Nigeria Traded N262b Agricultural Goods in Q2 2017—Minister

By Modupe Gbadeyanka

Minister of Agriculture and Rural Development, Mr Audu Ogbeh, has revealed that the total value agricultural goods’ traded by Nigeria in the second quarter of 2017 stood at N261.9 billion.

According to him, this represented 4.60 percent of total trade in the period under review, 1.03 percent lower than N30.02 billion recorded in the in the first quarter.

Speaking recently, the Minister further said in the period under review, agriculture exports was 0.96 percent of total exports, while the destination of agriculture exports from the country were Asia (66.38 percent); Europe (24.98 percent); Americas 4.37 percent; Africa 3.88 percent; and the Oceanic 0.39 percent.

He added that agriculture exports in Q2 were driven by the export of cashew nuts worth N13.5 billion or 45.4 percent of the total agriculture exports and 1.37 percent of total exports.

Specifically, he said cashew nuts export to Vietnam was N12.16 billion; N1.4 billion to India and N6.34 million to Kazakhstan.

Mr Ogbeh noted that sesame seed exports in Q2 stood at N7.0 billion or 23.6 percent of total agriculture exports.

According to him, sesame seeds export to Japan was N1.3 billion; India N0.9 billion; Turkey N0.9 billion; South Korea N0.8 billion; and China N0.6 billion.

He also said frozen shrimps and prawns’ export was N1.6billion or 9.6 percent of total agriculture exports: Netherlands N1.5 billion; Belgium N0.67 billion; United States N0.22 billion; France N0.17 billion; and Spain N87 million.

The Minister pointed out that exports of soya bean flour and meals were N2.3 billion (7.8 percent of agricultural exports): N2.1 billion to Spain; N116.6 million to Ghana; N72.9 million to Senegal; N18.1 million to Mauritania; and N2 million to Germany.

He said other agricultural exports: Ginger N663.7 million; flowers N568.5 million; Peanut kernels and other groundnuts N481.3 million; and Milk and cream powder N282.4million.