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Nigeria is projected to import more corn and wheat in the MY 2025/26 due to a more stable foreign exchange rate, improved consumer purchasing power, and lower global grain prices, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. Wheat imports are estimated at 6.7 mln tons, up
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from 6.25 mln tons last year. A temporary zero-duty import policy in 2024 made wheat more affordable and accessible in early 2025, boosting profit margins for many businesses, the FAS noted. A significant portion of Nigerian wheat millers prefer hard wheat flour, with about 70% of wheat flour used for bread production and the remainder for cakes, biscuits, and pastries. Bread demand remains steady despite price fluctuations, with noodles being the second most in-demand product, according to the FAS. The European Union holds a 45% share of Nigeria’s wheat import market. From January to June 2025, US wheat exports to Nigeria surged by 246%, reaching $139.5 million, compared to $40.3 million in the same period of 2024. The FAS attributes this rebound to competitive US pricing, a stable exchange rate, and an improved macroeconomic environment in Nigeria. Corn imports are projected to reach 0.26 mln tons, up from 0.125 mln tons in 2024-25, driven by a stabilizing exchange rate and ...
Source: UkrAgroConsult
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