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INSIDETHIS ISSUEExport News:

Soya Beans Export:

A Potential Gold Mine of

Nigeria

- 1

Export Education:

How The West Has Kept African

Exports Under 3% For Many

Years

- 3

Export Training Products:

Exporter’s Companion

and more

- 3

Export Miscellaneous:

Commodity Prices,

Infographs, and lots more

- 3 & 4

Export Programme:

Import Processes, LC & BC

and More

- 2

VOLUME 4ISSUE 17

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is therefore need to increase the volume of Soyabeans production. The government has shown that this can be done with what it has achieved with rice product and I strongly believe that the administration of President Mohammadu Buhari can replicate the same to grow the output of Soyabeans cultivation in the country.

Finally, I will like to call on the government to begin to seek out for other unusual products in Nigeria with large world export volume that it can support the production for the purpose of strategically growing the non-oil export volume of Nigeria and thereby reducing the danger of over dependence on oil for the generation of both income and foreign exchange for the country.

Excerpt: Tradeinfo.ng

The Nigerian Exports Promotion Council has drawn the attention of exporters to the certification that is needed to export food products to the global market. The certification, Hazard Analysis Critical Control Point, is required to penetrate the international market for processed value-added products, particularly food items. During a one-day awareness training programme on HACCP in Lagos on Tuesday, the Executive Director and Chief Executive Officer, NEPC, Mr Segun Awolowo, who was represented by the Director, Product Department, NEPC, Mr William Ezeagu, stressed the competitive nature of the global market, saying that to compete, exportable food products needed to strive to acquire additional non-mandatory certifications. He said, “Non-mandatory certifications (example, ISO, HACCP, Good Manufacturing Practises, etc. ,) are global certifications, trusted by consumers and end-users of

NEPC Launches GlobalCertification for for Exports

For many years, Nigeria has concentrated on exportation of Agricultural products as one of the main sources of generating foreign exchange in the non-oil export sector. However, the real export potential of Agricultural commodity has not really being explored because there is no philosophy driving the desire for export growth in the country. Many are simply exporting just to make money with no strategic direction on the implication on the economy. The government have also not done enough in this regards because the Agricultural products that the government is promoting and supporting for exportation are the regular products like Cocoa, Sesame seeds, Raw cashew nuts, Ginger and Hibiscus flower.

Out of the Agricultural commodities exported out of Nigeria every year, the ones that constantly feature on the top 10 exported Agricultural commodity and also among the top ten exportation of Nigeria in general include Cocoa, Sesame seeds, Ginger and Raw cashew nuts. What really bothers me is why government is still giving so much support to these commodities and neglecting of commodity like Soyabeans. I guess it is because the exportation of Nigeria has mainly being done by default based on what is convenient and available and not based on any ideology driven from the topmost echelon of government.

It may interest you to know that the total export markets of Cocoa, Sesame seeds, Ginger and Raw cashew nuts is less than $20billion while that of Soyabeans alone is about $60billion. According to the 2017 global export data from The Observatory of Economic Complexity, the total export volume of Cocoa beans traded in the world was $9.35billion, that of Sesame seed was $2.2billion, that of Ginger was $845million while the exported volume or Raw cashew nut was $6.84billion. The total value of all these most promoted, traded and celebrated export of Agricultural commodities in Nigeria is $19.24billion while the world traded volume of Soyabeans in the same period was $58.1billion.

Why are we so focussed on the exportation of many Agricultural commodities with less value and neglecting the drive for the exportation of strategic products like Soyabeans with such a very high value that tripled the combined volume of all the most traded Agricultural products in Nigeria? The answer in my opinion is the ignorant of the elite that are satisfied with status quo and therefore not seeking creative ways to more efficiently and effectively grow our non-oil export volume and the economy in general.

I think it is high time that the government declared its support for the growth of Soyabeans exportation in Nigeria just the way it has done for rice production which also has a lower export volume than Soyabeans. Nigeria currently generates about $47.6million from the exportation of Soyabeans and this is just a meagre 0.082% of the total export volume. There

Soya Beans Export: A PotentialGold Mine of Nigeria

Mr. Segun Awolowo

Top NewsSoya Beans Export: A Potential Gold MineOf Nigeria NEPC Launches Global Certification ForFood Exports

34% Drop in Global Price Threatens CashewExports

Machinery exports surge in January-April

Yam Exporters Task FG On Trade AgreementWith EU

for June

Page 2.

Stakeholders in the yam export value chain have appealed to the Federal Government to sign relevant trade agreements with the European Union (EU) in order to facilitate free duty yam export to Europe.

