Cashew, Sesame Seed, Cocoa Top Agric Export In Q2

September 14, 2018

 

Cashew nuts in shell, Sesame seeds whether broken or not broken, Superior quality raw cocoa beans, goods fermented Nigerian Cocoa beans and other frozen shrimps and prawns are top agricultural products that led in the agricultural export for Q2 according to report released by the National Bureau of Statistics (NBS) for the second quarter in 2018.

 

Other top products in the agric export include; quality raw cocoa beans, soyabean seed, ginger, natural cocoa butter, agro food items, cashew nut shelled, crude palm kernel oil, soya beans (excluding seed), other coconuts fried or dried whether or not shelled or peeled among others.

 

The report also revealed that Cashew nuts accounted for N38.4 billion, Sesame seeds accounted for N19.4 billion, Raw Cocoa beans accounted for N6.8 billion, Fermented cocoa beans N4.6 billion, Frozen Shrimps and Prawns N3.1 billion. Specifically, N26.6 billion worth of cashew nuts were exported to Vietnam, N10.01 billion to India and N665.1 million to United Arab Emirates (UAE).

 

Sesame seeds were mainly exported to Turkey N4.7 billion, Japan N4.1 billion and China N3.3 billion.

 

Other major agricultural products include; superior quality raw cocoa beans which were exported to Malaysia N472.9 million and Netherlands N3.1 billion and Frozen shrimp and prawns which were mainly exported to The Netherlands N1.9 billion and USA N511.4 million.

 

The report also revealed that the total trade of agricultural goods in Q2 stood at N310.4 billion (4.72 per cent of total trade), in which exports and imports recorded N85.9 billion (1.92 per cent of total exports) and N224.5 billion (10.66 per cent of total imports) respectively.

 

Exports of agricultural products in the second quarter grew strongly by 17.3per cent compared to N73.2 billion recorded in Q1 2018, while imports in the reviewing quarter increased by 21.7 per cent compared to N224.50 billion recorded in the previous quarter.

 

Also, agricultural products in the quarter under review were mainly exported to Asia N64.6 billion and Europe N15.3 billion.

 

The export value for Agricultural goods in Q2, 2018 N85.90 billion was 17.3 per cent higher than the value in Q1, 2018 N73.24 billion and 127.3 per cent higher than the value recorded in Q2, 2017 N37.79 billion.

 

However in terms of import, Agricultural products with a total value of N224.5 billion were imported into Nigeria in the quarter under review, which was an increase of 21.7 per cent compared to N184.4 billion imported in first quarter of 2018 and lower by -3.14 per cent from Q2, 2017 N231.80 billion.

 

Major imported agricultural products in Q2, 2018 according to the report include; durum wheat not in seeds from Canada, Russia, Australia with values of N15.1 billion, N23.5 billion, N14.3 billion, respectively and durum wheat in seeds from Russia N14.3 billion, United States N12.9 billion and Canada N6.1 billion.

 

Other agricultural products such as Blue Whitings from Netherlands’ N7.1 billion, Russia N4.7 billion, and Faroe Islands N3.4 billion; Mackerel were imported from Japan, Chile and the Netherlands which were valued at N3.8 billion, N1.9 billion, N1.8 billion respectively.

 

The value of imported agricultural goods in the second quarter of 2018 (N224.52 billion) increased by 21.7 per cent from Q1, 2018 (N184.49 billion) and lower by -3.14 per cent from Q2, 2017 (N231.80 billion).

 

Furthermore in the quarter under review Nigeria’s major mode of transporting its goods for international trade was by water. Transport of goods by water accounted for N4, 426.7 billion or 99.2 per cent of total exports.

 

Goods exported by road accounted for N15.0 billion, goods transported by Air accounted for N11 billion, while all other means of transport not specified accounted for N10.5 billion of total exports.

 

Also in terms of importing goods into the Country, the Sea continued to be the major mode of transportation as it contributed N2, 019.8billion or 95.9 per cent of total imports.

 

Road transport accounted for N12.3 billion and Air transport accounted for N74.5 billion.

 

The leading port of operation during the quarter was Apapa port which accounted for N4, 298.6 billion or 96.3 per cent of total export, followed by Tin-can through which goods worth N73 billion were shipped to other countries.

 

In terms of imports, Apapa Port still remained the leading Port of operation with transactions valued at N1, 078.0 billion or 51.2 per cent, followed by Tin-Can Island which accounted for 460.8billion or 21.9 per cent.

 

Tola Faseru, National President National Cashew Association of Nigeria (NCAN) while reacting to this in a telephone interview with DAILY INDEPENDENT,  said that it shows how far cashew can go in the achievement of the government effort in the diversification of the economy away from oil.

 

He added that the potential for growth for increase in production is very much there, and that for the commodity to be the number one contributor in the non-oil export, it shows there is great potential for the commodity.

 

Faseru also stated that processing capacity is also key  at the moment that if a lot of focus can be put on the commodity; government giving more enablement for increase production; having more plantation and creating enabling environment for plantation, provide input, land clearing and funding channel to aide exporter to do forward integration to processing.

 

“It will be very good if we are processing what we are producing here; that will mean a lot more than 10 times what we are earning if we are doing value addition, all of this will require properly marshaled plans and great collaboration between the government and the private sector,” he added.

 

Mutairu Mamudu, National President of Sesame Farmers Association of Nigeria, while responding, noted “that the government is not in any way supporting sesame seed that all what is been done is done solely by the farmers”.

 

He said that sesame has lots of potentials that it has both commercial and medicinal value and oil extracted from the seeds is better than every other seed oil.

 

Mamudu also lamented that presently the country is still not exploring the full potential of sesame while urging government to beam its searchlight on this crop and give it the best attention it deserves, while calling on the federal government to give adequate support and encourage more investment in the value chain of the crop.

 

Source: https://independent.ng/cashew-sesame-seed-cocoa-top-agric-export-in-q2/