Global rice prices rose to a 15-year high in August, as top exporter India banned some overseas sales of the grain.…CONTINUE READING
The Food and Agriculture Organization (FAO) in a report on Friday said it’s rice price index rose 9.8% in August from July, to its highest level since July 2008…..CONTINUE READING
The index tracks the prices of rice in major export markets.
The FAO said the rise in rice prices was driven by uncertainty about the duration of India’s export ban, as well as concerns about other export restrictions.
India announced the ban in July, citing concerns about rising domestic prices. The ban affects non-basmati white rice, which accounts for around a quarter of India’s total rice exports.
The FAO said the ban was likely to have a “significant impact” on global rice trade and prices.
Nigeria is a major importer of rice, and the rising global prices are likely to put further pressure on prices in the country.
Recall that in 2015, the Central Bank of Nigeria (CBN) stopped the importers of rice and 41 other items from accessing foreign exchange at the official window in order to encourage local production.
The Federal Government also banned rice imports across land borders and kept 70 per cent tariffs on imports coming through ports.
In line with these interventions, there was an increase in the local production of rice. However, it seems the increase will continue, with the global price increasing.
new month wishes to my love…..CONTINUE READING
South African lady and HIV coach shares how she got the virus at 17 from sleeping with a married celebrity
Chief Justice dismisses judge for having affair with petitioner in a divorce case, causing her arrest
U.S. Secret Service tracks Nigerian ‘yahoo boy’ over fraud scheme, confiscates Binance account with over $2.5 million
Portable set to buy a new house as British rapper, Skepta gifts him cash in Pounds
Niger Republic Revokes EU Security Accord, Courts Russia
“Nigerians can’t tell me they are poor” — Kenyan lady says after seeing amount of tomatoes Nigerians use to make stew
5 Ways UK Visa Policy Changes ‘ll Affect Students, Professionals
Buhari’s Ex-Aide Kicks After APC Senator Alleged That Former President Destroyed Economy
Stop accepting money or gifts from a man if you don’t want to have anything to do with him – Man tells Nigerian girls
chief of staff to LAGOS Gov. wins award
Supreme Court strikes out Ihedioha’s suit against Uzodimma
Labour Party Expels Governorship Candidate
Female Customs Officer Travels 12 African Countries on Motorcycle
I visited my dying boyfriend at the hospital only to meet the shock of my life
“You’re responsible for your hunger”: Man refuses to pay for food after lady
I’m In My Soft Girl Era – Ubi Franklin’s Babymama, Sandra Iheuwa Reveals
Alabama Cop Suspended Over Tasering Crying Black Man
Emefiele to seek N300m bail variation
Thief Trapped In Window frame In Machinga (Watch Video)
Mother confesses to be in a romantic relationship with her son (Watch Video)
AVOID Ginger If You Have THESE Health Problems!
Top 10 largest states in Nigeria by land mass: List with details
It is unfortunate, painful – What Tinubu said about the death of 150 civilians in Tudun Biri
Reasons Why You Should Never Date a Single Mother and Marry Her
2 Robbers Nabbed For Burgling Redeemed Church & Carting Away Multi-Million Naira Musical Equipment
Fear Grips Imo Govt Officials, As Security Personnel Go After Appointees Over Shady Deals
Meet Obaseki’s Preferred Successor As Next Gov Of Edo State
Man nabbed for allegedly stealing handbag in a church in Anambra state
NLC, FG To Negotiate Minimum Wage on Cost of Living
Documents Expose How Ailing Ondo Governor, Akeredolu’s Aides, Family Members Forged His Signature
Police Bust Robbery Syndicate Led By Lady, Who Specialized In Vehicle Snatching
Sophie Anderson dead updates — Adult film star dies aged 36 just days after tragic loss of boyfriend Oliver Spedding
Lawless Anambra: Tragic end for two brothers
Nobody has monopoly over Benue – Alia warns meddlesome interlopers
Senator Ekwunife Describes Report Linking Her With Gov. Uzodinma & Ihedioha As Unfounded, Wicked & Malicious
“19 years gone”: Stella Damasus remembers 1st hubby, pens emotional message
Again, Lagos Leads FAAC Allocations in First Eight Months of 2023
“I can’t eat this”– Regina Daniels shares special food her 3-year-old son Munir demands every morning
FG stops 2,000 workers’ November salaries over IPPIS irregularities
Nkechi Blessing showers love on young lover as he bags political appointment
Health3 months ago
Cancer Of The Stomach Kills, Stop Eating These 4 Foods
Health4 months ago
Soak Onions in Warm Water And Drink it For 3 Days And Thank Me Later
Relationship3 months ago
If you do these things she will never stop thinking about you
Lifestyle4 months ago
Men, If You want to Enjoy Your Marriage, Never Marry a Woman With These 6 Qualities
Lifestyle3 months ago
White Spots On Legs: What Causes Them And How To Get Rid Of Them
Lifestyle4 months ago
Signs That Show Infection Is Growing In Your Pènis
Lifestyle4 months ago
Vegetables You Should Consume Frequently As You Grow Older To Reduce Skin Aging
Latest News4 months ago
BREAKING: CBN Sends Message to Nigerians over New Policy on Dollar to Naira Exchange