Post by Trade Coach on Apr 18, 2021 21:39:55 GMT 1
Sesame Seeds are tiny oil-rich seeds that grow in pods on plants known as Sesamum indicum. It is one of the oldest oilseed plants in the world that is known to mankind.
It is also known as benne seeds in some climes, its seeds are used as foods and flavoring from which its rich oil is extracted. The plant is found in most of the tropical and southern temperate areas of the world. It is found in tropical and subtropical areas of Asia, Africa, and South America.
The seeds taste mild and nutlike. The principal constituent of the seed is its oil which usually amounts to about 44-60 percent. Compared to similar crops such as peanuts, soybeans, and rapeseed; Sesame seed has been known to contain the most oil.
Sesame seeds are also rich in protein, vitamins, and antioxidants. It is one of the most sought after cash crops in Nigeria today. Cocoa may be the only cash crop in Nigeria that may be leading sesame seeds in value, both for exports and local consumption. The protein content of sesame seeds is about 25%.
If properly harnessed, it could be Nigeria’s black gold. It is popularly called benne seed in the Northern part of the country, and forms an important crop in the Nigerian agricultural sector for quite some time now. The influence of the crop continues to grow in Nigeria’s non-oil sector.
According to a statement by the Global Sesame Conference China, 2020; Annual exports of Sesame seeds from Nigeria are valued at about US$700 million, and Nigeria is the primary supplier of sesame seed to the world’s largest importer, Japan.
Nigeria is the largest producer of sesame seeds in Africa, and the third largest in the world. It was stated that 90% of sesame seeds produced in Nigeria are exported. Nigeria’s sesame seed production as of 2020 occupied about 36.39% the country’s total agricultural exports. The production of sesame seeds in Nigeria as at 2020 was expected to be about 600,000 metric tons from about 588,000 metric tons in 2019.
What are the uses of sesame seeds?
Sesame seed has many uses, the most popular being a very good source of vegetable oil that has been widely acclaimed not to contain cholesterol. This quality has made it to be the most demanded vegetable oil in the world today.
The seed can be used in cosmetic industries, pharmaceutical and confectionary, paints, soaps, and the lubrication industries just to mention a few.
Top producers of sesame seeds in Nigeria
Nigeria has consistently been at the fore front of sesame seed production in the world over the years; this has made the crop one of the most important crops in the country’s agricultural export mix. It is ranked second behind cocoa for now. Can it overtake cocoa? Let us wait and see what the 2021 report will show.
The crop is drought resistant; therefore it is best cultivated in tropical areas in the country. It is cultivated mainly in the Northern part of the country and some parts of the south west.
The leading producing states are:
Jigawa
Sokoto
Benue
Nasarawa
Yobe
Kano
Kogi
Gombe
Plateau.
Due to the viability of the business of sesame seeds, many other states in Nigeria have joined the traditional producing states to cultivate the crop.
Parts of the South South and South Eastern states have joined the band wagon in the production of sesame seeds.
It was recently reported that farmers have successfully cultivated the crop in Ebonyi state and some parts of Northern Cross River State.
Owing to the huge demand of the seeds by the international community, about 26 states in Nigeria have keyed into the production of the crop.
This is black gold; if you are living in any of those states mentioned, find a way to inquire about the crop and key into the business.
How can this trend benefit you?
The Commodities Markets and Exchanges are coming to life in Nigeria in quick succession; AFEX Commodities Exchange is live and it is trading daily; we are expecting the Gezawa Commodity Market and Exchange to come live in the second quarter of 2021.
You can come as an exporter or as a broker. Contact the farmers and act as their broker if you cannot put together some funds to execute the export by yourself. Sesame seed is listed on AFEX commodities Exchange, and the trading platform is available for all.
Go and register with the Commodities Exchanges and start learning how you can be a part of this goldmine.
To help our members more, we will be coming up with a comprehensive guideline on how small scale businessmen and women can leverage on Nigeria Import and Export Bank (NEXIM) to start their export business without much funds.
Please also look out for our next article on how you can participate in the business of Commodities Markets and Exchanges.
Be on the look out.
