• June 19, 2021

FG Seeks To Harness $6 billion Global Coconut Market

=== (AGENDAWATCHDOG) ==== According to the Minister of State for Industry, Trade and Investment, Mrs. Mariam Katagum, the federal government was committed to supporting current efforts aimed at harnessing the immense potentials of the coconut commodity whose global market worth is estimated at over $6 billion.

Katagum, who made this known at the inauguration of the 2021 coconut planting season in Abuja, themed themed: “Actualizing Coconut Sufficiency in Nigeria (COSIN), Planting Trees with Economic, Health and Export Potential”,  expressed concern that despite its economic benefits, the current local supply could only meet about 20 per cent of demand, pointing out the need to urgently address the supply side constraints to boost the economy.

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Continuing, the minister said that it was in a bid to reposition the coconut segment and address the supply gaps that the ministry had nurtured and formed the National Coconut Producers, Processors and Marketers Association of Nigeria (NACOPPMAN).

Katagum, who had planted a coconut tree to kick-start the planting season, further commended the association for promoting the establishment of 10,000 hectares of coconut plantations in each of the commodity viable states in the country under the “One Family Three Coconut Trees” campaign.

She stressed that as the 18th largest world producer of coconuts, the stakeholders must work harder to increase our market share, and the best strategy is to start cultivation of the commodity for improved yield, expressing believe that the current campaign could reposition the industry and place the country among the largest coconut producers in Africa and the world at large.

Agenda Watchdog

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