Efforts to foster sustainable rice production gain traction in nigeria.

Ram Gopal Yadav (7 years ago)

To help meet national demand of around 5.2m tonnes in 2016, Nigeria imported 2.3m tonnes of rice last year, according to the UNs Food and Agricultural Organisation (FAO). This heavy reliance on external sources has seen Nigeria – currently the world second-largest importer of the grain after China – import around 17m tonnes of rice in the last five years, with the country spending an average of $5m per day on shipments of the grain, Audu Ogbeh, minister of agriculture and rural development, told international media earlier this year.

Iran Likely to Produce 22.5 MMT of Rice in 2017.

Ram Gopal Yadav (7 years ago)

Iran is likely to produce 22.5 MMT of rice in 2017 compared to 21 MMT in 2016. For meeting its additional requirements of Basmati rice Iran depends on imports. The increase in production over the years is continuously reducing its dependency on imports. Iran imported 14.40 LMT in 2013-14, 9.66 LMT in 2014-15, 6.95 LMT in 2015-16 and 5.50 LMT during the first ten months of 2016-17 (April 2016 to January 2017) from India. It is estimated that in fiscal year 2016-17 Iran is likely to import 6.50 LMT of basmati rice from India. Therefore, Iran demand of basmati rice is likely to fall in coming year because increase in production.

ICE raw sugar up 1% due to lower output in Brazil.

Ram Gopal Yadav (7 years ago)

Futures contracts of raw sugar on the ICE rose over 1% due to a decline in production in Brazil Centre-South region in the first half of April. The contracts had declined to a 12-month low last week. the July contract was up 1.1% from the previous close. Mills in Brazil Centre-South region produced 704,000 tonne of sugar during the first fortnight of April, down 51% from a year ago. The sharp fall in sugar output could be attributed to lower grinding and a reduction observed in the production mix.