Post by Trade Coach on Aug 27, 2018 8:14:43 GMT 1
Nigeria exports about 60,000 tons of natural rubber annually and has a comparative trade advantage on rubber production and exportation besides crude oil.
Nigeria has always been known for the export of the three major cash crops; palm oil, groundnuts and rubber which has contributed positively to the economy of the country and provided employment opportunities.
Rubber is grown in Ondo, Ogun, Delta, Bayelsa, Abia, Anambra, Akwa Ibom, Cross River, Rivers, Edo and Ebonyi States where the amount of rainfall is about 1800 mm to 2000 mm per annum.
For many years, Nigeria and some African countries have been exporting primary commodities including rubber to foreign countries to feed their factories and in return bring back the processed products for our use.
Some of the processed products of rubber include, vehicle tyres, insulation, protective gloves, shoes, telephone parts, parts for radio sets, meters, and other electrical parts.
Rubber has hundreds of consumer and industrial applications which include uses in:
Medicine
Transportation
Building and Bridge construction
Personal care products
Food Industry etc.
The demand for rubber continues to increase especially because of the positive boost in the tyre manufacturing industry which makes about 70% of the total demand for rubber and also the increasing global automobile sales.
While the demand of natural rubber continued to increase, its production and supply is not increasing at the same pace because plantations are either too old or immature to start yielding, and less product export, which makes the rubber export market less saturated with competitors and makes the business more yielding and profitable.
Rubber is highly demanded in countries like China and India.
Contact us for more information on how to successfully export rubber.
