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Kebbi State in Nigeria has expanded rice cultivation with government support in financing and farm inputs, following a federal plan for rice self-sufficiency. The state government committed N4 billion to help farmers move into commercial farming.
The article reports the programme has created jobs and attracted investment.
Import substitution by Nigeria, Africa's largest rice consumer, would reduce demand for imported rice from India, Thailand and Brazil. This is mildly bearish for world rice prices over time.
blueprint.ngAdmin IIIFeb 24, 2018After 100 past bearish policy events, RICE moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.6%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
