Nigeria: Nigeria Officially Lifts Foreign Exchange Dairy Import Restrictions

  |   Attaché Report (GAIN)   |   NI2024-0003
On March 14, the Central Bank of Nigeria (CBN) officially noted the lifting of restrictions on sourcing foreign exchange to import dairy products. Previously, only six designated companies could source foreign exchange from the government to import dairy products. According to the latest CBN circular, all importers are now eligible to source foreign exchange to import dairy products. This circular clarifies the previous announcement in October 2023 which lifted foreign exchange restrictions to import 43 items, including several food and agricultural products. Although domestic dairy product prices remain high and consumption continues, imports may not increase due to soft consumer purchasing power and continued difficulty sourcing foreign exchange.

Related Reports

On April 4, 2024, the Food Safety and Standards Authority of India (FSSAI) published on its website, Order F. No. TIC-B02/2/2022-IMPORTS-FSSAI. The FSSAI order extends the effective implementation date for the mandatory registration of foreign food manufacturing facilities (FFMF) for the import of certain categories of foods such as milk and milk products; meat and meat products including poultry, fish, and their products; egg powder; infant food; and nutraceuticals to India.
Attaché Report (GAIN)

New Zealand: Dairy and Products Semi-annual

New Zealand fluid milk production is forecasted to be 21.2 million metric tons (MMT) in the 2024 market year (MY). This is a decrease on the previous 5-year average of ~21.6 MMT, reflecting the decreasing herd numbers and the short-term effects of the following: El Niño weather pattern, softening revenue, high cost of debt servicing, and challenging feed and fertilizer prices.
Attaché Report (GAIN)

Thailand: Rice Price - Weekly

Rice export prices further increased 2-3 percent mainly due the strengthening of the Thai baht.