Global organic food sales to reach $150b

By Juliana Agbo, Abuja

The Nigerian Export Promotion Council (NEPC) yesterday said the global organic product sales may leap from $100 billion to $150 billion within the next five years.

Executive Director of NEPC, Olusegun Awolowo who spoke in Abuja at the inauguration of local organising committee for the 2021 Organic Agriculture Business Summit, said it is an opportunity to develop the country’s organic food sector with the high demand of organic product both locally and internationally.

Represented by the Deputy Director, Product Development Department at NEPC, Salami Akinshola, the executive Director said many agro products in the country such as ginger, hibiscus, moringa, tiger nut sesame seed, tumeric, soybeans, with proper certification are easily organic.

He explained that it took over 15 years for global organic product sales to reach $50 billion in 2008, adding that in 2018, it surpassed the $100 billion mark.

He said: “It took over 15 years for global organic product sales to reach $150 billion in 2008. 10 years later in 2018, they surpassed $100 billion mark.

“With COVID-19 changing the way we shop and eat, the next leap to $150 billion could be within the next five years.

“Statiscally, the global demand for organic foods rose from $15.2 billion in 1999 to $97 billion in 2017. Recently, the action plan under the world food summit identifies the importance of organic input technologies, farming techniques and other sustainable methods as organic farming.”

He however noted that the value of organic food demand has risen significantly due to global awareness on the essence of food safety concern and focus on organically produced crops.

The Organic Agriculture Business Summit scheduled for September this year would focus on improving quality of organic produce and products from Nigeria to address rejection of produce from the country.

The forum is expected to achieve increased organic production and business in the country, increase availability of organic produce in the country to contributed to food safety.

Also, the summit is expected to achieve mainstreaming of organic agriculture into regular activities of relevant Ministries, Departments and Agencies (MDAs).