Tridge summary
In the first quarter of 2020, Nigeria saw sesame seed exports reaching a value of N49 billion, making it the top agricultural export for the period. The main destinations for these exports were Japan, Turkey, and China. This performance highlights the potential for growth in Nigeria's sesame production, which could significantly boost foreign exchange earnings and create jobs. The total agricultural trade value for the quarter stood at N387.7 billion, with exports contributing to 33.3% of this figure. As the largest African producer of sesame seeds and the world's third-largest producer, Nigeria has a substantial presence in the global market. However, there is scope for increasing value addition by attracting more private sector investment in processing, as the country currently lacks adequate processing facilities.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Despite the novel coronavirus outbreak that obstructed global trade, Sesame has topped Nigeria’s agric export for the first quarter of the year. Data from the National Bureau of Statistics (NBS) shows that sesame was the most exported agricultural commodity in the first quarter of 2020 with a total value of N49billion worth of the crop exported to Japan, Turkey, and Europe. Sesamum seeds worth N9.8billion, N9.5 billion, and N9.3billion were exported to Japan, Turkey, and China respectively. Experts say the export numbers are an indication that the sesame production has the capacity to grow and earn the country huge foreign exchange and create hundreds of jobs in the country amid and post-COVID-19 pandemic. Mutairu Mamudu, national president of Sesame Farmers Association of Nigeria said that sesame has lots of potentials, adding that the crop has both commercial and medicinal value. Mamudu stated that oil extracted from the seeds is better than every other oil seeds. “It is 100 ...
Source: NGBusinessday
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