Cote d’ Ivoire Rice production expected to rise

A new analysis on the global outlook for rice production and demand, released earlier this month by HIS, has revealed that between 2014 and 2031, Africa will expand its rice production area by almost 50% percent. HIS is an international global source of critical information.
“Africa’s rapid expansion of areas for rice production will be the fastest globally, in percentage terms. Cote d’Ivoire intends on spending $4 billion on agriculture development in order to improve crop yields and, in four years, become a rice exporter,” said Karanta Kalley, chief economist for Africa at IHS.
However, economic development, particularly in West Africa, is currently questionable. “Right now, the question on everyone’s mind is what impact of ebola will have on the economic growth of sub-Saharan Africa,” Kalley said.
IHS expects gross domestic product (GDP) growth to be lowered significantly for 2014 in Guinea, Sierra Leone and Liberia as a result of the ongoing ebola outbreak.
The IHS confirmed GDP growth rate forecasts have been cut by between one-half and nine-tenths of previous forecasts. Sierra Leone’s economy is projected to have the highest rate of growth at 3.1% in 2014, followed by Guinea at 2%. IHS foresees only a marginal real economic growth rate of 0.8% for Liberia’s economy in 2014.