The appeal was contained in a communiqué issued in Abuja, at the end of a four-day study tour by Nigerian yam stakeholders to the Republic of Ghana.

The document was signed by Prof. Simon Irtwange, the President, National Association of Yam Farmers, Processors and Marketers and Chairman, Technical Committee on Nigeria Yam Export Programme.

The stakeholders pointed out that Nigeria yam export to the United Kingdom attracted a duty (tax) of 9.5 Euros per 100 kg, unlike in Ghana where yam farmers and exporters enjoyed free duty.

According to the stakeholders, the aim of the tour was to enable Nigeria get a knowledge of standards and systems put in place by Ghana that led to their success stories in yam production, storage, processing, packaging and export.

It added that the tour was also to enhance the development and growth of the country's yam sub-sector of the economy and ensure it became a major export commodity that would boost foreign exchange.

Excerpt: Independent

.

VOLUME 4 ISSUE 17

The 2018 crash of commodity prices in the global market has had a huge impact on the Nigerian cashew sector. It has forced many exporters to hold excess stocks of raw cashew nuts bought at a time when prices were more favourable, our correspondent gathered.

Price of raw cashew nuts fell by 50 per cent from N600, 000 ($1,666) per metric tonne in April 2018 to about N300, 000 ($833) in July of the same year.

Currently, cashew sells for $1,100 per MT, signalling 34 per cent drop in price from last year.

While speaking during a cashew investment and exhibition forum in Lagos on Wednesday, the Executive Director and Chief Executive Officer, Nigerian Export Promotion Council, Mr Segun Awolowo, noted that the programme was informed by the persistent downward prices of RCN that had, in turn, resulted in supply glut in producing countries including Nigeria.

Awolowo, who was represented by the Director, Product Development department of the agency, Mr William Ezeagu, stressed the need to increase investment in cashew processing to add value to the cashew value chain.

Excerpt: Punch

Turkey’s machinery exports boosted in the first four months of this year, showed data from an exporters' association on May 10.

The machinery export increased 18.1 percent year-on-year in January-April period, the Machinery Exporters' Association (MAİB) said in a statement.

The country earned $5.8 billion from its machinery exports between January and April, up 6.5 percent from the same period last year, MAIB noted.

The machinery sector's exports to the U.S, U.K., Italy and France increased.

Slowdown in German industry, Turkey’s top export market, led to the drop of 8.8% export to the country during the same period.

Kutlu Karavelioğlu, head of the association, said export-to-import coverage rate in the sector reached 78.8 percent in January-April.

Karavelioğlu said the sector should be placed among the strategic sectors.

“Implementing policies and supporting the export of high-tech goods and products, especially machinery, should be a priority,” he added.

34% Drop in Global PriceThreatens Cashew Export

Machinery Exports Surgein January-April

Yam Exporters Task FGon Trade Agreement

with EU

Prof. Simon Irtwange

OTHER

HEADLINES

FG Set To Give Solid MineralsSector Adequate Attention

– The Tribune

Nigeria: Becoming a HumanCapital Export Nation– The Nigerian Voice

Chinese Banks Commit $1.902bnto Nigerian Port, Railway Projects

- Punch

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Export

Miscellaneous:

materials for manufacturing in their factories from Africa and so they will do everything to keep Africa where it is in order for them to keep their status as a developed nation.The western world is doing everything possible to convince Africa that they need to continue to produce raw materials in order to build wealth. They provide all the necessary support to aid the production of raw materials. They provide equipment, training on good Agricultural practices,

Literal slavery might have ended in Africa but economic slavery continued and had never stopped but rather becomes intensified. This is because, the secret of the development of the western world is hinged on this and they will put up a great fight to resist any attempt to reverse the trend. It is important to note that the Sub-Saharan A f r i c a i s f u n d a m e n t a l t o t h e development and prosperity of the western world. They source the raw

post harvest handling, all in the bid to ensure that Africa effectively deliver their raw materials. Africa must come to terms with the fact that its prosperity can never lie in the production of raw materials. It lies in the production of finished goods not as assisted by nature but production of complex products as assisted by the intellectual capacity. Cont'd Bamibele Ayemibo

Author: Bamidele Ayemibo

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EXPORT ORDERS

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S/N

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PRODUCT

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SPECIFICATION MINIMUM SHIPMENT

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2.

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PRODUCT SPECIFICATION PAYMENT MONTHLY VOLUME

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UNIT OF MEASUREMENT

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