Home Business US agency: Nigeria to emerge world’s second largest rice importer in 2019
US agency: Nigeria to emerge world’s second largest rice importer in 2019

US agency: Nigeria to emerge world’s second largest rice importer in 2019

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According to US Department of Agriculture report, Nigeria to emerge the world’s second-biggest rice importer after China, with a projected 13 per cent jump next year to 3.4 million metric tons,

“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,” reports Bloomberg.

There are reports that production had increased more than 50 per cent since 2012 to 3.7 million tons last year. Domestic demand rose 4 per cent to 6.7 million tons in the 2017-18 year that ended in May.

Minister of Agriculture and Rural Development, Audu Ogbeh, had earlier warned that Nigeria may face shortages in the supply of rice, due to the flood that ravaged the country recently.

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.

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