Nigeria to import N319.8bn raw sugar from Brazil

Nigeria to import N319.8bn raw sugar from Brazil

Nigeria to import N319.8bn raw sugar from Brazil   There are indications that Brazil would supply 80 per cent or 1.44million tonnes of raw sugar valued at N319.85 billion ($680.55million) to Nigeria in 2021. Nigeria is currently battling with sugar production deficit of 1.81million tonnes valued at $850.7 million as global price surges to $407 per metric tonnes. Brazil’s production has already increased by more than 44.2 per cent to meet demand from Nigerian and other buyers. It was gathered that high sugar price in 2021 would further encourage producers…

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