• Thursday, July 18, 2024
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Sesame tops agric export in Q1 – NBS

Sesame tops agric export in Q1 – NBS

Sesame seeds topped Nigeria’s agricultural exports in the first quarter of 2024, increasing by 123 percent compared to the corresponding quarter of 2023.

Agric exports in Nigeria jumped in Q1 2024 to N1.04 trillion from N463.97 billion accrued in the fourth quarter of 2024.

Similarly, the agric sector grew 270 percent year-on-year compared to its N279.64 billion cumulated in the same period of 2023.

This was revealed in the National Bureau of Statistics (NBS) foreign trade in goods statistics report.

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According to the NBS, the surge was majorly driven by an increased need for sesame seeds and cocoa (standard & superior quality) in Asia, China, Europe, and Japan.

Nigeria exported sesame seeds to the tune of N247.75 billion in the period under review, indicating a surge of 99 percent from the fourth quarter of 2023.

The total value of the commodity exported in the full year of 2023 (253.7 billion) is two percent above its Q1 2024 value.

According to the Nigerian Export Commodity Council, China, Japan and Turkey are the strongest markets for the country’s sesame seeds. Also, data from FAO shows that Nigeria produced an average of 509,712 metric tonnes (MT) of the crop in 2022.

Nigeria ranks fourth in the production of the grain and it is mainly grown in northern states – Jigawa, Nasarawa, Gombe, and Sokoto.

Exports of the commodity contributed 1.3 percent, while agriculture contributed 5.4 percent to the total exports of N19.17 trillion in the period under review.

Sesame seeds and cocoa (superior and standard quality) topped agric exports in Q1 2024, accruing a combined export value of N618.69 billion, while other cocoa beans not specified accrued N13.12 billion.

“Export of agricultural products was dominated by sesamum seeds valued at N247.75 billion, superior quality cocoa beans, with N230.85 billion and standard quality cocoa beans with N140.09 billion,” the NBS said.

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Additionally, sesame seeds worth N83.29 billion and N58.04 billion were exported to China and Japan, respectively, while superior quality cocoa beans, worth N112.00 billion and N48.28 billion were exported to the Netherlands and Malaysia, respectively.

The report further said standard quality cocoa beans worth N58.29 billion and N37.77 billion were exported to the Netherlands and Malaysia, respectively.

Other agricultural commodities exported in Q1 2024 were soya beans (seeds and excluding seeds) to the tune of N130.01 billion, cashew nuts (in shells/shelled) with N86.75 billion, ginger (crushed & grounded) with N4.49 billion, and other frozen shrimps and prawns, among others with N33.72 billion.