3 Rice Imports In Nigeria Set To Soar To Global Heights In 2024, Projected Among The Highest Worldwide

1. Rice Imports In Nigeria Set To Soar To Global Heights In 2024, Projected Rice Imports In Nigeria Set To Soar To Global Heights In 2024, Projected Among The Highest Worldwide Among The Highest Worldwide A recent report stated that Nigeria is anticipated to become one of the world's top importers of rice, bringing in 2.1 million metric tonnes of the grain in 2024. Tradologie.com is an Indian company operating globally that actively seeks to connect top rice suppliers from various rice exporting nations, including top rice exporters in Vietnam, top rice exporters in Thailand, top rice exporters in India, and many more, with bulk rice buyers in Africa / bulk rice buyers in Nigeria. At the same time, the company fully facilitates the operations for a seamless process to buy rice in bulk. Import Forecasts For Nigeria Import Forecasts For Nigeria According to the US Department of Agriculture's Economic Research Service's Rice Outlook report, Indonesia is expected to import 2.0 million metric tonnes of rice, which is also a record amount. The most populous country in Africa, Nigeria, had its import forecasts increased because of the country's higher-than-expected demand for rice as a result of rising domestic prices and quality issues, the report stated. According to a report by the US Department of Agriculture, Burkina Faso is one of the African nations whose imports are predicted to rise dramatically to 525,000 tonnes next year as a result of lower domestic production. According to the report, 52.85 million tonnes of rice will be traded globally in calendar year 2024.

2. Inflation In Nigeria Inflation In Nigeria According to the National Bureau of Statistics of Nigeria, October saw an increase in annual inflation from 26.72% in September to 27.33%. This information was released on Wednesday. October also saw a sharp increase in food inflation to 31.52% from 23.72% during the same period in the previous year. Following the removal of a fuel subsidy and the lifting of exchange controls by President Bola Tinubu in June, inflation has reached a 20-year high and the value of the local currency, the naira, has declined by more than 40%. If you are a rice importer wishing to buy rice in bulk or a rice exporter willing to export bulk rice, then Tradologie.com is the right platform for you. Tradologie.com is a next-generation Saas platform that facilitates bulk agro-trade across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities at negotiable rates. The transaction oriented platform has 600,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 150 countries. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.