Kenya’s revenue from horticultural exports fell by 9.7% year-on-year in 2022 due to high inflation in Europe amid weaker currencies, according to provisional export statistics from the Central Bank of Kenya.
Revenue from horticultural sales abroad amounted to 120.26 billion Shillings ($930.6 million) in 2022 from 133.23 billion Shillings in the prior year.
Local exporters had complained that the runaway inflation was eroding consumer purchasing power in the Euro area and the UK, the primary destinations for cut flowers, fruits and vegetables.
Earnings from the sale of vegetables declined by almost 25% year-on-year to 27.34 billion shillings, while the value of cut flowers fell by 10.21% year-on-year to 54.25 billion Shillings, according to provisional data collated by the Central Bank of Kenya.
On the other hand, exports of fruits, bolstered by the opening up of China for fresh avocados, saw a 4.19% year-on-year increase to 38.67 billion Shilling last year.
Earlier, Kenya Flower Council termed 2022 a “horrible” year, which had “worked against growers” due to ongoing inflationary pressures on European households following the Russia-Ukraine war.
Source : Zawya
