The leading global source of critical information and insight, IHS Inc has analyzed that the GDP of Africa has curbed this year as a result of Ebola outbreak in 2014 in Guinea, Sierra Leone and Liberia .The data reveals that the Africa rice production will almost increased by 50% by 2031 as Africa will expands its rice production area by 2031.
Main points contributing for Africa Rice production growth
The demand from the Asian countries specially from China for the rice is also increasing.
India has lost his crown of top rice exporter for 2015-15 to Thailand.
Africa’s rice export to have also contributed to the world’s long-term import growth.
Africa has shown rapid expansion growth in rice production area in terms of percentage. Across sub-Saharan Africa many countries have developed there agriculture sector to provide employment opportunities, reduce poverty, to diversify their economy from excessive dependency on mining sub-sector.
Karanta Kalley, chief economist for Africa at HIS said that everyone put a question mark on the growth of sub-Saharan Africa, after the impact of Ebola outbreak.
Ebola outbreak has affected the economic growth in the African areas like in Guinea, Sierra Leone and Liberia in 2014 which has affected the GDP) growth in these areas.
The HIS GDP growth rate forecast has been cut down to between one-half and nine-tenths of previous forecasts. Sierra Leone’s have highest growth rate of 3.1 percent followed Guinea at 2.0 percent with lowest of 0.8 percent for Liberia’s economy.
Kalley said that public awareness facilities in Lagos are better than in the Sierra Leone-Guinea-Liberia triangle, so chances that Nigeria can restrict its outbreak.
Due to the recent data criteria change, prospects for Nigeria’s real economic growth for the rest of 2014 are bright even after agricultural growth in the sector has decreased the Nigerian economy to 22% from 35%.
Asian demand drives global rice growth in 2014/15; Africa drives long-term growth.
World rice demand for 2014-15 has forecasted as to rise to 478 million metric ton which is above a 4.4-million-metric-ton from previous year. For 2015-16, it is expected at 483 million metric tons above 4.5 million metric tons from previous year.
World rice yields in 2014/15 are expected to soften year over year to 2.96 metric tons per hectare, but world production is projected to increase by a little over one million metric tons.