Category: Industry

Thailand exporters lose N385.2bn rice market in Nigeria

Stella Okofi

  Thailand exporters have lost 1.2million tonnes of rice valued at N385.2billion ($819.6million) in Nigerian market following import restrictions by the government. The Central Bank of Nigeria (CBN)’s import restriction has boosted local production by 11.2per cent or 600,000 tonnes from 4.8million to 5.4million tonnes in one year. Last month, Thai Rice Exporters Association (TREA), which has also shifted to Benin, Cameroon, South Africa and Angola markets, raised the price of the grain from $678 in August to $683 per tonnes in September, 2020. Data from the United States Department…

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Nigerian traders seek review of Ghana’s retail laws

admin

Nigerian traders in Ghana are calling for a review of Ghana’s trade laws, to complement already existing ECOWAS treaties that permit free trade among African economies. Ghanaweb quoted the President, Association of Nigerian Traders in Ghana, Chief Chukwuemeka Nnaji, as saying that a review of existing trade laws in Ghana could help tone down “unnecessary tensions between foreign and retail traders.” “I’m still surprised that the Ghanaian Parliament has still not amended the laws. Let that law be amended to suit the ECOWAS Trade Treaty. I think we have to…

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