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Nigerian rice prices have nearly doubled since July after the country closed its borders, with a 50 kg bag now costing up to 24,000 naira in Lagos. The article notes Nigeria's 2020 rice imports are expected to rise 9%.
Border closures are pushing up domestic rice costs and are expected to lift Nigerian import demand, supporting export interest in rice.
reuters.comLibby GeorgeJan 24, 2020After 168 past bullish policy events, Rough Rice moved a median +0.8% over 5 sessions (57% higher; middle half -1.7% to +2.1%), and -0.4% 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.
