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LequteMan
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Nigeria - The controversy that has trailed the rice import allocations for 2014 notwithstanding, the federal government at the weekend went ahead to review downwards, its import target for the commodity to 1.3 million metric tonnes (MT), ThisDay reports.
According to a letter signed by the Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, addressed to the Co-ordinating Minister of the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, a domestic supply gap of 1.3 million MT was determined for the 2015, down from 1.5 million in 2014.
Meanwhile, one million MT of this quota has been set aside as
allocations to existing rice millers, importers and new investors with approved Domestic Rice Production Plans (DRPP), at a preferential levy of 20 per cent and duty of 10 per cent.
This year’s supply gap was fixed at 200,000 MT lower than that of 2014, as rice importers with no DRPP will probably account for the remaining 300,000 MT at the higher levy of 60 per cent and duty of 10 per cent.
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Source: ThisDay
#Nigeria
According to a letter signed by the Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, addressed to the Co-ordinating Minister of the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, a domestic supply gap of 1.3 million MT was determined for the 2015, down from 1.5 million in 2014.
Meanwhile, one million MT of this quota has been set aside as
allocations to existing rice millers, importers and new investors with approved Domestic Rice Production Plans (DRPP), at a preferential levy of 20 per cent and duty of 10 per cent.
This year’s supply gap was fixed at 200,000 MT lower than that of 2014, as rice importers with no DRPP will probably account for the remaining 300,000 MT at the higher levy of 60 per cent and duty of 10 per cent.
click here to read more
Source: ThisDay
#Nigeria
