Central Bank Ups Minimum Threshold Price for Flower Exports

Apr 2 , 2022

Regulators at the National Bank of Ethiopia (NBE) have increased the minimum price threshold for fresh-cut flowers destined for export. The changes add a few cents to the minimum prices the central bank had approved in 2020. Roses and summer flowers are classified based on the altitude of the regions they were grown in. The most expensive are summer flowers produced in lowlands, each kilo going for a minimum of 6.37 dollars. In contrast, a kilo of roses grown in highland areas is to be sold for no less than 4.26 dollars. The changes might provide a modicum of relief to horticulturalists, who say they have been hit hard by the central bank's updated forex retention rules. Players in the input-intensive industry say surrendering 70pc of their forex earnings to the NBE has made it difficult to cover costs to import raw materials and inputs from abroad.