Entrepreneurship

Nigeria Records N817.35 Billion In Agricultural Trade -NBS.

A total of N817.35 billion worth of trade in agricultural goods has been recorded by the Federal Government in the second quarter of 2021.

This was recently disclosed by the National Bureau of Statistics (NBS) in a document entitled “Foreign Trade Statistics – Q2 2021”

According to the report, N165.27 billion was realised from the export of agricultural goods while imports stood at N652.08 billion.

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The NBS data showed that the most exported agricultural product was the fermented Nigerian Cocoa beans which were mainly exported to the Netherlands valued at N16.48 billion, Malaysia (N9.32 billion) and the United States (N8.41 billion).

Cashew nuts were the second leading agricultural export to countries like Vietnam (N33.54 billion) and India (N3.24 billion).

Other major exports include sesame seeds supplied to Japan with a value of N7.28 billion and China at N7.14 billion while coconuts stood at N9.94 billion.

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The NBS noted the importation of Durum wheat (not in seed) from countries which include the United States valued at N70.37 billion, Canada (N54.48 billion), Argentina (N35.04 billion), Lithuania (N32.24 billion) and Latvia (N25.91 billion).

The next product imported under this category was the Blue whiting from Russia (N27.23 billion) and the Netherlands (N13.41 billion).

“During the quarter, mackerel worth N9.61billion was imported from Netherlands and N4.91billion from Japan. There was also the importation of malt, not roasted from Belgium (N21.42 billion) and France (N4.48 billion),” NBS stated.

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“Other major importation was Crude palm oil from Singapore valued at N15.09 billion and India at N11.68 billion,” it added.

source AgroNigeria

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