Post by Trade facilitator on Oct 19, 2013 2:31:33 GMT 1
A total of N211.55 billion was invested into growing cash crops for export by Nigerian farmers in 2011/2012 farming season, said a survey carried out by National Bureau of Statistics (NBS).
The amount was earned from own funds, funds from friends and relations, community banks, Bank of Agriculture, commercial banks, cooperative societies, local money lenders, and micro institutions.
Exportable agricultural commodities are crops that grow in Nigeria, which have export potentials. They include cashew, cocoa, coffee, cotton, garlic, ginger, gum Arabic, kola nut, oil palm, rubber, sesame seed (beniseed), shea nut, sugarcane and tea. These crops formed the samples for the survey.
These agricultural produce form Nigeria’s major non-oil export products based on the fact that the country is yet to develop its industrial sector.
A breakdown of the funds spent on growing these crops shows that own funds led the list with N134.19 billion representing 63.44 percent, followed by funds from micro credit institutions with N36.84 billion (17.42 percent), while funds from community bank recorded the lowest amount of N1.29 billion (0.61 percent).
Funds committed into growing the 14 exportable crops that came through institutional sources include: N12.61 billion from cooperative banks; N2.04 billion from Bank of Agriculture; N1.43 billion from commercial banks; and N1.29 billion from community banks.
The report shows that 27 states and the Federal Capital Territory (FCT) planted cashew on a total land area of 120.17 hectares and this led to the total production of 93.292 metric tonnes of exportable crops produced nationwide within the year under review. Cocoa was cultivated in 18 states on a total land area of 1,363.60 hectares with a total production of 370.01 metric tonnes. Cotton was also produced in 18 states on a total land area of 399.87 hectares. Coffee was cultivated in 11 states on a total land area of 54.34 hectare, recording a total output of 32.91 metric tonnes nationwide.
Further breakdown shows that garlic was cultivated in 11 states within the period under review in an estimated land area of 30.49 hectares. The national production figure for garlic stood at 150.12 („000) metric tonnes. Fifteen states including Abuja cultivated ginger nationwide on an estimated land area of 49.60 hectares, which yielded a total production estimate of 167.29 metric tonnes. Gum Arabic was produced in nine states on an estimated land area of 20.20 („000) hectares that yielded an estimated 23.04 metric tonnes nationwide.
Also, 19 states cultivated kola nut in a land area of 274.37 hectares and this recorded a national output of 174.23 metric tonnes. 25 states including FCT cultivated 1,724.23 hectares of oil palm and this led to a total production of 1,331.53 metric tonnes of palm oil nationwide.
On rubber production, 10 states cultivated a total land area of 65.13 hectares, while a total number of 48.02 metric tonnes was produced nationwide. Shea nut was planted in 19 states as well as the FCT in an estimated land area of 334.36 („000) hectares, with total production at 336.39 metric tonnes nationwide within the period under review. About 17 states and the FCT cultivated beni-seed nationwide in a total land area of 302.13 hectares, recording an estimated total production of 127.60 metric tonnes.
Furthermore, 28 states and the FCT cultivated 76.38 hectares of land nationwide for the production of sugarcane, which recorded a total production volume of 1,429.57 metric tonnes; while Taraba and Plateau States were the two states involved in tea production covering a total land area of 1.67 hectares that yielded an output figure of 5.61 metric tonnes.
Source: businessdayonline.com/2013/07/nigeria-spends-n211bn-on-exportable-crops-in-one-season/
The amount was earned from own funds, funds from friends and relations, community banks, Bank of Agriculture, commercial banks, cooperative societies, local money lenders, and micro institutions.
Exportable agricultural commodities are crops that grow in Nigeria, which have export potentials. They include cashew, cocoa, coffee, cotton, garlic, ginger, gum Arabic, kola nut, oil palm, rubber, sesame seed (beniseed), shea nut, sugarcane and tea. These crops formed the samples for the survey.
These agricultural produce form Nigeria’s major non-oil export products based on the fact that the country is yet to develop its industrial sector.
A breakdown of the funds spent on growing these crops shows that own funds led the list with N134.19 billion representing 63.44 percent, followed by funds from micro credit institutions with N36.84 billion (17.42 percent), while funds from community bank recorded the lowest amount of N1.29 billion (0.61 percent).
Funds committed into growing the 14 exportable crops that came through institutional sources include: N12.61 billion from cooperative banks; N2.04 billion from Bank of Agriculture; N1.43 billion from commercial banks; and N1.29 billion from community banks.
The report shows that 27 states and the Federal Capital Territory (FCT) planted cashew on a total land area of 120.17 hectares and this led to the total production of 93.292 metric tonnes of exportable crops produced nationwide within the year under review. Cocoa was cultivated in 18 states on a total land area of 1,363.60 hectares with a total production of 370.01 metric tonnes. Cotton was also produced in 18 states on a total land area of 399.87 hectares. Coffee was cultivated in 11 states on a total land area of 54.34 hectare, recording a total output of 32.91 metric tonnes nationwide.
Further breakdown shows that garlic was cultivated in 11 states within the period under review in an estimated land area of 30.49 hectares. The national production figure for garlic stood at 150.12 („000) metric tonnes. Fifteen states including Abuja cultivated ginger nationwide on an estimated land area of 49.60 hectares, which yielded a total production estimate of 167.29 metric tonnes. Gum Arabic was produced in nine states on an estimated land area of 20.20 („000) hectares that yielded an estimated 23.04 metric tonnes nationwide.
Also, 19 states cultivated kola nut in a land area of 274.37 hectares and this recorded a national output of 174.23 metric tonnes. 25 states including FCT cultivated 1,724.23 hectares of oil palm and this led to a total production of 1,331.53 metric tonnes of palm oil nationwide.
On rubber production, 10 states cultivated a total land area of 65.13 hectares, while a total number of 48.02 metric tonnes was produced nationwide. Shea nut was planted in 19 states as well as the FCT in an estimated land area of 334.36 („000) hectares, with total production at 336.39 metric tonnes nationwide within the period under review. About 17 states and the FCT cultivated beni-seed nationwide in a total land area of 302.13 hectares, recording an estimated total production of 127.60 metric tonnes.
Furthermore, 28 states and the FCT cultivated 76.38 hectares of land nationwide for the production of sugarcane, which recorded a total production volume of 1,429.57 metric tonnes; while Taraba and Plateau States were the two states involved in tea production covering a total land area of 1.67 hectares that yielded an output figure of 5.61 metric tonnes.
Source: businessdayonline.com/2013/07/nigeria-spends-n211bn-on-exportable-crops-in-one-season/
