Kenya’s earnings from horticultural exports for the half-year period through June recovered from a double-digit fall in the prior year amid a strengthening euro and moderating inflationary pressures. Sales from horticultural exports amounted to Sh69.48 billion in the review period, according to data collated by the Central Bank of Kenya (CBK), a modest 7.16 percent rise from Sh64.84 billion in a similar period last year.
The increased earnings came at a time when the euro appreciated 16.54 percent against the shilling between January and June, boosting revenue for Kenyan producers who largely earn in the eurozone currency. About 70 percent of Kenya’s horticulture exports are paid in euros, according to industry estimates, while nearly a fifth of the consignments are paid in the British pound.
The volume of fruits and nuts sold outgrew 16.78 percent to 137,396 tons, while vegetables increased by nearly a fifth to 111,715 tons.
[ Sh100 = €0.64 ]
Source: businessdailyafrica.com
