Horticulture produce grows by Sh8bn despite the pandemic

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Despite the disruption caused by coronavirus pandemic in the world market, the value of Kenya’s horticulture has raised by Sh8 billion in the first quarter of the year.

Although there was a 13 percent drop in the volume of production, the produce still accumulated Sh47 billion in the first quarter of 2020 compared to the Sh39 billion recorded in 2019 in a similar period.

The volume exported in this year’s quota was 84 million tonnes while the previous quota exported 98 million tonnes.

Benjamin Tito, the head of Horticulture, says the disruption of the supply of the horticulture produce in the world market caused by the pandemic has come as a bonus for the Kenyan horticulture commodities.

“The value for the first quarter has grown significantly. The lockdown in different parts of the world has seen the prices of Kenya’s horticulture produce go up despite a decline in volume,” He said.

The demand for fruits and vegetables in the European market has increased immensely due to the shortage caused by the pandemic. However, due to the travel restrictions implemented by the government to curb the virus, such as pulling most airlines out of Nairobi, the volume of produced exported has reduced.

At the moment, local exporters are getting orders for vegetables and fruits such as Avocado in states like Germany, France, and the United Kingdom.

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Anthony Kiratu is the Founder of Finsolutions. He is a financial analyst with over 5 years experience in research, investment advisory, valuation and financial modelling. Anthony is a member of the Institute of Certified Investment and Financial Analysts and Institute of Certified Public Accountants of Kenya. He is passionate about development of African Capital Markets through training of investors and dissemination of information for sound financial and investment decision making process. He is also a part-time lecturer in the Certified Investment and Financial Analyst course in the subjects of International Finance, Portfolio Management, Equity Investment Analysis, and Fixed Income Securities. Email: anthony@finsolutions.co.ke Contact: +254 780216631

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