Price of Rice skyrockets in international market

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The partial border closure by the Nigerian government has put the last laugh on the faces of rice farmers as the price of rice in the international market has skyrocketed due to Coronavirus pandemic.
Recent media reports reveal that the rise in prices is due to expectations of higher demand for Thai rice after top rice exporters like India and Vietnam both face export disruptions of the strategic staple food.
Rice-producing nations like Thailand, India and Vietnam are stockpiling agricultural commodities, which translates to tremendous advantage to Nigerian rice farmers as the commodities may likely not get to Nigeria through import apart from the fact that efforts are on to meet the increasing demand for the staple in the country.
It is on record that Asia produces 90% of the world’s rice supply and consumes the same amount. In a chat with the Economic Confidential on this development, the National Chairman of Rice Processors Association of Nigeria, Alhaji Mohammed Abubakar Maifata said the rice farmers and millers and other processors have been vindicated and that all they told the government has come to pass.
When contacted, the spokesperson of the Nigeria Customs Service, Joseph Attah, said for now the borders are closed and rice seizures have continued unabated for smugglers of the commodity.
Attah further urged major stakeholders to join in the campaign against the deadly activities of smugglers through advocacy and sensitizations that will lead to attitudinal changes on the part of the smugglers.

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