Nigeria may overtake all other countries as the world’s largest rice consumer in 2024 if it imports 2.1 million metric tons of rice.
According to the latest information from the Rice Outlook report by the Economic Research Service of the U.S. Department of Agriculture (USDA), the world’s largest rice trade is expected to reach about 52.85 million tons (on a milled basis) by 2024, with more exports expected from Brazil and South Korea and more imports expected from other countries like Burkina Faso, Indonesia, and Nigeria.
“International rice trade is expected to reach 52.85 million tons (milled basis) in 2024, up 345,000 tons from the previous estimate but 460,000 tons less than the 53.3 million tons revised forecast made a year earlier. Brazil and South Korea are expected to increase their exports, while Burkina Faso, Indonesia, and Nigeria are expected to increase their imports, with Indonesia increasing its import forecast by 600,000 tons to 2.0 million tons.” The report stated:
