Horticulture Exports Hit $628m Despite Hurdles

Oct 1 , 2022

The export of horticultural products brought in 628 million dollars in revenues last year, according to the Ministry of Trade & Regional Integration. Cut flowers accounted for the vast majority at 541 million dollars, retaining the industry's place as one of the top three export earners next to coffee and khat. Horticultural exports made up a little over 15pc of record-high total export revenues last year. The performance comes despite complaints from flower exporters, who were vocal about disruptions brought about by foreign currency shortages and regulatory changes. In April, the regulators at the National Bank of Ethiopia (NBE) set a threshold price for the exports of fresh-cut flowers to the dismay of the companies and their managers, who warn that higher floor prices could imperil competitiveness in the global market. The move exacerbated misgivings that flower growers had following the central bank's revision of forex retention rules a few months prior.