NOVEMBER 17, 2023

Nigeria Set to Become World's Largest Rice Importer in 2024, Importing 2.1 Million Metric Tons, Reports USDA

In a remarkable shift in the global agricultural landscape, Nigeria is on track to become the world's leading rice importer by 2024, as per the U.S. Department of Agriculture's (USDA) latest Rice Outlook report. This development places Nigeria at the centre of a global rice trade projected to reach around 52.85 million tons, signaling a significant opportunity for rice exporters, particularly from Asia and other continents.

The forecasted import of 2.1 million metric tons by Nigeria underscores the country's growing appetite for rice, presenting a lucrative market for international suppliers. This burgeoning demand positions Nigeria as a key player in the West African food and beverage market, offering a fertile ground for exporters looking to expand their reach.

The Food and Beverage West Africa Exhibition a leading industry event, is set to become a crucial platform for global and Asian rice exporters aiming to penetrate the West African market. FAB offers a unique opportunity for exhibitors to showcase their products, engage with a wide range of buyers, and capitalise on Nigeria's increasing rice demand.

FAB is expected to attract a diverse array of participants from across the globe, including importers, distributors, and key decision-makers, making it an ideal venue for networking and business expansion. The recent policy changes by the Central Bank of Nigeria, which have made the market more accessible to foreign rice, further enhance the potential for international suppliers.

This shift in Nigeria's rice import strategy opens new avenues for exporters from Asia and other regions, who are now looking at West Africa as a promising destination for their products. The Food and Beverage West Africa Expo serves as a gateway for these exporters to explore and establish their presence in this dynamic market.

As Nigeria's role as a top rice importer evolves, the opportunities presented at the Food and Beverage West Africa Expo are set to be a pivotal factor in the growth and diversification of the global rice trade. This event marks an important step in connecting Asian and global rice suppliers with the expanding West African market.


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