Nigeria sesame seed potential estimated at $566m, says ITC

A latest report by the International Trade Centre (ITC) has shown that Nigeria’s   sesame seeds export potential is estimated at $566.7 million.

According to the report, Nigeria exports $293.9 million yearly.

The receiving countries included Japan, China, Turkey, Korea, Republic of Germany, Viet nam, Guatemala, India, Taipei, Chinese, Greece, Russian Federation, Netherlands, Mexico, United States, Poland, Lebanon and Morocco.

Others are Egypt, Spain, Brazil, Canada, Jordan, Israel, Lebanon, Poland, Taipei, Chinese.

Untapped potential remaining in each countries stands at $295.3 million.

The markets with greatest potential for Nigeria’s exports of Sesame seeds are China, Japan and Turkey. China shows the difference between potential and actual exports, leaving room to realise more exports worth $155.3 million.

“From the centre’s market intelligence, Nigeria’s seeds export potential to Japan stands at $108 million, while  actual exports is $72.8 million. Untapped potential remaining, according to analysts, is $35.2 million. The export potential to Republic of Korea stands at $21.4 million.

“Actual exports, analysts said, are $10.2 million while the untapped potential remaining is $11.2 million.

Nigeria’s export potential to Germany is put at $20.7 million, while actual exports are $12.8 million untapped potential remains $7.9 million.

Also, export potential to Viet Nam is $19.6 million while actual exports is  $18.7 million. Untapped potential remains $857,400. Export potential to Guatemala is  $12.3 million while actual exports is $2.3 million.

Untapped potential remaining is $10 million. While the export potential to India is $11.8 million, actual export is $16.9 million.