Africa’s rice market is projected to grow from $24 billion in 2024 to $29.2 billion by 2030, according to new estimates from the African Export–Import Bank (Afreximbank).

The bank attributes the growth around 4 percent annually to population expansion, rapid urbanisation, and shifting diets that favour rice as a staple food.

Despite modest production gains, Africa still imports about 40 percent of its rice, making it vulnerable to global supply shocks and currency pressures. Rice output rose from 36.9 million tonnes in 2018 to 39.8 million tonnes in 2022, but demand continues to outpace supply.

Afreximbank urges greater investment in infrastructure, mechanisation, and intra-African trade under the African Continental Free Trade Area (AfCFTA) to strengthen local production and reduce dependence on imports.

“With the right policies and investment, Africa can shift from an import-dependent consumer to a competitive producer,” the bank noted. Visit www.jocomms.com for more news.