Rice 12.1% more pricey
Local rice inflation in August jumped significantly by 12.1%, compared to a deflation rate of 2.6% recorded in August 2022, according to the Namibia Statistics Agency (NSA).
Fin24 reported that world rice prices jumped 9.8% in August, bucking decreases in other staples.
The world’s largest exporter of rice, India, banned the overseas sale of non-basmati rice. India accounts for 40% of global rice exports.
Statistics provided by the Namibia Statistics Agency indicated that India was Namibia’s second largest import market in 2022.
South Africa is Namibia’s top import market for rice. Similarly, India is South Africa’s second largest supplier of rice, Fin24 reported.
According to the data, 13 233 001 kg of rice worth N$160.8 million was imported from South Africa in 2022.
In addition, 10 905 455 kg of the commodity valued at N$99.7 million was sourced from India last year.
Lastly, rice imports from Japan accounted 3 086 611 kg in 2022, valued at N$40 [email protected]
Fin24 reported that world rice prices jumped 9.8% in August, bucking decreases in other staples.
The world’s largest exporter of rice, India, banned the overseas sale of non-basmati rice. India accounts for 40% of global rice exports.
Statistics provided by the Namibia Statistics Agency indicated that India was Namibia’s second largest import market in 2022.
South Africa is Namibia’s top import market for rice. Similarly, India is South Africa’s second largest supplier of rice, Fin24 reported.
According to the data, 13 233 001 kg of rice worth N$160.8 million was imported from South Africa in 2022.
In addition, 10 905 455 kg of the commodity valued at N$99.7 million was sourced from India last year.
Lastly, rice imports from Japan accounted 3 086 611 kg in 2022, valued at N$40 [email protected]
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