• Wednesday, April 24, 2024
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Six products that pushed agric exports to record high

Nigeria’s Agric export hits highest in Q1, here are the top products

Nigeria exported agro-food items worth N201.6 billion in the first quarter of 2022, representing a 58percent increase compared to N127.3 billion recorded in the corresponding period of 2021. This is also the highest on record, according to data tracked from the National Bureau of Statistics (NBS).

NBS data also showed Nigeria’s agricultural sector accounted for 4.96 percent of Nigeria’s total foreign trade in Q1 2022.

Similarly, the sector accounted for 7.51 percent of total imports amounting to N443.36 billion, a 29.6 percent decline from N630.18 billion in the period under review.

These are the top agricultural products exported to other countries.

 

Read also:World food safety day: Is our food safe?

Superior quality cocoa beans

According to the NBS report, the value of superior quality Cocoa beans in Q1 2022 stood at N72.59 billion, accounting for 1.02 percent 0f total exports in the country.

The agricultural product contributed 11.26 percent to total agricultural products traded and accounted for 36 percent of agricultural exports during the quarter.

Sesamum seeds

Nigeria exported sesamum seeds to the tune of N56.45 billion in the first quarter of 2022. This accounted for 0.79 percent of the share of total exports within the period.

Sesamum seeds accounted for 8.75 percent of the share of total agricultural products traded in the country, and 28 percent of the share of total agricultural exports in the first quarter of 2022.

Standard quality cocoa beans

The total value of standard quality cocoa beans exported to Germany, Malaysia, Netherlands, Indonesia, and Belgium, amounted to N13.21 billion in the first three months of 2022.

The exported product accounted for 0.19 percent of the total exports in the country. In the same vein, the agricultural product accounted for 2.05 percent of the total agricultural products traded during the quarter.

Standard quality cocoa contributed 6.55 percent to the total value of agricultural goods exported out of the country.

Cashew nuts in shell

In the first quarter of 2022, Nigeria exported cashew nuts in shells amounting to N12.42 billion to Vietnam, India, the United States, South Africa, and Kuwait. This accounted for 0.17 percent of the total exports in the country during the period.

Cashew nuts in shell exports contributed 6.16 percent to the total value of agricultural goods exported out of the country. In the same vein, the agricultural product accounted for 1.93 percent of the value of total trade in agricultural goods during the period.

 

Desiccated Coconuts

Desiccated coconuts amounting to N9.30 billion were exported to Vietnam and India during the first three months of 2022. The total value represents a 0.13 percent share of total exports during the period.

 

The agricultural product contributed 1.44 percent to the value of total trade in agricultural goods in the first quarter of 2022. Similarly, desiccated coconuts accounted for 4.61 percent of agricultural goods exported during the period.