Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Economy Macro-Economic News

Sesamum seed, cocoa, cashew nuts top Nigeria’s agricultural exports in Q1 2021

Samuel Oyekanmi by Samuel Oyekanmi
June 18, 2021
in Macro-Economic News, Spotlight
Seasamum Seeds, now number 1 Agric Exports from Nigeria (2017 Q1)

Sesamum Seed

Share on FacebookShare on TwitterShare on Linkedin

Nigeria’s agricultural export stood at N127.2 billion in the first three months (January – March) of 2021. This represents a 128% increase compared to N55.8 billion recorded in the previous quarter (Q4 2020).

Sesame seeds, fermented cocoa beans, and cashew nuts led the list of top agro-food exports in Q1 2021, jointly accounting for 66.5% of the total agric exports.

This is according to the foreign trade report for Q1 2021, released by the National Bureau of Statistics (NBS).

RelatedPosts

Nigerians more financially miserable as Misery Index rises to 62.79% in July 2022

BDC operators urge central bank to abandon offical rate as Naira continues to fall

  • In contrast to the N127.1 billion recorded in the corresponding period of 2020, this represents a 0.07% increase and the highest on our tracker, since Q1 2016.
  • However, as agric export increased in the review period, importation of agricultural items also surged by 140.5% year-on-year, and an 18.4% increase quarter-on-quarter.
  • Although crude oil still accounts for the larger part of Nigeria’s export earnings with 66.38%, agriculture still remains the base of Nigeria’s economy, providing the main source of livelihood for most Nigerians.
  • The sector remains the largest sector of the Nigerian economy and employs about two-thirds of the entire labor force in the country.

READ: Agric import rose to N532.4 billion in Q4 2020, as Asia led Nigeria’s export destination

News continues after this ad


However, expected growth has been significantly impeded by production hurdles despite government interventions in the sector. According to the Food and Agricultural Organisation of the United Nations, over the past 20 years, value-added per capita in agriculture has risen by less than 1% annually.

It is also estimated that Nigeria has lost about $10 billion in annual export opportunities from groundnut, palm oil, cocoa, and cotton alone as a result of the decline in the production of these commodities.

News continues after this ad


It is worth noting that Nigeria exported agricultural products worth N321.5 billion in 2020, representing a 19.16% increase when compared to N269.8 billion recorded in 2019 and a 6.27% increase compared to N302.28 billion recorded in 2018.

READ: Nigeria’s cocoa exports to fall by $100m as prices rise in futures market.

Top Agro export in Q1 2021

  • Sesamum seeds – N41.94 billion

Top on the list is Sesamum seeds with an estimated export value of N41.94 billion in Q1 2021. Sesame seed comes from a flowering plant mostly grown in Northern Nigeria due to the drought-resistant nature of the seed.

It has many uses, but perhaps, its most important use is as a source of sesame oil which is the most demanded vegetable oil in the world because of its zero cholesterol content.

Nigeria has been one of the highest sesame seed-producing countries over the years, making the seed an important component of the country’s agricultural export. Recall that Nigeria exported sesame seeds valued at N98.27 billion in 2020.

READ: Demand surge for ginger raises the commodity’s price by nearly 400%

  • Cocoa beans – N35.49 billion

Cocoa stands second on the list with an export value of N35.49 billion. It is worth noting that this estimate includes good fermented Nigerian cocoa beans and superior quality raw cocoa beans.

Cocoa is a small perennial tree crop that primarily comes from the three tropical regions in the world; Southeast Asia, Latin America, and West Africa. Cote d’Ivoire is the single largest producer of cocoa beans, accounting for approximately 31% of the world’s supply.

  • Cashew nuts – N13.71 billion

Nigeria exported cashew nuts (both in-shell and shelled) valued at N13.71 billion in Q1 2021. Cashew is a tree crop that has been cultivated for food and medicine for many years.

The various parts of the cashew fruits are of economic value, which includes apple, nut, and kernel. The primary product of cashew nuts is the kernel, which is the edible portion of the nut. Kernels are used for various end products, which include chocolates, ice creams, cakes, sweets and even for medicinal purposes.

  • Coconuts – N8.66 billion

Coconut export in the review period stood at N8.66 billion, representing the fourth-highest agro-export. Coconut is a cash crop that is grown in 22 of Nigeria’s 36 states and its production is limited to the south-western part of the country, with Lagos State having the largest production area.

Coconut serves as a raw material for numerous industries, such as pharmaceuticals, cosmetics and food, and beverage, with limitless domestic and export potential; coconut consumption, however, has continued to rise with the growing population, especially dry coconut which is consumed in the northern part of the country.

