Nigeria’s Rice Imports Drops By 300,000 Metric Tons

Posted by Adaora Anozie

On August 27, 2016

The research by the United States Department of Agriculture (USDA) has revealed that the importation of rice from the United States to Nigeria has dropped by 300,000 metric tons in the last six months.
According to the report, Nigeria’s rice imports dropped by 300,000 tons due to government policy to limit the commodity importation between January and June, 2016 on prospects for a larger crop.
Nigeria, the world’s second largest rice import market, accounts for the largest share of the decline in the global rice trade since the beginning of the year. And as the largest grower of rice in West Africa region, Nigeria is projected to harvest 2.7 million tons of rice in 2016/17, according to USDA.
The USDA report revealed that foreign rice consumption is expected to decline in 2016/17 in China and Nigeria. It noted imports by Nigeria would fall 17 per cent in 2016, due to the recent increase in import tariffs, declining oil revenues, and foreign exchange restrictions.