Agric Exports: Farmers Earned N73.24bn In 3Months

The sum of N73.24bn was earned by farmers in the country between January and March this year through the export of agricultural products.

Figures obtained from the National Bureau of Statistics on Wednesday showed that the agricultural export value of N73.24bn was N28.54bn or 63.84 per cent higher than the N44.7bn recorded in the fourth quarter of 2017.

When compared with the corresponding first quarter 2017 figure of N59.06bn, the N73.24bn was 24.01 per cent higher than the export of agricultural goods recorded during the period.

Some of the exported products, according to findings, are sesame seed, with a value of N26.65bn; raw cocoa beans estimated at N6.03bn; fermented cocoa beans, N23.29bn; cashew nuts, N5.03bn; and soya beans, N3.45bn.

Others are frozen shrimps and prawn, N1.72bn; flour meals of soya bean, N1.12bn; ginger, N942.38m; flower buds, N432.44m; fat and oil of cocoa, N409.26m; groundnuts, N392.2m; plants used in perfumery, N165.4m; and edible roots, N139.56m.

In the same vein, cotton had a total export value of N139.15m; onions and shallots, N128.2m; and Shea oils, N101.9m.

In terms of region of Nigeria’s exports, it was learnt that in the first quarter of 2018, Europe and Asia remained the top two destination continents.

For instance, the value of exports to these two continents in the first quarter of this year showed a steady growth of 48.47 per cent and 26.81 per cent, respectively, compared to the previous quarter.

Further findings showed that exports from Nigeria were mainly sent to the Netherlands, India, Spain, United States and France in the reviewed quarter.