Kenya’s earnings from horticulture rose 9 percent in the first six months of 2023 on increased export volumes, according to the country’s central bank.
Kenya earned 69.48 billion shillings (about 483.7 million U.S. dollars) after exporting 320,338 tonnes of produce during the six months, up from 443 million dollars from 271,154 tonnes in a similar period in 2022, said the Central Bank of Kenya (CBK) in a new economic report released Friday in Nairobi, the capital of Kenya.
The surge in export earnings happened after a rebound in the second quarter, since in the first quarter, the value of horticulture exports remained flat at 226 million dollars due to low prices in the global market.
Kenya’s main horticulture products are cut flowers, fruits and vegetables.
Earnings from the sector are on a recovery path after declining 24 percent in 2022 to 1.05 billion dollars, hurt by low revenues from flowers due to stifled demand in destination markets on elevated inflation.
Clement Tulezi, the chief executive officer of Kenya Flower Council, said in a recent interview that they expect flower exports to hit a new high of 247,500 tonnes in 2023 following increased demand as most European economies recover.
“Our flower sector is experiencing higher demand this year as the economies of our key export markets continue to recover,” he said.
Source: Zawya
