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Nigeria’s farmers are abandoning rice for other, more profitable crops as global glut and higher imports squeeze their profits. The global rice market glut is fuelled by an Asian market oversupply, which has forced its producers to seek new markets or consolidate existing ones in Africa. The Asian glut, in combination with tariff removal by the Nigerian government, has driven rice imports into Nigeria to a 10-year high, thereby reducing farmers’ earnings. Nigeria imported 60,735

Source : businessday