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.