How India’s rice ban impacts global rice market?

India's recent ban on the export of non-basmati rice has sent shockwaves through the global food market, triggering fears of further inflation. Richard Ogundele, the Chief Executive Officer of JMSF Agribusiness Nigeria, discussed the implications of this ban and how Nigeria can potentially ramp up rice production in a recent interview with CNBC Africa. Ogundele highlighted the challenges posed by India's decision to halt non-basmati rice exports. He noted that India's control of approximately 40 percent of the global rice export market meant that many countries reliant on Indian rice faced significant shortages. Coupled with Russia's exit from the Black Sea Green Deal, which disrupted grain transportation from Ukraine, the global food market is facing unprecedented challenges. Turning the focus to Nigeria, Ogundele outlined a series of issues affecting rice production in the country. He emphasized declining productivity, rising production costs, and security concerns due to insurgency activities in key rice-producing regions. The northwestern states of Kebi, Sokoto, Kano, Jigawa, Kaduna, and Niger in the north-central region collectively account for 72 percent of Nigeria's rice output. However, these areas heavily rely on rain-fed agriculture, making them vulnerable to weather-related disruptions like flooding. Discussing the impact of climate issues on rice farming, Ogundele expressed concerns about the lack of significant preventive measures following previous flooding incidents. He pointed out infrastructural challenges, including blocked drainage systems and inadequate flood control mechanisms, exacerbating the risks faced by Nigerian farmers. Ogundele underscored the need for proactive strategies to mitigate the impact of floods on rice cultivation. In terms of ramping up rice production in Nigeria, Ogundele stressed the importance of expanding agricultural land. He recommended cultivating an additional two million hectares of land to achieve self-sufficiency in rice production. Despite Nigeria's status as the largest rice producer in West Africa, it remains the largest rice importer globally, underscoring the need for enhanced domestic production capacities. Ogundele referenced recent initiatives like the inauguration of the Malta rice mill and the unveiling of rice pyramids in Abuja as positive steps towards boosting rice production. However, he cautioned that ongoing insecurity, particularly in key agricultural regions, posed a significant challenge to achieving the desired production targets. The CEO highlighted the critical role of addressing security issues and improving operational efficiency in the rice value chain to enhance Nigeria's self-sufficiency in rice production. Wrapping up the discussion, Ogundele emphasized the need for holistic strategies to address the multifaceted challenges facing Nigeria's rice industry. He urged the government and relevant stakeholders to prioritize security, infrastructure development, and investment in agricultural technologies to unlock the country's agricultural potential and reduce dependency on rice imports. As global food markets navigate the repercussions of India's export ban and evolving climate risks, stakeholders in Nigeria's agricultural sector are grappling with the imperative to revitalize rice production and ensure food security for the nation's growing population. The road to self-sufficiency in rice production requires concerted efforts to overcome existing hurdles and capitalize on emerging opportunities for sustainable agricultural growth.