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Nigeria’s $100m hibiscus export market opens opportunity

Hibiscus sabdariffa, generally known as hibiscus or roselle, is a tropical flowering plant regarded by agronomists and market dealers as one of the highest volume specialty botanic products in international commerce.

The plant which is traded in the international market as dried shifting and dried flower has a market value estimated at over $113 million in 2019 and is expected to expand at a compounded annual growth rate (CAGR) of 7.2 percent in the next five years, a market report by the market research organization, Grand View Research, showed.

In Nigeria, the flower is mostly grown in the northern region. The plant is regarded by agronomists as drought tolerant, relatively easy to grow, not suitable for mechanized harvest, and can be grown as part of a multi-cropping system. Nigerian export markets for dry hibiscus flower export include Belgium, Germany, Mexico, The Netherlands, the U.S, and some other parts of Europe, Asia, and America. In the local market, the flower is recognized as a key component in the production of the indigenous tea variety locally known as ‘zobo’ and is also used in the poultry industry for producing animal feed.

Considering the economic significance of the plant, the Association of Hibiscus Flower Exporters of Nigeria (AHFEN) estimated the value of the country’s hibiscus industry to be worth about $100million, noting that the flower holds great potential for revenue generation in the export market if effectively sustained.

Read the complete article at www.businessamlive.com.  

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