{"id":16302,"date":"2017-10-09T11:08:49","date_gmt":"2017-10-09T11:08:49","guid":{"rendered":"http:\/\/newsroom247.com.ng\/?p=16302"},"modified":"2017-10-09T11:11:53","modified_gmt":"2017-10-09T11:11:53","slug":"thailand-rice-exporters-going-out-of-business-as-nigeria-cuts-rice-import-by-2-77m-metric-tons","status":"publish","type":"post","link":"http:\/\/newsroom247.com.ng\/?p=16302","title":{"rendered":"THAILAND RICE EXPORTERS GOING OUT OF BUSINESS AS NIGERIA CUTS RICE IMPORT BY 2.77M METRIC TONS"},"content":{"rendered":"<p><code><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- www.deltanewsroom.com --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-2163942495525027\" data-ad-slot=\"1411897411\" data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/code><\/p>\n<p style=\"text-align: left;\">Nigeria has cut rice importation by 2.77 million metric tons valued at N420 billion ($1.17 billion) since the beginning of the year.<br \/>\nIt was learnt that the latest record by the country has affected Thailand rice adversely, as unsold stocks are piling up daily.<br \/>\nThailand Rice Exporters Association (TREA) has said that if the situation persists, some exporters would go out of business.<\/p>\n<p style=\"text-align: left;\">The association\u2019s President, Chookiat Ophaswongse said: \u201cWe are already losing our market share in the world to our competitors. If the situation continues like this, you will see a lot of exporters gone out of business.\u201d<br \/>\nHe explained that Nigeria, Iraq, Indonesia, Ivory Coast and South Africa were Thailand\u2019s top customers.<\/p>\n<div class=\"pQNOc0Yo\" style=\"text-align: left;\"><\/div>\n<p style=\"text-align: left;\">Meanwhile, it was learnt that local production has reached 56.6 per cent of the total domestic consumption of 4.9 million tons valued at N742.6 billion ($2.06 billion).<br \/>\nThe figure is, however, less than the 88.4 per cent record being bandied by the Minister of Agriculture and Rural Development, Chief Audu Ogbeh.<br \/>\nRecords by the United States Department of Agriculture (USDA) also revealed that importation of the grain has waned from 4.9 million tons valued at N333.4 billion ($926.2 million) to 2.2 million (44.89 per cent) from January, 2017 till date. (newtelegraphonline.com)<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.alternativeadvert.com\/show.php?z=30&amp;pl=14655&amp;ad_type=59&amp;rl=180\" width=\"300\" height=\"250\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p style=\"text-align: left;\">Despite the progress, Nigeria is still the world\u2019s second largest rice import market and the largest grower of rice in West Africa as at 2017.<br \/>\nIn 2015, rice production in the country stood at 2.2 million tons; 2016, 2.2 million tons and 2017, 2.77million tons<br \/>\nA few days ago, the minister told the Nigeria Agricultural Joint Sector Review in Abuja that rice importation had plunged from 500,000 metric tons in 2015 to 58,000 metric tons in 2016.<br \/>\nHowever, statistics by USDA revealed that the country imported 2.1million tons of the grain between 2015 and 2016, contrary to the minister\u2019s 580,000 tons in 2015 and 58,000 in 2016.<\/p>\n<p style=\"text-align: left;\">Already, the Nigeria Customs Service (NCS) has said that some rice valued at N597.7 billion entered the country through the land borders between January and August, 2016.<br \/>\nIn 2014, the country took delivery of 3.5 million metric tons, 2015, 2.6 million metric tons and 2016, 2.2 mllion metric tons from Thailand, United States and Vietnam.<\/p>\n<p style=\"text-align: left;\">Nevertheless, it was learnt that a large percentage of the commodity could not reach the country through the land border because of the NCS\u2019s policy restricting its import through the land border.<br \/>\nIt would be recalled that in 2016, CBN complained that the amount spent between January 2012 and May, 2015 on rice importation had resulted in huge unsold stock of paddy rice cultivated by Nigerian farmers and low operating capacities of many integrated rice mills in Nigeria.<br \/>\nLast week, the Federal Government has said that the country would experience self-sufficiency in rice production by November, 2017<br \/>\nOgbeh also said that price of the grain would fall before the end of the year to N6,000 per bag.<\/p>\n<p style=\"text-align: left;\"><a href=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/10\/RICE.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-16303\" src=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/10\/RICE-300x300.jpg\" alt=\"\" width=\"300\" height=\"300\" srcset=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/10\/RICE-300x300.jpg 300w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/10\/RICE-150x150.jpg 150w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/10\/RICE-768x768.jpg 768w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/10\/RICE-80x80.jpg 80w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/10\/RICE-40x40.jpg 40w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/10\/RICE-64x64.jpg 64w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/10\/RICE-75x75.jpg 75w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/10\/RICE.jpg 960w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nigeria has cut rice importation by 2.77 million metric tons valued at N420 billion ($1.17 billion) since the beginning of the year. It was learnt that the latest record by the country has affected Thailand rice adversely, as unsold stocks are piling up daily. Thailand Rice Exporters Association (TREA) has said that if the situation [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":16303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"ngg_post_thumbnail":0,"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[1,23],"tags":[2011,4195,4196],"class_list":["post-16302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-international-news","tag-audu-ogbeh","tag-chookiat-ophaswongse","tag-thailand-rice-exporters-association"],"jetpack_featured_media_url":"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/10\/RICE.jpg","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4oswh-4eW","_links":{"self":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/16302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16302"}],"version-history":[{"count":2,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/16302\/revisions"}],"predecessor-version":[{"id":16305,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/16302\/revisions\/16305"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/media\/16303"}],"wp:attachment":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16302"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}