  • Ginger – N5.57 billion

Ginger stands fifth on the list with an export value of N5.57 for the review period. According to FAO and quoted by the Nigerian Export Promotion Council (NEPC), Nigeria accounts for 40% of the global ginger production, producing almost 523,000 metric tonnes annually.

Bubbling under

  • Sesame oil – N3.42 billion
  • Palm nuts and kernels – N2.75 billion
  • Shea cake – N1.79 billion
  • Soya bean – N1.72 billion
  • Frozen shrimps and prawns – N1.29 billion

What they are saying

Despite agriculture being the major primary occupation of most Nigerians, the country is yet to solidify its position in the world in terms of food production both for local consumption and export.

  • Nigeria still spends more on the importation of agricultural items compared to our export value.
  • A PWC report identified poor transport infrastructure and services (road and rail), particularly in the rural areas as a significant cause of the current state of the agriculture and agribusiness sector.
  • According to Suleiman Dikwa, the CEO of Green Shara Farms, a major problem affecting Nigeria’s agricultural sector is the ability to efficiently deliver locally produced products in the country.
  • “We have to first go beyond production and have an integrated approach through the horizontal value chain whereby any increase in production capacity has a commensurate increase in primary processing, logistics and capacity,” he added.
  • Adequate processing and storage system for these agro products is also a major problem affecting the agricultural value chain, with farmers losing about 40% of their yields to poor storage facilities, according to Mike Elechi, the CEO of Vintage Farm and Products.
  • The Chairman, Governing Council of Nigerian Institute of Transport Technology (NIIT), Mr John Onojeharho also disclosed that Nigeria loses about N3.7 trillion annually due to improper storage of foods. He said this while speaking on the topic: “Cold Chain Logistics” at the 8th Nigeria Annual Transport Lecture.

Related

Tags: Agric exportAgriculturecashew nutCBNcocaCoconutNigerian Economysesamum seeds

Comments 76

  1. Elizabeth Essiene says:
    June 18, 2021 at 5:49 pm

    How about the AGMEISiS loan?

    Reply
    • Inatimi James says:
      June 19, 2021 at 6:11 am

      Dear Applicant,
      You have been pre-qualified for the NYIF loan programme, kindly click on this link to apply.
      https://nyif.nmfb.com.ng/app
      Thank you. I received such message but tried to login I was told my account has not been activated and I did not receive any email on how to activate my account

      Reply
  2. Bolum Maureen says:
    June 18, 2021 at 5:56 pm

    I need a loan

    Reply
  3. Okpebe David says:
    June 18, 2021 at 8:50 pm

    Please I just here about it now please can i still apply now

    Reply
  4. Hayatu says:
    June 19, 2021 at 2:11 am

    I nit long

    Reply
  5. Maxwell uchechukwu says:
    June 19, 2021 at 4:33 am

    I’m interested in exporting agricultural products from to world at large can anyone help me on how to go about it?

    Reply
  6. Anonymous says:
    June 21, 2021 at 12:35 am

    Hello I need loan

    Reply
  7. Ibrahim says:
    June 23, 2021 at 6:13 pm

    I want loan l have many problem please help me

    Reply
  8. Alamin Mohammed says:
    June 23, 2021 at 11:49 pm

    I am agricultural activities products

    Reply
  9. Chisom Uwara says:
    June 24, 2021 at 11:48 am

    Nice one

    Reply
  10. Adamu shehu says:
    June 25, 2021 at 9:07 am

    Plz I do not received my own sir, please help me

    Reply
  11. Yusuf adamu says:
    June 26, 2021 at 12:18 am

    yusufadamu5798@gmail.com

    Reply
  12. Abubakar Aliyu Ampha skk says:
    June 27, 2021 at 12:50 am

    Pls and pls i want to appeal seen last year i never received any alert and than i tried to second one against that’s two time i applied i don’t receive alert pls what happened to me

    Reply
  13. Akinade sulaimon Ayodele says:
    June 27, 2021 at 9:20 am

    Please I want to know maybe my loan as been approved and to check the amount approved to me

    Reply
  14. SulemanHalilu says:
    June 27, 2021 at 12:46 pm

    I need to have this loan to pay my school fees

    Reply
  15. Usman says:
    June 28, 2021 at 2:35 pm

    I need a loan

    Reply
  16. Bawa Muhammad shamsudeen says:
    June 29, 2021 at 4:50 pm

    My loan have not yet approved

    Reply
  17. Al Amin Aliyu says:
    June 30, 2021 at 12:39 am

    Dear sir my name is Al Amin Aliyu I write the message from Gombe, I was apply COVID-19 household loan since last year June 2020 eve I checked my BVN 22272097902 say your not approved please check back later way ? please help me I need to your assistance. thank you thankfully. Al Amin Aliyu.

