Closed borders: Prices of rice crashes 46% in Thailand, India

... Niger Republic bans rice export to Nigeria




The price of rice has reduced by about 46 per cent in rice exporting countries like Thailand and India since Nigeria closed its borders. This is as neighboring Niger Republic has banned the importation of rice into Nigeria.

The closure of Nigeria’s land borders is particularly aimed at curbing smuggling activities, especially of rice, after the country had invested huge amount in local production of the staple food.

The move had taken a toll on rice-exporting countries. The price of the commodity dipped by a joint 46 per cent in one month in countries like Thailand and India.

Between August 21 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, 2019.

Following the closure of Nigeria’s land borders, Niger Republic has banned the exportation of rice to Nigeria .

The Nigerian Custom Service (NCS) comptroller general, Hameed Ali, said the federal government will continue to engage Nigeria’s neighbours to agree to comply with ECOWAS protocol on transit.

Nigeria’s borders in four geopolitical zones across the country have been closed since August 20 Following the closure of Nigeria’s land borders, Niger Republic has banned the exportation of rice to Nigeria.

The development was made public by the comptroller general of the Nigeria Customs Service, Hameed Ali, during a joint press briefing this week.

Ali disclosed that as a result of the closure, Niger Republic recently banned the export of rice to Nigeria.

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