Nigerian Farmers Reveals How Much It Cost To Import Bag Of Rice From India (See Price)

The President of the All Farmers Association of Nigeria (AFAN), Kabir Ibrahim, has revealed that imported rice from India carries a landing cost of $58 per bag.

Ibrahim, during a recent conversation with The PUNCH in Lagos, mentioned that local rice is more affordable due to the country’s high exchange rate.

The AFAN president pointed out that importing rice into Nigeria using foreign exchange is not cost-effective, especially considering the competitive pricing of rice from India, with a landing cost of $58 per 50kg bag.

When factoring in the current exchange rate, the cost exceeds ₦60,000 per bag in Lagos alone, making it challenging to compete with locally produced rice once distribution and transportation expenses are included.

“It is not competitive for you to use forex to buy anything and bring it to Nigeria. The cheapest rice in the world comes from India; the landing cost of one bag of 50kg of rice is $58 from India. When you calculate that with the current exchange rate, you will see that the landing cost is above ₦60,000 per bag of rice; that is to Lagos.

“So, when you start distributing with the local transport and all that, you cannot compete with what is sold in Nigeria,” the AFAN president noted.

Ibrahim, also serving as the President of Nigeria Agribusiness Group, noted that the expense of importing maize from Brazil surpasses that of obtaining it domestically.

He emphasized yellow corn from Brazil as the most affordable option, mentioning his past experience importing maize from Brazil due to its shorter two-week voyage compared to the six-week journey from the United States.

However, despite the geographical proximity, the current landing costs render imported maize economically uncompetitive against locally sourced alternatives.

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