    Reply
  18. Aishatu muhammad says:
    July 1, 2021 at 3:00 am

    Please and please help me to improve my lawn I’m a business woman and here is my bvn number22526522396

    Reply
  19. George chinonso onuh says:
    July 1, 2021 at 5:20 pm

    Afternoon everyone am George chinonso onuh from Benue state,I have been approved but I am yet to be paid..is over a 2 months and now Please do something

    Reply
  20. Muktar Ahmad says:
    July 3, 2021 at 5:45 pm

    my comment here is I was recieved the Covid19 loan but I don’t know how I shall payback the loan

    Reply
  21. Anonymous says:
    July 3, 2021 at 10:48 pm

    Good night dear covid 19 loan sport team I applied for the loan but I never received anything related to SMS or email

    Reply
  22. Yunusa muhammad says:
    July 4, 2021 at 3:44 pm

    You help me I need money becouse I want businesses

    Reply
  23. Yusuf adamu mapthree says:
    July 7, 2021 at 11:13 pm

    I apply covid 19 by micro finace bank,but upto know I can’t see my alert pls,be considered me tnku.

    Reply
  24. Ayeni kayode says:
    July 9, 2021 at 8:58 pm

    Please help me I need loan

    Reply
  25. Olorunfemi yetunde Deborah says:
    July 9, 2021 at 9:04 pm

    I apply for covid 19 loan please give me 2190276162 U B A

    Reply
  26. Lukman says:
    July 9, 2021 at 11:25 pm

    Hello sir my name is lukman pls sir how can I confirm if my loan is approved

    Reply
  27. Auwal Mohammed says:
    July 10, 2021 at 8:17 am

    I want know if my covid-19 approved

    Reply
  28. Sallau Muhammad says:
    July 10, 2021 at 3:58 pm

    Dear Sir my name is sallau Muhammad I was applied a covid19 since 2019 I was not get it yet my BVN is 22460450528 sir recheck it back I need your assistance, thank you sir.

    Reply
  29. Grace James says:
    July 12, 2021 at 12:44 pm

    My name is Grace James I applied for the covid 19 loan since last year and I have not received any response from them I want to know the challenges.

    Reply
    • My name is Umar Mohammed says:
      July 17, 2021 at 10:45 pm

      Dear Sir my name is Umar Mohammed I was applied a covid 19 loan sir I need your assistance thank you sir.

      Reply
  30. Fatima ali says:
    July 14, 2021 at 7:17 am

    hello sir I am Fatima Ali isa how can I confirm my loan is approved.

    Reply
  31. Suleiman says:
    July 14, 2021 at 11:22 am

    Mokwa cafan

    Reply
  32. Ibrahim Bilyaminu says:
    July 19, 2021 at 1:26 pm

    I am steel waiting for payment, i apply since last year but up to now nothing enter my account.

    Reply
    • Haruna umar says:
      August 1, 2021 at 11:49 pm

      Hello sir iam haruna umar please sir help my to comfirm my my loan approved

      Reply
  33. ZAkariya abdullahi idrismail.com says:
    July 21, 2021 at 12:15 pm

    Sir l applyed for the covid 19 since 2020 but am yet to have it

    Reply
  34. Yakuba abdullahi says:
    July 23, 2021 at 2:29 am

    Slam

    Reply
  35. Hassantaris says:
    July 23, 2021 at 5:58 pm

    Hello sir please why my status is having failure have been approved but they said compliance status failure

    Reply
  36. Oche Ademu Samuel says:
    July 26, 2021 at 1:55 pm

    Please sir we that applied since March some have received their own but am yet to see my own,when are my going to get my own

    Reply
  37. iorlaha msughter Isaac says:
    July 31, 2021 at 8:29 pm

    i need loan for agriculture

    Reply
  38. Arabo says:
    September 5, 2021 at 2:10 pm

    Ahmadu

    Reply
  39. Muhammad nafsu zakiyya says:
    September 5, 2021 at 2:19 pm

    I want to know

    Reply
  40. Abdullahi adam says:
    September 9, 2021 at 9:34 am

    I need loan for agricultura

    Reply
  41. Abdullahi mahammed atiyaye says:
    September 10, 2021 at 8:03 am

    I appreciate.

    Reply
  42. Yusuf mansur Adam says:
    September 13, 2021 at 6:11 pm

    I’m very appreciate this how we needs Nigerian leaders to be may god help them ameen

    Reply
  43. Saka fatai olabanjo says:
    September 15, 2021 at 10:39 pm

    Never see my own

    Reply
  44. Gbeinbo IKIYE says:
    September 15, 2021 at 11:34 pm

    I want to check my status to look if it is still working.

