Despite import restriction, Lagos Port terminals have taken delivery of 492,022 metric tonnes of raw sugar valued at N171 billion ($290.29 million) in the last four and half months from Brazil, China, Turkey, France, Ukraine and other countries. Last year, following high demand for industrial and domestic use of the commodity, Nigeria imported $889.74 million raw sugar from Brazil, while other countries supplied $97.38 million of the commodity as the country’s projection to meet 800,000 tonnes target of raw sugar production by 2022 failed.
Findings revealed that the latest imports were the 25.5 per cent of 1.93 million tonnes ordered by importers for 2022 as the global price of the commodity reached $540 per tonne as at May this year.
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News Archive from before July 2018