As food consumption is on the increase, pasta and noodles producers have imported a total of 840,000 tons of wheat valued at N193.2billion ($420million) this year. The imports account for 15 per cent of the 5.6million tonnes of wheat expected to be imported in 2020 as plans by the Federal Government to reduce wheat imports by 50 per cent failed. According to the United State Department of Agriculture (USDA), wheat consumption in the country has reached 5.26 million metric tonnes between 2019/20, up nearly four per cent or 200,000 tonnes higher than the 2018/19.
The organisation attributed the surge in imports to increase in food, seed and industrial (FSI) usage, noting that the bulk of Nigeria’s wheat imports destined for milling and production were sourced from Russia, the United States, Canada and Australia. Also, USDA explained the country has spent $1.2billion in 2016; $1.5billion in 2017 and 2018, $1.65billion, making the country one of the top buyers of Hard Red Winter (HRW) and Soft Red Winter (SRW) wheat the global market…
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News Archive from before July 2018