    Reply
  45. ABUBAKAR ABUBAKAR says:
    September 16, 2021 at 9:09 pm

    When they will start disbursement

    Reply
  46. yakubu suleiman says:
    September 19, 2021 at 4:48 am

    I have applied this lorn for several times.but now wht ever I put my bvn it’s showing me.invlet bvn pls wht is the prblm pls help me with this lorn this my number 07031908548

    Reply
  47. Bello sunusi says:
    September 21, 2021 at 7:49 am

    I applied two times sir. pls help me sir to get my own approve

    Reply
  48. Mohammed dauda wakili says:
    September 24, 2021 at 4:22 pm

    Business man

    Reply
  49. Abubakar Haruna says:
    September 25, 2021 at 12:07 pm

    Please and please help

    Reply
  50. Abubakar Haruna says:
    September 25, 2021 at 12:08 pm

    Please and please help me

    Reply
  51. ALI HUSSAINI says:
    September 30, 2021 at 12:03 am

    Waiting I even do that from January till now people are their loans and I can not received my own till now why why Nigeria my country?

    Reply
  52. Michael Micah says:
    October 3, 2021 at 11:03 am

    Since last year up to now no apruvel please help me to feed my family ??

    Reply
  53. Rabiu Bala says:
    October 3, 2021 at 9:14 pm

    Am Applying in 2020 @ 2021 but I’m not received your message please and please I nick your help

    Reply
  54. Mansir Bello says:
    October 5, 2021 at 6:16 am

    IAM aproup to show my money lam. Waiting anytime

    Reply
  55. Abubakar ishaku yakubu says:
    October 6, 2021 at 12:13 am

    Gishuwa dabuwa

    Reply
  56. ishaq uske says:
    October 11, 2021 at 4:32 pm

    i done see the offer leeter what next pls….

    Reply
  57. Ajayi Mary c says:
    October 18, 2021 at 9:08 am

    I apply for the, but I have not been given ,why?

    Reply
  58. Ajayi Mary c says:
    October 18, 2021 at 9:09 am

    I apply for the loan

    Reply
  59. Sanusi Abubakar says:
    October 29, 2021 at 6:24 pm

    Please sir I am not reserved my approved

    Reply
  60. Mukhtar says:
    November 4, 2021 at 10:36 am

    Pls and pls I so many need of that money help

    Reply
  61. Basiru aliyu says:
    November 9, 2021 at 8:08 pm

    I apply for this loan still now didn’t see
    loan sir

    Reply
  62. Ibrahim Salisu says:
    November 10, 2021 at 12:32 pm

    I’m still waiting.to approve my nirsal

    Reply
  63. Rosemary ene ogboji says:
    November 26, 2021 at 1:36 pm

    Please I have not received my covid 19 loan

    Reply
  64. Yanoko says:
    November 27, 2021 at 3:06 am

    I’m still waiting.to approve my nirsal

    Reply

    Reply
  65. Abubakar Umar Aliyu says:
    December 1, 2021 at 10:22 pm

    Good day mama I have been covid 19 loan please help us

    Reply
  66. Umo Stella Okon says:
    December 3, 2021 at 8:44 pm

    Please have been approved by covid 19 household, have put my bank details and up till now have not received any alert.my bank name first bank, account number 3140646639

    Reply
  67. Fatima kabir says:
    December 14, 2021 at 3:09 pm

    please my issue is that i have been verified but till know no any gist, please help. May God help us ameen

    Reply
  68. Aliyu Ibrahim says:
    February 5, 2022 at 2:44 am

    Pls my country I need help

    Reply
  69. Mohammad al.amin ibrahim says:
    April 13, 2022 at 11:33 pm

    Heip to start business

    Reply
  70. LubabatuDanbaba says:
    April 23, 2022 at 6:10 am

    Pls pls give me l want to pay my school fees

    Reply
  71. Eremi bassey eremi says:
    May 17, 2022 at 6:00 pm

    Please I apply since last year and even try it again but there told me my bvn has oredy exist pls how am I going to check if the loan was approved or denied pls I need help pls

    Reply
  72. Karaji kaka modu says:
    May 27, 2022 at 10:41 pm

    I was filled covid 19 loan,couldn’t get it still Iam waiting thanks you sir

    Reply
  73. Amobi Christana says:
    May 30, 2022 at 2:58 pm

    My household loan has been approved since October 30 till now I can’t asses it is in my Nirsal account still can’t be withdraw pls help me

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • A peep into Pension Funds Administrators’ portfolio (Year-to-date)
    • Wike denies taking Atiku, Tambuwal to court
    • Why Naira is heading towards N700/$ again

    Follow us on social media:

    Recent News

    Nigerian Pension Fund Index post double digit gains for 2021, beat inflation

    A peep into Pension Funds Administrators’ portfolio (Year-to-date)

    August 12, 2022
    Rivers State seizes oil production site owned by Shell over oil spills

    Wike denies taking Atiku, Tambuwal to court

    August 12, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com