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Nigeria, others’ coconut revenue in mixed fortune - THE NATION

NOVEMBER 29, 2021

Nigeria and other global coconut exporters have   recorded mixed fortunes since 2016, according to data sourced by The Nation.

In 2016, the global value, according to the trade map provided by the International Trade Centre (ITC)   was $8,419,006. It was $10,012,662 in 2017, $9,299,484 in 2018, $8,142,386 in 2019 and $7,958,251 in 2020. It listed Nigeria among the leading exporters. Vietnam has been the leading producer while Nigeria was the 13th.

Vietnam  exported coconut worth $2,810,701 in 2016; $3,482,608 in 2017; $3,290,696 in 2018; $3,072,131 in 2019 and   $3,001,591 in 2020.

Nigeria exported coconut valued at $31,655 in 2016; $74,374 in 2017; $186,101 in 2018; $112,249 in 2019 and  $118,904 in2020.

Côte d’Ivoire exported coconut valued at $ 862,753 in 2016; $1,243,919 in in 2017; $1,164,667 in 2018.

Ghana exported coconut valued $987,724 in 2016; $298,147 in 2017; $460,204 in 2018; $246,062 in 2019 and $ 371,386 in 2020.

Tanzania, exported coconut worth $331,914 in 2016; $536,301 in 2017; $123,854 in 2018;$356,333 in 2019  and   $364,216 in 2020.

While Nigeria has not improved on coconut, importation has been on the rise.

United Nations Statistical Office said Nigeria spent $219,446.53 and $293,214.22 on coconut importation in 2019 and 2018 respectively, an amount higher than $186,094.58 that was spent on coconut importation in 2017.

Earlier this year, the Minister of State for Industry, Trade and Investment, Mrs. Mariam Katagum, said the Federal Government is committed to supporting current efforts aimed at harnessing the immense potentials of the coconut commodity whose global market worth is estimated at over $6 billion.

She said the commodity has a lot of economic, medicinal and nutritional value and enjoys huge market in the country.

The minister, at the inauguration of the 2021 coconut planting season in Abuja, however, expressed concern that despite its economic benefits, the current local supply could only meet about 20 per cent of demand.

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