According to the most recent data from the National Bureau of Statistics (NBS), the top seven agricultural commodities that Nigeria exported in the first quarter of 2023 and brought in N279.64 billion in income were cocoa beans, sesamum seeds, cashew, and seven others.
According to the most recent data available from the National Bureau of Statistics, Nigeria exported agricultural products valued at N280.8 billion during the second quarter of 2023.
This brings the overall value of agricultural exports for the first half of the year to an astounding N560.4 billion, following the N279.6 billion achieved in the first quarter.
In the nine months from January to September of 2023, the total value of agricultural exports was N798.50 billion.
This is in line with the National Bureau of Statistics’ Q1, Q2, and Q3 foreign trade report.
In order to determine the top 10 agricultural exports over the most recent three quarters, from January to September, we extracted data on agricultural exports for this study.
- Other Frozen Prawns and Shrimps: Over the course of the three quarters under review, produce exports totaled N18.65 billion. Nigeria exported frozen shrimp and prawns valued at N5.12 billion in the first quarter. It was N5.66 billion for Q2 and N7.87 billion for Q3..
- Natural cocoa butter: Nigeria exported N20.81 billion worth of natural cocoa butter during the nine months under review. In Q1, Q2, and Q3, the total exports were N4.88 billion, N7.13 billion, and N8.80 billion, in that order.
- Standard Quality Cocoa Bean: Nigeria exported N33.99 billion worth of this product in total in Q1, Q2, and Q3. The amount was N17.95 billion in Q1, fell to N7.13 billion in Q2, and then noticeably increased to N8.91 billion in Q3.
- Soya beans (seeds excluded): During the period under review, the total value of this commodity was N51.87 billion. The nation exported soy beans (apart from seeds) for N24.10 billion in the first quarter; for the second and third quarters, the amounts were N5.66 billion and N22.11 billion.
6- Flours and meals of soya beans-
For the first three quarters of the year, the total export value of this produce was N54.20 billion. First quarter revenue was N14.53 billion; second quarter revenue was N23.60 billion; and third quarter revenue was N16.07 billion.
5 Other cut flowers and flower buds of a kind appropriate for ornamentation: During the period under review, the total export of this produce was N69.20 billion, driven mostly by the N36.32 billion export in the third quarter. Q1 and Q2 exports were N13.00 billion and N19.88 billion, respectively.
4. Almonds Shelled: The total value of exported shelled cashew nuts in Q1, Q2, and Q3 was N74.13 billion. Nigeria exported the good for N6.84 billion in the first quarter. In the second quarter, this amount skyrocketed to N57.79 billion and then dropped.
3. Cashew nuts in shell: During the first nine months of the year, exports of this product brought in N100.75 billion. Exports were recorded at N27.18 billion in Q1, increased to N55.02 billion in Q2, and then decreased to N18.55 billion in July and September.
2. Sesamum seeds: In the first three quarters of the year, Nigeria earned N129.20 billion from the export of sesames seeds. Exports for the first, second, and third quarters were N67.66 billion, N38.32 billion, and N23.22 billion, respectively, according to a breakdown of the data by quarter.
- Superior Quality Cocoa Beans: In just nine months, Nigeria’s top agricultural export brought in N157.77 billion. Exports were valued at N42.23 billion in January, N30.79 billion in April and June, and N84.75 billion in July and September thereafter.
The scarcity of cocoa in Cameroon and the Ivory Coast, as well as any impact from the black pod disease, are the reasons for the rise in Q3 exports.