The total value of agricultural import exceeded export by N503bn in the first three months of the year.
Statistics obtained from the National Bureau of Statistics showed that the total trade in agriculture was N757.4bn in the first quarter of the year.
The report put the export component at N127.2bn and the imports at N630.2bn in the period under review.
The report said, “The total value of trade in agricultural goods in Q1, 2021 stood at N757.4bn.
“The export component of this trade totalled N127.2bn while the import was valued at N630.2bn.”
This means that the value of imports exceeded the value of exports by 395.44 per cert.
The value of total trade in agricultural goods in Q4, 2020 stood at N588.2bn; while the export component was valued at N55.8bn and the import component at N532.4bn, the NBS report disclosed.
According to the report, top exported agricultural products were Sesamum seeds exported mainly to China (valued at N23.1bn), Japan (N8.3bn) and Turkey (N3bn).
This was followed by good fermented cocoa beans exported to the Netherlands (N9.2bn), Malaysia (N5.5bn) and the United States (N3.2bn).
Other major exports under this sector included cashew nuts in shell exported to Vietnam and India worth N5.3bn and N5.1bn respectively.
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There was importation of durum wheat (not in seed) worth N66.97bn from Lithuania.
Durum wheat also came from Latvia (N41.51bn), Canada (N41.31bn) among others.
The report added that edible mixtures or preparation of animal worth N82.86bn was imported from Denmark.
Herrings (Clupea haregus, Clupea pallasii) was imported from Russia (N15.8bn) and Netherlands (N14bn).
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