By Cynthia Alo

Nigeria is losing out on the lucrative global snail export market, despite its capacity to produce over 45,000 metric tons of the commodity annually.

This is according to an analyst with Financial Derivatives Company, Onyelukachukwu Emefiene, who disclosed this during an interview on Channels Television’s Commodity Watch on Thursday.

According to her, Nigeria consumes most of its snails domestically and exports far less compared to Morocco, which produces only 17,000 metric tons annually but has built a stronger presence in the export market.

Emefiene said: “We do wild farming, we don’t really do controlled farming for snails in Nigeria , and that’s why we see that sometimes the supply is not stable. That’s why we see more in rainy season and less during dry season.

“Another thing is that our farmers don’t have the technical skills that will help to boost snail production, such as, knowing the right ways to feed the snail, the time to change the feed, and also clearing the snail hatchery.”

She, however, described the snail value chain as highly viable and profitable, adding that snails have several uses beyond food, including in the cosmetic and construction industries, as well as home decor.
She called on the government to boost capital investment in snail farming to support expansion and help the country tap into the export market.

Speaking on current market trends, Emefiene said the price of jumbo-sized snails has dropped by 25 percent since March, from N4,000 to N3,000, as the ongoing rainy season has led to a surge in supply.
She explained that snails reproduce more actively in cool, humid weather, which has resulted in increased breeding across gardens, forests, and other natural habitats where most snails in the country are harvested.

She said the prices are expected to keep declining until October, before rising again from November through March, as supply tightens with the onset of the dry season.