Wed, Oct 22, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Commentaries more

Commodities imports pose problem for ‘destination’ Africa

Posted on 13 November 2013

First, the growth in demand for commodities is because many African governments subsidise basic commodities such as petrol and wheat. Second, a country such as Nigeria produces 2.5m barrels of crude oil per day, consumes 300,000b/d but imports about 80 per cent of its refined products from the commodities trading houses.
Third, until the early 1970s, Nigeria was self-sufficient in rice, but it abandoned production, using petrodollars to buy rice on the international market………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 37583 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
October 2014
S M T W T F S
« Sep    
 1234
567891011
12131415161718
19202122232425
262728293031