Rice farmers in Nigeria are expected to commence exportation of rice by 2019 when the local consumption would have been met.
Country Manager, Afex Commodities Exchange Nigeria, Ayodeji Balogun, who revealed this, said local farmers in the country would in three years commence exportation of rice.
Balogun who made this known during a briefing yesterday in Abuja said the organisation in partnership with the Federal Ministry of Agriculture and Rural Development has initiated a system that would link rural farmers directly to both local and international markets.
According to him, about 45,000 farmers have been provided with secured storage facilities and an Electronic Warehouse Receipt System to provide sufficient grains for local consumption and enhance export opportunities.
He explained that there were 15 warehouses across the country in which farmers in 30 kilometres radius can access these facilities.
Balogun added: “The news is that farmers can now guarantee their price at the end of harvests. Maize prize as at today is 80 per cent higher than the price last year. Last year, it was N36, 000 but today it is N55, 000. This is because the big companies that would have imported maize from Argentina and Brazil into the country are now forced to buy at the local market. They cannot import anymore because of the exchange rate.”
