on Wednesday, August 21, ordered the closure of the Seme border.

Between that period and September, the wholesale price of the broken parboiled rice, the species in top exporting countries fell on product glut resulting from a decline in exports. In India, the wholesale price dropped from $0.64/kg in August to $0.40/kg as at 30 September of this year. In Thailand, the price of the commodity declined by 9.2 percent in the review period. Data from both Thailand and India, which previously accounted for up to 90 percent of Nigeria’s rice imports, show legal imports to the country have declined at the same time. Meanwhile, there are fears that Nigerians may buy a 50kg bag of rice for as high as N50,000 in December 2019 if the land borders remain shut by the federal government. Already, the price of rice by 86% to an all-time high of N27,000 per 50kg from N14,500, an indication that local rice farmers do not currently have the capacity to meet local demand in the country.

Read more: https://www.legit.ng/1263787-nigerias-border-closure-hits-hard-india-thailand-others.html

Don't forget to add Nigeria too

And ordinary Ghana dey here dey insult us.

odave:
Don't forget to add Nigeria too

it only hits hard on the smugglers in Nigeria. Genuine investors are smiling to the banks

Afamed:

it only hits hard on the smugglers in Nigeria. Genuine investors are smiling to the banks

No one is disputing that fact. What I mean is the Nigerian comsumers. The government did the right but it's hitting hard on us consumers too. No need to pretend here. I will miss those rice

Are you sure

Ok

so this country is this powerful

odave:


No one is disputing that fact. What I mean is the Nigerian comsumers. The government did the right but it's hitting hard on us consumers too. No need to pretend here. I will miss those rice

My brother no pain no gain. If ordinary foods items( Rice and Chicken) at this 21century, we are still relying on importation, then I think our existence as a nation is threaten.

Afamed:

My brother no pain no gain. If ordinary foods items( Rice and Chicken) at this 21century, we are still relying on importation, then I think our existence as a nation is threaten.

Abeg what's so difficult for Nigeria farmers to get a better seed from wherever they can, plant here, parboil and give us good rice? Everything na rocket science for naija.

Imagine using local rice to make fried rice, lol

Now I can understand why Thailand was asking us a few days ago to open our borders.

I thought geography has changed and Nigeria is now sharing borders with Thailand and India.

My understanding of map reading in secondary school days is still valid.

NIGERIA!!!

#borderclosure it's the best policy Buhari regime has made so far..... Nigeria can't be a dumping ground for all. Na south Africa I dy wait for to start complain that one go sweet me die

Even God knows the local farmer won't meet demands.

Big countries adopted this measure before they became strong Nations
Let us make sacrifices now and build our nation and stop lamenting
Buhari is right this time
Let the idiotic, hypocritical Igbos keep lamenting
Nigeria must get better

Meanwhile, there are fears that Nigerians may buy a 50kg bag of rice for as high as N50,000 in December 2019 if the land borders remain shut by the federal government. Already, the price of rice by 86% to an all-time high of N27,000 per 50kg from N14,500, an indication that local rice farmers do not currently have the capacity to meet local demand in the country.

Local man is tayed.

Osinachi1:
We're global now

Sincerely, we do not know our worth.

So the latest news is that our border closure is creating a global butterfly effect.

Asian countries are now being hit hard.

India?

Thailand?

If we're buying so much rice, what percentage of the rice we're consuming are we really producing locally?

And this news they sweet my belle, one of the time u are proud to be a nigerian.

God bless Nigeria

Halla Nigeria

[color=#990000][/color]Carry go Hamidu Ali never open d border till eternity

A bag of imported Rice sells for 15k and local rice sells for 12k before the border closure ..After the closure the local rice the poor masses are meant to buy sell for as high 18k and the imported now sales for 25k..Please what is the gain of the Poor Masses in the border closure

i love you buhari,infact if you were still young i wouldn't mind giving you ma daughter to marry.you are the best president in the history of Nigeria,i pray that your heart may be harden like that of pharaoh.AMEN

To me this is one of the good policy this government has ever implemented!!!

wwwihy:
Nigeria’s border closure is hitting hard on India, Thailand others

The rice exporting countries are heavily reliant on the Nigerian market

Reports say the wholesale price of top exporting countries fell on product glut resulting from a decline in exports

A report by Business Day indicates that the closure of Nigeria’s land borders aimed at curbing smuggling activities, especially of rice, has taken a toll on rice-exporting countries. According to the report, the price of the commodity dipped by a joint 46 percent in one month in countries like Thailand and India. President Muhammadu Buhari had on Wednesday, August 21, ordered the closure of the Seme border.

Between that period and September, the wholesale price of the broken parboiled rice, the species in top exporting countries fell on product glut resulting from a decline in exports. In India, the wholesale price dropped from $0.64/kg in August to $0.40/kg as at 30 September of this year. In Thailand, the price of the commodity declined by 9.2 percent in the review period. Data from both Thailand and India, which previously accounted for up to 90 percent of Nigeria’s rice imports, show legal imports to the country have declined at the same time. Meanwhile, there are fears that Nigerians may buy a 50kg bag of rice for as high as N50,000 in December 2019 if the land borders remain shut by the federal government. Already, the price of rice by 86% to an all-time high of N27,000 per 50kg from N14,500, an indication that local rice farmers do not currently have the capacity to meet local demand in the country.

Read more: https://www.legit.ng/1263787-nigerias-border-closure-hits-hard-india-thailand-others.html

Added a little scaremongering at the end. 50000 kó 1 million ni. The border is shut, and it shall remain shut by God's grace!

It is not rocket science. Nigeria is a big market cause of her population.