Business

Nigeria’s sugar import from Brazil hits N385bn

Nigeria has imported 965,000 metric tonnes of brown sugar valued at N385 billion ($592.18 million) from Brazil between January and June 2022 as price moved from $397 to $443 per tonne in one month.

 

The importation is 25,000 higher than what the country purchased within the same period of 2021 as Oyo, Ogun and Lagos states consumed 80 per cent of the 1.75 million tonnes of sugar imported into the country.

 

Brazil has consistently been the main supplier of raw sugar, the main ingredient for sugar production in the country, and among the list of commodities on the foreign exchange restriction list of the Central Bank of Nigeria (CBN). Statistics from Trade Data Monitor (TDM) based on the Brazilian Foreign Trade explained that Nigeria imported 1.46 million tonnes raw sugar from Brazil in 2021 and $730 million worth of the commodity in 2020.

 

Due to the high demand for the commodity, the Nigerian Ports Authority (NPA)’s shipping data revealed that Greenview Development Nigeria Limited (GDNL) at Lagos Port would take delivery of 92,210 tonnes of sugar from next week from Aquarius Honor laden with 45,850 tonnes and Genco Brittany, 46,360 tonnes.

 

Also in May this year, Greenview Development Nigeria Limited (GDNL) took delivery of 187,000 tonnes from four vessels with Common Galaxy leading with 48,800 tonnes; Bonny Island, 47,200 tonnes; Chayanee Naree, 46,000 tonnes and Karteria Bluesrar, 45,000 tonnes. In April, the terminal took delivery of 91,600 tonnes when Unity Bluestar offloaded 47, 200 tonnes and Ecoatlantic, 44,400 tonnes.

 

The data revealed that 67,000 tonnes of sugar were offloaded at ENL Consortium and GDNL, adding that ENL terminal took delivery of 20,000 tonnes from Doro, while Baltic Mantis discharged 47,000 tonnes at GDNL. The shipping data disclosed that Genco Picardy arrived with 46,500 tonnes in February, while two vessels offloaded 101,422 tonnes in January, stressing that Desert Calm berthed with 55,352 tonnes and Pauline, 46,070 tonnes.

 

Meanwhile, the National Sugar Development Council (NSDC) has promised to boost the economy of Oyo State through its sugar factory. Executive Secretary of the council, Mr Zacch Adedeji, made the promise when the Director General of Oyo State Liaison Office, Abuja, Mr Wale Ajani, visited him in Abuja.

 

Adedeji explained that the council had established a mini sugar factory in Iseyin and Iwajowa Local Government Areas of the state, noting that Oyo, Ogun and Lagos states consume 80 per cent of sugar in the country.

 

The executive secretary added that NSDC was working with Sugarcane Farmers Cooperative Societies towards enhancing the growth of the sector in the state, stressing that the council had put in place necessary policies and programmes that would accelerate Ni-geria’s drive to attain self sufficiency in sugar production as captured in the Nigerian Sugar Masterplan (NSMP), which is a ten-year document for the sector.

 

Adedeji, therefore, solicited the support of the state government on road construction, dam and irrigation facilities in the existing NSDC sugar factory in the state in order to fast-track the growth of the sector and contribute to economic development.

 

It would be recalled that Nigeria Sugar Master Plan (NSMP), a 10-year blueprint designed to revitalise the sector, had missed its target as Brazil increased sugar export to Nigeria by 65 per cent. Import rose from $458.9 million in 2019 to $702.8 million in 2020.

 

According to Trade Data Monitor (TDM), Brazil’s cumulative raw sugar exports to Nigeria in 2020/21 season was 1.62 million tonnes, while domestic cane sugar production has slumped from 75,000 tonnes to 70,000 tonnes, about 6.7 per cent reduction within one year.

 

Nigeria had projected to meet 800,000 tonnes target of raw sugar production by 2022 as demand by the food and drink manufacturing and retail markets is on the increase.

 

However, Nigeria could not meet up to five per cent target as data from National Sugar Development Council (NSDC) revealed that in 2016, local production of refined sugar was 25,000 tonnes; 2017, 20,184 tonnes; 2018, 14,918 tonnes and 2019, 28,597 tonnes; 2020, 75,000 tonnes and 2021, 75,000 tonnes.

 

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