As the global price of soybeans surges from $550 to $1,060 per tonne in one year, Nigeria is expected to earn $1.38 billion from the export of 1.3 million tonnes to China, India and Pakistan before the end of the year.
Although, local millers have complained that the massive export of the cereal forced the price to increase from $632 to $745 in 2024 as exporters mopped and competed for global market.
With soybean production struggling to meet rising local and international demands, it was gathered that Nigeria's soybeans had about 45 per cent protein, making it one of the best quality meals across Asian countries.
Read more at Newtelegraphng
Although, local millers have complained that the massive export of the cereal forced the price to increase from $632 to $745 in 2024 as exporters mopped and competed for global market.
With soybean production struggling to meet rising local and international demands, it was gathered that Nigeria's soybeans had about 45 per cent protein, making it one of the best quality meals across Asian countries.
Read more at Newtelegraphng