Afreximbank Forecasts Africa's Rice Market to Reach $29.2 Billion by 2030, Despite Import Reliance
Afreximbank forecasts Africa's rice market to grow from $24 billion in 2024 to $29.2 billion by 2030, reflecting a 4% compound annual growth rate. Despite progress in local rice production, Africa continues to heavily depend on imports to meet rising consumption needs.
Countries like Nigeria, Mali, and Guinea lead in rice imports, with efforts to boost local output through initiatives like the Anchor Borrowers Program. Africa remains a net importer of rice, relying on major exporters like India, Thailand, and Vietnam.
The continent faces challenges in achieving self-sufficiency in rice production, impacting competitiveness and food security.
Plus234Feed summary based on reporting from NairaMetrics. Read the original report below.
Read full article
Continue on NairaMetrics
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Afreximbank Targets $40 Billion to Boost Intra-African Trade and AfCFTA Implementation
Afreximbank Aims for $250bn Balance Sheet Growth in 10 Years, Focuses on Intra-African Trade and Value Addition
Afreximbank Assets Grow to $40 Billion as New President Takes Over, Emphasizing Economic Development
Afreximbank Urges Scaling Factoring Volumes to €240 Billion to Boost African SMEs
Afreximbank to Support Dangote in $5 Billion Refinery Expansion
Afreximbank's 9M'25 Report Shows Strong Liquidity and Financial Resilience
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
