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Nigeria’s top 10 agricultural export from January to September 2023

The total value of agricultural exports in the 9 months from January to September 2023 stands at N798.50 billion.

This is according to the foreign trade report for Q1, Q2 and Q3 published by the National Bureau of Statistics.

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.

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.

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.

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 sightly rose to N8.91 billion in Q3.

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.

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.

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.

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.

This produces 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.

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.

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 Cameroun 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.