Nigeria earns N117.97bn from cocoa exports in six months

Nigeria’s earnings from cocoa beans exports in the first half of this year stood at N117,966,174,567 (about N117.97 billion), making the product the second largest non-oil foreign exchange earner for the country during the period under review.

The product, which was categorised in three export forms namely, quality raw cocoa beans, cocoa paste, not defatted, and Superior quality raw cocoa beans, has over the past two years been showing remarkable growth and a major source of revenue earnings for the country just as cashew nuts, sesame seeds, hides and skins improved their revenue earnings as the Federal Government continues to rev up its commitment towards improving the contributions of non-oil sector to the Gross Domestic Product.

According to the latest Trade Statistics Report published by the National Bureau of Statistics, NBS, quality raw cocoa beans raked in N27,072,412,608 compared with Cocoa paste, not defatted’s N15,499,462,824 and Superior quality raw cocoa beans’ N13,196,183,953, making the gross earnings to stand at N55,768,059,385.

Export revenues from Superior quality raw cocoa beans in Q1, 2013 were N62, 198,115,182. A breakdown of the non-oil sector export value based on product-by-product categorisation from January –June showed that Tech. Natural rubber in primary forms or plates topped the foreign exchange earnings chart, grossing N346,525,545,217, followed by tanned or crust hides and skins of other in dry forms which raked in N50,571,227,961. Tech.

Natural rubber in primary forms or plates earnings in Q2 stood at N188,149,818,070 while Tanned or crust hides and skins of other in dry forms raked in N45,160,028,409 during the same period. Others are, Sesame seeds, N41,513,763,308; Leather further prepared after tanning or of goats or kids N25,137,721,850; Earnings from the two products in Q2, 2013 stood at N28,068,106,833 and N16,577,829,957 respectively.

Ginger exports raked in N12,391,202,116 for the six month period compared to Cigarettes containing tobacco’s N12,173,914,200. Footwear, nes, not covering the ankle, of rubber or plastics, N16,321,323,023; Uncombed cabled cotton yarn, greater than 85%,nprs, less than14mn but less or equal to 43mn psy, N16,437,270,508; Dried, dyed, bleached/otherwise prepared cut flowers and buds, N 8,189,107,093; Printed books, brochures, leaflets, etc, in single sheets, N15,284,162,505.

Other milk and cream in packs less than 25kg not containing added sugar/sweetening earned N12,588,537,184; Wood charcoal of bamboo, N11,008,126,524; and Frozen shrimps and prawns N4,963,195,130 and Propane, liquefied, N6,497,275,322.

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