Nigeria imports N42.3bn wheat in 1 month as U.S. raise price

20.06.2018

Importers are to pay N42.3 billion ($115.7 million) this month on 275,924 tons of wheat, as United States has doubled price of the grain.
 
The United States Department of Agriculture (USDA) has said this month that the costs of wheat production had increased price to $420 per ton.
 
It was gathered that high input costs such as quality seeds and fertilizers were responsible for the increase in price.
 
This year, Nigeria is expected to spend N831.6 billion ($2.3 billion) on importation of 5.5 million tons of wheat, an increase of 5.77 per cent from the 5.2 million tons imported in 2017.
 
Expected this month at Tincan Ports from two vessels is 44,980 metric tons of the grain.
 
 
At the JosepDam terminal of the port, HTC Charle and Maina would deliver 22,860 tons and 42,720 tons respectively.
 
Also, four vessels with 159,934tons have been moored to offload the grain at Lagos Port. They include Thor Monadic with 30,000 tons; Night Hawk, 47,800 tons; Desert Oasis, 49,140 tons and Desert Spring 32,994 tons.
 
In addition, Rivers Port will receive 14,436 tons from MV Crux, while African Joseph will discharge 9,574 tons at Delta Port.
 
Desert Hope and TR Crown will discharge 15,400 tons and 11,000 at Calabar Port respectively.
 
It was learnt that Borno State, which contributes approximately 30 per cent of Nigeria’s total wheat output, is currently facing threats of Boko Haram and herdsmen insurgencies in the area.
 
It would be recalled that in the middle of last January, seven vessels arrived three ports with 212,425 tons of wheat as production went down to 60,000 tons in 2017.
 
The country took delivery of 1.77 million tons or N163 billion ($804.6 million) of the grain between 2015 and 2017 from United States alone.
 
At the Lagos Port Complex, Greenview Development Nigerian Limited (GDNL) terminal, Kiana and Genco Rhone berthed with 29,700 tons and 42,000 tons of wheat respectively.
 
Also, at the Apapa Bulk Terminal Limited (ABTL) of the port complex, two ships discharged 82,000 tons from Desert Osprey with 42,000 tons and Atlantic Eagle, 40,000 tons.
 
Also, Karteria and Wide Rose arrived JosepDam at Tincan Island Port with 20,200 tons and 22,525 tons respectively, while Desert Calm offloaded 16,000 tons at Calabar Port.
 
Meanwhile, plans by the Federal Government to cut importation of wheat by 50 per cent since 2017 have been defeated as local production dwindles continuously.
 
In 2017, the country imported 4.5 million metric tons of the grain valued at $2.05 billion.
 
Government had said that it would increase national production from 300,000 metric tons to about 1.5 million metric tons per annum by 2017 and generate one million jobs in the rural areas.
 
Currently, Nigeria can only meet two per cent of the national demand as wheat growers had fled their farms due to the activities of Boko Haram in the northern part of the country.


newtelegraphonline.com

Readers choice: TOP-5 articles of the month by UkrAgroConsult