There is a 9% decline in the revenue made from the top 10 agricultural products in the first quarter of 2019, while the revenue of agricultural products export dropped from N91.2 billion generated in the last quarter of 2018, to N82.3 billion.
Meanwhile, a closer look into the data shows that certain items which were not listed among the top ten export the previous quarter made the list as demand for their exports surged in the last quarter.
According to NBS, agricultural products are goods that come from the planting of crops and/or raring of animals.
Top ten Agricultural Product Export in Nigeria
1. Sesamum seeds, whether or not broken: Sesamum seeds have been Nigeria’s agricultural product export biggest earner for the past years. In the first quarter of 2019, Nigeria made the sum of N39.6 billion from the export of the product.
- The revenue generated in Q1 2019 represents a 17% increase within just one quarter. In Q4 2018, the total value of revenue generated from the export of Sesamum seeds was put at N33.8 billion. This means, in just one quarter, revenue made rose by N5.7 billion.
- Top destinations for the product include Japan, China, Turkey, India, and Vietnam.
- Japan is the biggest destination for the product in the first quarter, recording N8.15 billion of Nigeria’s export product.
- Other top countries like China imported Sesamum seeds estimated at N7.23 billion, Turkey (N6.72 billion) and India (N6 billion).
2. Good fermented Nigerian cocoa beans: In the first quarter of 2019, Nigeria’s fermented cocoa beans ranks the second-biggest agricultural product export as it generated the sum of N20.1 billion.
- Although there is a decline in the revenue made from the export of fragmented cocoa during the quarter, in Q4 2018, Nigeria made the sum of N24.9 billion. This means the product’s export revenue declined by 19%.
- The top destinations for the product are Germany, Netherlands, Belgium, Indonesia, and Spain.
- Germany was the biggest importer with N5.9 billion, Netherlands (N5.7 billion), Belgium (N4.23 billion), Indonesia (N1.1 billion) and Spain (N1 billion).
3. Superior quality raw cocoa beans: This item is different from the fragmented cocoa. It is described as cocoa in raw form and it ranks Nigeria’s third-biggest agricultural product exported.
- The revenue made from the export of raw cocoa beans was estimated at N9.8 billion. The value recorded in Q1 2019 inched up from the N9.6 billion generated in Q4 of 2018.
- The top destinations for the product are Indonesia, Belgium, Germany, Malaysia, and Estonia.
- Indonesia is the biggest market for the product, recording N2.9 billion, Belgium (N705.6 million), Germany (N366.7 million), Malaysia (N113.8 million) and Estonia (NN83.10 million).
4. Cashew nuts, in Shell: Cashew nuts are Nigeria’s 4th biggest agricultural export product. In the first quarter of 2019, the country generated a total sum of N4.3 billion. The product maintains the same spot it occupied in the last quarter of 2018.
- Export revenue made from cashew nuts export dropped from N5.8 billion generated in Q4 2018, to N4.3 billion.
- The top destinations are Vietnam, India, USA, Russia and the Netherlands.
- Vietnam is the biggest importer with N2.8 billion, India (N1.2 billion), USA (N104 million), Russia (N42 million) and the Netherlands (N33.3 million).
5. Other frozen shrimps: Nigeria’s 5th biggest export product changed in the last quarter as frozen shrimps climbed two steps up. In Q1 2019, revenue generated from the export of frozen shrimps was estimated at N2.40 billion.
- In Q4 2018, frozen shrimps ranked the 7th biggest agricultural export in Nigeria.
- The top destinations for the product are Netherlands, Belgium, France, Vietnam, and the USA.
- The Netherlands is the biggest market with (N1.18 billion), Belgium (N385.9 million), France (N279.3 million), Vietnam (N239 million) and USA (N122.6 million).
6. Other quality raw cocoa beans: In the first quarter of 2019, revenue made from the export of other raw cocoa beans was estimated at N1.39 billion. The product ranks Nigeria’s 6th biggest agricultural export product.
- Revenue generated from the export of the product dropped drastically from N5.4 billion in Q4 2018 to N1.39 billion in Q1 2019.
7. Ginger: Nigeria’s export market for ginger returned in the first quarter of 2019 after the ginger product did not make the list of Nigeria’s top agricultural export products in the last quarter of 2018. Meanwhile, it ranks Nigeria’s 7th biggest agricultural export products in Q1 2019, generating N1.35 billion.
8. Natural Cocoa Butter: Natural cocoa butter ranks Nigeria’s 8th biggest agricultural export product. The product generated the sum of N1.22 billion for the country.
9. Cashew nuts, shelled: Cashew nut export is Nigeria’s 9th biggest agricultural product export, generating the sum of N1.21 billion in terms of export revenue. Revenue generated dropped from the N1.67 billion generated in the last quarter of 2018.
10 Agro-food items: Agro-food items complete the top ten of Nigeria’s biggest agricultural products export. The product export rose to make the list for the top ten in Q1 2019 and generated the sum of N922.6 million.