In the first nine months of 2023, Nigeria’s agricultural sector has demonstrated significant economic contributions, with a total export value amounting to N798.50 billion.
This noteworthy figure, disclosed in the National Bureau of Statistics’ foreign trade report covering Q1, Q2, and Q3, reflects the sector’s resilience and impact on the country’s trade dynamics.
According to nairametrics.com, For this report, we extracted data on agricultural exports to arrive at the top 10 agricultural exports in the last three quarters from January to September.
Other Frozen shrimps and prawns-
Total exports for the produce reached N18.65 billion for the three quarters under review. In Q1, Nigeria exported N5.12 billion worth of frozen shrimp and prawns. For Q2, it was N5.66 billion and Q3 N7.87 billion
Natural cocoa butter-
For the nine months under review, Nigeria exported natural cocoa butter worth N20.81 billion. The total exports for Q, Q2 and Q3 stood at N4.88 billion, N7.13 billion and N8.80 billion respectively.
Standard Quality Cocoa bean-
Nigeria’s total export of this produce for Q1, Q2 and Q3 was N33.99 billion. For Q1, the figure stood at N17.95 billion but dropped to N7.13 billion for Q2 and slightly rose to N8.91 billion in Q3.
Soya beans (excluding seeds)-
The total value of this product for the period under review stands at N51.87 billion. In the first quarter, the country exported soya beans (excluding seeds) worth N24.10 billion, for Q2 and Q3, the figure was N5.66 billion and N22.11 billion.
Flours and meals of soya beans-
Total export for this produce in the first three quarters of the year is N54.20 billion. In Q1, the figure was N14.53 billion, this increased to N23.60 billion for Q2 and dropped to N16.07 billion in Q3.
Other cut flowers & flower buds of kind suitable for ornamental purposes-
The total export for this produce in the period under review stood at N69.20 billion mainly propelled by the Q3 export which recorded N36.32 billion. For Q1 and Q2, the export was N13.00 billion and N19.88 billion.
Cashew nuts Shelled-
Shelled cashew nuts export totalled N74.13 billion for Q1, Q2 and Q3. In Q1, Nigeria exported N6.84 billion worth of the product. This figure rose astronomically to N57.79 billion in the second quarter and fell to N9.50 billion in Q3.
Cashew nuts in shell-
This produce raked in N100.75 billion in exports for the first 9 months of the year. For Q1, exports stood at N27.18 billion, then rose to N55.02 billion in Q2 before falling to N18.55 billion between July and September.
Sesamum seeds-
Nigeria gained N129.20 billion from sesamum seed export in the first three quarters of the year. A breakdown of the figure according to quarter shows that export for Q1, Q2 and Q3 was N67.66 billion, N38.32 billion and N23.22 billion respectively.
Superior Quality Cocoa beans-
Nigeria’s top agricultural export raked in N157.77 billion in 9 months. From January to March, exports stood at N42.23 billion, this dropped to N30.79 billion between April and June before rising to N84.75 billion in July and September.
The increase in the Q3 export can be attributed to the cocoa supply shortage in Cameroon and Ivory Coast whether and the black pod disease has affected output.
This resulted in the price of cocoa hitting a 46-year high during the third quarter in London and New York markets
The increase in the Q3 export can be attributed to the cocoa supply shortage in Cameroon and Ivory Coast whether and the black pod disease has affected output.
This resulted in the price of cocoa hitting a 46-year high during the third quarter in London and New York markets
