INTERNATIONAL RUBBER PRODUCTION AND MARKETING TRADE IN NIGERIA
Keywords:
Abstract
This paper focus on International Rubber on production and marketing trade in Nigeria .Rubber in Nigeria was one of the major export ranking after cocoa, groundnuts, cotton, and palm products. It was a product that provided income to rural people of Edo, Delta Rivers, Ondo, Abia, Akwa, Ibom, cross river and Imo state. However, rubber production in Nigeria has gone into precipitate decline due to neglect, therefore pushing Nigeria fro first position to fourth among the producing countries in Africa. Ironically, rubber export would wide has assumed a new dimension as one of the leading export commodities because of increasing world market price. At a price of about U$1,500 per metric tonn, rubber presently is one of the highest priced agricultural products in the international market surpassing traditional products such as cocoa, coffee/tea, cotton, palm products etc. Forecast by experts predict further rise in rubber price as a result of various factors including, rising demand in china, and high cost of processing synthetic rubber as a result of rising cost of crude oil. Despite the potentials and the market opportunity which the international market offers, Nigeria rubber production is declining against increasing production in neighboring countries like Cameroom, liberai and cote D’ivore.
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