# A growing problem: Nigerian rice farmers fall short after borders close

> 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%.

- Date: 2020-01-24 · published 2020-01-24T12:00:00.000Z
- Category: policy · region Nigeria · magnitude low
- Page: https://feedsoft.ai/events/55156-a-growing-problem-nigerian-rice-farmers-fall-short-after-borders-close
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

Border closures are pushing up domestic rice costs and are expected to lift Nigerian import demand, supporting export interest in rice.

## Read by commodity

- RICE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2018-08-28 | [High rice prices a win for farmers – Piñol](https://feedsoft.ai/events/63601-high-rice-prices-a-win-for-farmers-pinol.md) | +3.2% | -6.0% |
| RICE | 2018-07-11 | [Centre raises buying price, rice exports set to fall from October](https://feedsoft.ai/events/63990-centre-raises-buying-price-rice-exports-set-to-fall-from-october.md) | +1.7% | -7.6% |
| RICE | 2022-06-06 | [Exclusive: Panicked traders step up forward Indian rice purchases after wheat export ban \| Reuters](https://feedsoft.ai/events/40903-exclusive-panicked-traders-step-up-forward-indian-rice-purchases-after-wheat.md) | -3.2% | -5.7% |
| RICE | 2020-10-02 | [Spoiling Rice Shows Perils of Protectionism \| Feed & Grain](https://feedsoft.ai/events/50693-spoiling-rice-shows-perils-of-protectionism-feed-and-grain.md) | +1.2% | -0.3% |
| RICE | 2022-07-06 | [Fall in wheat, rice, sugar production should not detract from goal of cropping and dietary diversification \| The Indian Express](https://feedsoft.ai/events/40463-fall-in-wheat-rice-sugar-production-should-not-detract-from-goal-of-cropping.md) | +2.4% | +6.0% |

## Sources

- reuters.com: https://www.reuters.com/article/business/a-growing-problem-nigerian-rice-farmers-fall-short-after-borders-close-idUSKBN1ZM104/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.