Post by Trade facilitator on Nov 26, 2017 13:01:42 GMT 1
Introduction:
One agricultural produce that has been identified by experts as a money spinner is sesame seed. Sesame seed is an important oil seed crop which is believed to have originated from Tropical Africa.
Currently about 25 percent of the world sesame seed is planted in Africa. Nigeria is one of the major producers of the crop in the continent. The crop which is one of the oldest cash crops in Nigeria is produced in about 21 states of the Federation but is predominantlyfound in Benue and Jigawa States.
Export Value:
In terms of export value, Sesame seed ranks second to cocoa in the foreign exchange earnings.
Nigeria is currently among the top five largest producers and exporters of the commodity in the world with an estimated production of over 120, 000 metric tones annually. Accordingly Nigeria currently earns about $20m annually, through the exportation of Sesame seeds.
The major market destinations for Nigeria's Sesame seed are Japan, Korea, China, Turkey and the Middle East.
Growing Demand:
Currently there is a high demand for Sesame seed from Nigeria at the International Market. Japan is one of the largest importers of Sesame seed from Nigeria some years ago, they imported over 20,000 metric tones. There is also a huge demand for Sesame seed from Nigeria in Asia, Middle East and Europe.
Investment Opportunities:
In order to meet this high demand for Sesame seed, the Nigeria Export Promotion Council is working out modalities to jerk up the production. The organization is also partnering with small and large scale investors, who want to take advantage of the export potential of sesame seed in Nigeria.
Currently there are various opportunities for entrepreneurs either directly in the area of farming or as export merchants by buying the produce and exporting it.
The Nigeria Export Promotion Council (NEPC) also provides incentives for prospective entrepreneurs wishing to take advantage of the investment opportunity in Sesame seed exportation.
The agro-raw materials boosting programme is an intervention package to promote the use of improved seeds and seedlings to boost the production of selected agro-raw materials to bridge the gaps between raw materials demand and supply.
Local and International Prices:
Local price per metric tones of Sesame seed varies from N412,000 during the peak season to about N480,000 at the off-season.
The export free on board price-of Sesame seed varies from $900 to $1,400 per metric tones, depending on the type and form of the same seed and the negotiation made with the buyers.
One agricultural produce that has been identified by experts as a money spinner is sesame seed. Sesame seed is an important oil seed crop which is believed to have originated from Tropical Africa.
Currently about 25 percent of the world sesame seed is planted in Africa. Nigeria is one of the major producers of the crop in the continent. The crop which is one of the oldest cash crops in Nigeria is produced in about 21 states of the Federation but is predominantlyfound in Benue and Jigawa States.
Export Value:
In terms of export value, Sesame seed ranks second to cocoa in the foreign exchange earnings.
Nigeria is currently among the top five largest producers and exporters of the commodity in the world with an estimated production of over 120, 000 metric tones annually. Accordingly Nigeria currently earns about $20m annually, through the exportation of Sesame seeds.
The major market destinations for Nigeria's Sesame seed are Japan, Korea, China, Turkey and the Middle East.
Growing Demand:
Currently there is a high demand for Sesame seed from Nigeria at the International Market. Japan is one of the largest importers of Sesame seed from Nigeria some years ago, they imported over 20,000 metric tones. There is also a huge demand for Sesame seed from Nigeria in Asia, Middle East and Europe.
Investment Opportunities:
In order to meet this high demand for Sesame seed, the Nigeria Export Promotion Council is working out modalities to jerk up the production. The organization is also partnering with small and large scale investors, who want to take advantage of the export potential of sesame seed in Nigeria.
Currently there are various opportunities for entrepreneurs either directly in the area of farming or as export merchants by buying the produce and exporting it.
The Nigeria Export Promotion Council (NEPC) also provides incentives for prospective entrepreneurs wishing to take advantage of the investment opportunity in Sesame seed exportation.
The agro-raw materials boosting programme is an intervention package to promote the use of improved seeds and seedlings to boost the production of selected agro-raw materials to bridge the gaps between raw materials demand and supply.
Local and International Prices:
Local price per metric tones of Sesame seed varies from N412,000 during the peak season to about N480,000 at the off-season.
The export free on board price-of Sesame seed varies from $900 to $1,400 per metric tones, depending on the type and form of the same seed and the negotiation made with the buyers.