The Nigerian Export Promotion Council(NEPC) has said that the value of global organic food may rise to $150billion within the next five years.
It said this is considering the increasing demand for organic products globally.
The Executive Director of the Council, Olusegun Awolowo made the disclosure at the inauguration of the local organising committee for the 2021 Organic Agriculture Business Summit in Abuja.
According to him, demand for organic food has risen significantly due to global awareness on the essence of food safety concern and focus on organically produced crops.
“With COVID-19 changing the way we shop and eat, the next leap to $150 billion could be within the next five years,” he said.
He stated that global organic product sales had reached $50 billion in 2008 after 15 years adding that in 2018, it surpassed the $100 billion mark.
“It took over 15 years for global organic product sales to reach $50 billion in 2008. 10 years later in 2018, they surpassed the $100 billion mark.
Further in his explanations, Awolowo who spoke through the Deputy Director, Product Development Department, Salami Akinshola, stressed that the action plan under the world food summit identifies the importance of organic input technologies, farming techniques and other sustainable methods as organic farming.
The Organic Agriculture Business Summit scheduled for September this year would focus on improving the quality of organic produce and products from Nigeria to address the rejection of produce from the country.