Top 10 Agricultural Product Exports in Nigeria (2023)
According to NPIC.GOV.NG, the list of the top 10 agricultural export products in Nigeria is determined by the estimated revenue generated by the products.
According to NPIC, these products have earned Nigeria about 289.3 billion naira in 12 months (April 2019 – March 2020). This is according to data collected from various foreign trade reports, as compiled by the National Bureau of Statistics (NBS).
Top 10 Agricultural Product Export in Nigeria
1. Sesamum Seeds
Sesamum seeds have consecutively been the biggest exported product among Nigeria’s agricultural products in the past years. In the first quarter of 2019, a sum of N39.6 billion was made in Nigeria from just the export of this product.
The income generated in Q1 2019 is a representation of a 17% increase within only one quarter. Moreover, in Q4 2019, the total value of income generated from just the export of Sesamum seeds was put at N33.8 billion. Hence, in just one quarter, the income made increased by N5.7 billion naira which is really good revenue.
The top destinations to which this product include China, Japan, India, Turkey, and Vietnam. Among these countries, Japan is the largest destination for the export of Sesamum seeds in the first quarter of 2019, as Nigeria recorded a sum of N8.15 billion naira of the exported product.
Other high-ranking countries like China imported Sesamum seeds estimated at N7.23 billion naira, Also, Turkey (N6.72 billion) and India (N6 billion) respectively.
2. Good Fermented Nigerian Cocoa Beans
Nigeria’s fermented cocoa beans rank as the second-largest agricultural product, as it generated N20.1 billion naira in the first quarter of 2019.
Although there was a declination in the revenue that was made from the exportation (fermented cocoa) during the fourth quarter. In Q4 2019, Nigeria made the sum of N24.9 billion naira which means the product’s income reduced by 19%.
The Top destinations for the export of Fermented Cocoa products include Germany, Netherlands, Belgium, Spain, Indonesia. Germany was the largest importer of Fermented Cocoa with the sum of N5.9 billion naira, Netherlands with N5.7 billion naira, Belgium (N4 23 billion), Indonesia (N1.1 billion), and Spain with N1 billion naira respectively.
3. Superior Quality Raw Cocoa Beans
This product is different from fermented cocoa. It is usually described as the raw form of cocoa and it ranks as the third biggest agricultural product been exported in Nigeria.
The income made from the exportation of raw cocoa beans was estimated at N9.8 billion naira. The amount recorded in Q1 2019 rises up from the N9.8 billion naira generated in the Q4 of 2019.
The top biggest destination for the export of this product (raw cocoa beans) includes Indonesia, Belgium, Germany, Malaysia, and Estonia. With Indonesia as the largest market for the importation of the product recording a sum of N2.9 billion, Belgium (N705.6 million), Germany (N366.7 million), Malaysia (N113.8 million), and Estonia (N83.10 million) respectively.
4. Cashew Nuts (in Shell)
Cashew Nut is the fourth largest agricultural export product in Nigeria. In the first quarter of 2019, Nigeria generated a total sum of N4.3 billion naira. Cashew nuts were able to maintain this same spot it occupied in the last quarter of 2019.
Export income made from this product’s (cashew nuts) export reduced from N5.8 billion naira generated in the Q4 2019, to N4.3 billion.
The top biggest destinations for the export of this product are Vietnam, India, the USA, Russia, and Netherlands. Vietnam is the largest importer with the sum of 2.8 billion, India (1.2 billion), USA (104 million), Russia (N42 million), and the Netherlands with N33.3 million respectively.
5. Other Frozen Shrimps:
This product (Frozen Shrimps) was able to make it to the 5th largest export of Nigeria’s product from its initial seventh position in the last quarter.
In Q1 2019, the income generated from the export of this product (Frozen Shrimps) was estimated at N2.40 billion naira. In Q4 2019, this product was ranked the 7th largest Nigeria’s agricultural export.
The Top destinations for the exportation of this product include Netherlands, Belgium, France, Vietnam, USA. With Netherlands ranking as the biggest market with N1.18 billion, Belgium (385.9 million), France (N279.3 million), Vietnam (239 million), and USA with N122.6 million naira.
6. Other Quality Raw Cocoa Beans:
In the first quarter of 2019, the income made from the exports of this product was estimated at N1.39 billion. The product ranks as Nigeria’s sixth-biggest agricultural export product.
Income generated from the export of this product reduced drastically from N5.4 billion naira in Q4 2019 to N1.39 billion in Q1 2019.
Nigeria’s export market value for ginger returned in the first quarter of 2019 after the product didn’t make it to the list of Nigeria’s top agricultural export products in the last quarter of 2019. Moreover, it ranks st Nigeria’s seventh-largest agricultural export product in Q1 2019, generating a sum of N1.35 billion naira.
8. Natural Cocoa Butter
This product was able to be ranked as the 8th largest agricultural export product in Nigeria. Natural Cocoa Butter generated the sum of N1.22 billion for the country.
9. Cashew Nuts, (Shelled)
The exportation of cashew nuts is the 9th largest agricultural product in Nigeria generating the sum of N1.21 billion in terms of export incomes. Incomes generated reduced from N1.67 billion generated in the last quarter of 2019.
10. Agro-food Items
Agro-food products were able to make it to the top 10 biggest export products in Nigeria. The product’s export increased to make the list for the top 10 in Q1 2019 and generated the sum of N922.6 million naira.
Other agricultural products that are ranked below the top 10 exported products include; Cotton, Other cut flowers & flower buds of kind suitable ornamental purposes, and Ginger.
During the period, a total sum of 2.5 billion naira was generated from Cotton export, Agro-food items (N1.9 billion), Cut flowers and flower buds (1.9 billion), and Ginger (N1.4 billion).